How are bank holidays and weekends impacting hotel performance?
Even as countries ease limitations around COVID-19, the summer months and upcoming holidays will produce hotel performance quite different than historical averages. Regardless, such holidays and weekend demand are showing to be the first demand out of the gate in leading industry recovery.
We found those holidays and weekends listed below as showing the most noticeable corresponding boost to recent hotel performance in select world regions.
Ascension Day (21 May) and the following weekend provided the first signs of occupancy recovery in Europe. The STR-defined Switzerland Central Regional submarket posted 71.7% occupancy on 21 May, the highest daily level since end of January 2020. Lucerne Area saw a 39.4% and 40% occupancy on 21 and 22 May respectively.
Switzerland, which had been below 10% occupancy, posted a 29% occupancy level during the weekend of 29-31 May. Coming from similar low points, Germany and The Netherlands reached 23% occupancy. Austria, which had been below 5%, reported a 12% occupancy level during that same weekend.
In the Oceania region, Australia and New Zealand have also seen spikes in occupancy during the weekends. New Zealand posted its highest occupancy level during the last weekend of May (29-31 May), while Australia reached its highest occupancy level during the first weekend of June (5-7 June). Auckland, posted a 64% increase in occupancy on 13 June compare to the same day last year. During the long weekend before the Queen’s Birthday (1 June), the market showed a 63% occupancy increase (28 May).
During the weekend of Eid al-Fitr (23-24 May), key markets in the Middle East posted 85% occupancy levels, and some of the beach areas reached 70% occupancy.
In Asia, Mainland China occupancy hit rock bottom in mid-January. However, the market has continued to show a gradual recovery since mid-February. Leisure destinations posted growth in occupancy during Qingming Festival (4 April) and Labor Day (1 May).