Growth rates in Travel & Tourism set to outstrip Portugal GDP at 3.4% per annum over next decade with some 200,000 new jobs.
Europe hotel transactions updates
Dartriver and CONREN acquire future Hub by Premier Inn in London.
Italy’s tourism could reach pre-pandemic levels next year
Almost half a million jobs could be created in Italy’s Travel & Tourism sector over the next decade.
Europe’s hotel construction pipeline sees slight decline
According to Lodging Econometrics, Europe ends 2022’s first quarter with 11% decrease by rooms year-over-year.
Russo-Ukranian crisis has little impact on inbound travel sentiment to Europe
Intention for long-haul travel remains weak in key markets amid worsening economic prospects, COVID-19, and geopolitical shocks.
Eight million new tourism jobs to be created in Europe
Sector expected to grow at double the rate of the overall economy over next 10 years.
Russia-Ukraine conflict will leave a void in this summer’s European travel market
According to GlobalData, Russia was the fifth-ranked country globally in terms of international departures in 2021.
Paris hotels reached 2019 profitability level in March
Among key hotel markets in Europe, Paris was the only one to achieve gross operating profit per available room (GOPPAR) that was 100% of the 2019 comparable.
U.K., Poland and Ireland lead Europe hotel occupancy recovery
The U.K., Poland, and Ireland are the three European countries to achieve occupancy indexes that are 80% or better to pre-pandemic levels.
Strong appetite for travel in Europe
Despite the pandemic and the conflict in Ukraine, European travel sentiment reaches a peak.
