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May 2021: the European hotel industry is slowly picking up

In May 2021, all European countries posted slightly higher hotel performances compared to the previous month, and the arrival of the summer season is poised to accelerate the recovery.

After a discouraging April marked by declining performance due to various lockdowns and the resurgence of the Covid-19 epidemic, May has finally improved the outlook for European hoteliers. Indeed, the gradual lifts of restrictions in several European countries has triggered an increase in the occupancy rate at the European level, which stood at 25.6% in May, up from 18% in April 2021. And while this level remains 49 points below pre-crisis records, it is still slightly more encouraging than the previous month (-55 points below pre-crisis occupancy).

In terms of range, the midscale and upscale & luxury segments are of course the hardest hit, with RevPAR down 80.3% compared to pre-crisis levels. However, as for all segments, these trends are much more encouraging than those of April 2021, attesting that the hotel sector in Europe is in remission.

Luxembourg, the United Kingdom and France are among the European countries posting the highest occupancy rates, between 30 and 35%. In contrast, occupancy rates in the Czech Republic and Hungary remain below 10%, even if OR rose slightly compared to the previous month.

In May 2021, France and Latvia are the European countries that have been least affected, with RevPAR decreases of 66.5% compared to pre-crisis standards. They are followed by the UK, Spain and Portugal, also posting changes below -75%. In contrast, Germany, the Netherlands, Austria, the Czech Republic and Hungary post changes in RevPAR ranging between -85% and -95% (compared to May 2019).

But while European countries are moving at different speeds, everywhere in Europe hotel performances are moderately trending up from their lockdown lows.

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