European hotels benefiting from high leisure rates, more international travelers

Hotel performance across Europe got off to a shaky start in 2023 but has turned around in recent weeks

Jun 2, 2023

Strong leisure demand for fair-weather destinations plus stronger business-transient and group business are offsetting some of the persistent obstacles such as high energy costs, rising interest rates and inflation, according to the latest STR data.

Key takeaways

  • Southern Europe continues to outperform the region, but the United Kingdom and Ireland have made strong comebacks in recent weeks;
  • Even the laggard Central European countries of Germany, Austria and Switzerland have shown some improvement in hotel demand;
  • While occupancy may recover and surpass 2019 levels in some markets in time, it won’t necessarily go above and beyond, in part because of the supply equation in the region, with 4% to 5% of rooms being removed from the market as a result of COVID.

Get the full story at STR

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