Hotel market shows positive developments

The forced stay away from foreign tourists and especially international business travelers has left traces. By easing the corona measures, they could return to Europe and the Netherlands. However, now the war in Ukraine is a reason to stay away… Despite this, there are also positive sounds.

Pensioenfonds PGGM will invest €1 billion in European hotels in the coming period, including hotels in the Benelux. To this end, the fund works together with L + R Hotels in London under the name LRO Hospitality.

That Accor saw its turnover (€2.2 billion) increase by 36 percent in 2021 is perhaps not surprising when compared to 2020. After all, this turnover is still 42% below that in 2019 when a record turnover was booked. However, average room rates approached or even exceeded pre-corona prices at the end of 2021.

Accor certainly expects growth from several brands. In 2021, 288 new hotels with 41,000 rooms were opened. It is expected that 40% of future openings will be in the luxury segment.