COVID-19 Webinar Summary: 5 Key Points on Europe Hotel Performance, 10 September – STR

Record number of new hotel rooms

More than 50,000 rooms have opened thus far in 2021, which is already more than all of 2020, and scheduled openings for the remainder of the year are expected to grow the number to more than 100,000 total. That growth reflects delayed 2020 openings and limited cancellations of planned projects to date despite the significant disruption in performance from COVID-19. The pace of openings is not expected to slow significantly in 2022, with a further 100,000 openings anticipated. Europe’s previous peak for new openings came in 2019 with 74,852 rooms. 

Occupancy recovery comparison

Looking at data through the first week of September, Europe has reached as high as 70% of its 2019 levels thanks to a stronger summer than last year. Levels tailed off in the most recent days, however.

The Middle East has been between 80%-90% of 2019 levels. After a number of lockdowns due to the Delta variant, China is improving from its lows and recently reached 50% of 2019 levels.

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