Europe’s Recovery From the Last Recession

STR | October 9, 2020

Major economies in Europe, including the U.K. and those in the Eurozone, recently confirmed what we already suspected. Economies across the continent have entered an economic recession because of the impact of COVID-19—an impact that has been devastating for the hospitality industry. The short-term effects of the COVID-19 recession are evident as hotel demand across Europe was down 55.3% for the August year-to-date period. However, even with negative projections in place, the depth of the long-term impact remains in question. To help develop answers, we look back at a lesser crisis, which may point to how hotel markets will ...