An unprecedented shock.
Because of Covid-19, the hotel industry is going through the worst crisis in its history.
Deprived of travelers, the professionals lived an apocalyptic year 2020.
According to the specialist firm MKG Consulting, the average revenue per room (the RevPar, a key indicator for the sector) fell by 61.3%, under the combined effect of a drastic drop in prices and hotel occupancy rates.
Over the past year as a whole, this rate was only 32.4%.
An economic disaster.
14 billion euros gone up in smoke
“Figures this bad have never been seen, for over thirty years,”
says Vanguelis Panayotis, president of MKG Consulting.
The shortfall is colossal: 14 billion euros in total, according to the specialist firm.
The loss is 10 billion for accommodation, and 4 billion for hotel catering.
No one was spared.
All categories of hotels suffered, all regions too.
But it is the upscale hotel industry and Ile-de-France that are paying the heaviest price for the crisis.
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