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What is Corona? The hotel sector breaks records in the first half of 2023 - voila! Real Estate

2023-09-04T09:43:54.078Z

Highlights: For the first time in 4 years: The hotel and hospitality sector breaks records and exceeds the scope of activity before the COVID-<> pandemic. The strongest recovery was recorded in the Middle East, followed by America. There has been a surge in demand for urban markets, especially in the luxury sector in cities such as Rome, London and Paris. Asia Pacific (Far East) remains the only region that has not yet returned to pre-pandemic levels. China recorded a decline of just 6.8% of activity in 2019.


For the first time in 4 years: The hotel and hospitality sector breaks records and exceeds the scope of activity before the COVID-<> pandemic. The strongest recovery was recorded in the Middle East, followed by America


Dubai Hotels: The strongest recovery was recorded in the Middle East (Photo: ShutterStock)

The hotel market continues to recover and even exceeds the volume of pre-COVID-10 activity,
with an increase of 5.2023% in activity during the first five months of 2019 compared to the same period in 2023 (pre-COVID-<>).

That's according to a study conducted by global real estate company JLL for the second quarter and first half of <>. The study, which surveys real estate activity around the world, sheds light, among other things, on the hotel and hospitality sector around the world.

China: down just 6.8% of activity in 2019 (Photo: ShutterStock)

According to the study, the strongest recovery in the global hotel sector was recorded in the Middle East, followed by North and South America and Europe. There has been a surge in demand for urban markets, especially in the luxury sector in cities such as Rome, London and Paris.

While Asia Pacific (Far East) remains the only region that has not yet returned to pre-pandemic levels, performance has accelerated significantly over the past few months as China reopened its doors and the region recorded a decline of just 6.8% of activity in 2019.

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Source: walla

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