According to the latest edition of Deloitte’s European Hotel Industry Survey, based on responses from more than 100 senior hospitality figures, including owners, lenders, developers and investors, the current disruption of the industry will continue until mid-2021 and the recovery period will be significantly longer.

More than half of hospitality owners, lenders, developers and investors expect to reach the 2019 performance levels again in 2023, while one in five believes it will not be until 2024 or even beyond. In addition to the disruption caused by the COVID-19 pandemic, UK respondents mentioned Brexit as a key risk for the local hotel industry.

The most favorable European cities for hotel investments in 2021 remain Amsterdam, London and Paris, while Berlin leaps ahead to the fourth position from sisteenth in the previous year.

In addition, the survey highlights that serviced apartments become the most attractive European asset in which to invest in 2021, due to positive demand and leaner costs.

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