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Tranio and IHIF study: The hotel market will recover by 2024

32% said hotels were converted to coworking spaces, 17% – opened ghost kitchens or dark stores, 10% – were converted to retirement homes.

In August 2021, Tranio joined forces with the IHIF to conduct a joint survey on the impact the global COVID-19 pandemic has had on the hospitality sector since March 2020, and to zero in on what we can expect from the market going forward.

Most of the survey participants (59%) were real estate or hospitality professionals, 16% were hotel operators, 13% identified themselves as investors.

Key takeaways from the survey:

  • 52% of the respondents believe the hotel market will recover by 2024.
  • Hotel operators appeared to be the most optimistic about their predictions. Investors, on the other hand, were more cautious.
  • 35% believe the German market will bounce back more quickly than others. Some 30% believe that the Spanish market will also recover quickly.
  • Among investors, 69% expressed the most confidence in the UK market.
  • Purchase prices of hotels have remained unchanged or have fallen by 5% or less, according to a substantial majority (78.6%) of our respondents.
  • 32% said hotels were converted to coworking spaces, 17% – opened ghost kitchens or dark stores, 10% – were converted to retirement homes.
  • According to 71%, improved vaccination ratios will drive the market economy.
Tatiana Rokou

Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.

She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.

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