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

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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.
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