NEWSMAKERS :A ROUND-UP OF HOTELS AND HOTELIERS MAKING HEADLINES

MULTI-YEAR RECOVERY AND NEW OPPORTUNITIES FOR THE INDUSTRIES, PREDICTS HVS

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HVS Senior Management hosted a webinar to offer expert perspectives on key hospitality issues, including how the COVID-19 pandemic has impacted their respective regions, the kind of recovery hoteliers can anticipate, and the long-term changes the sector is likely to see.

Opened by CEO Stephen Rushmore and moderated by HVS London Chairman Russell Kett, the webinar included a straw poll in which 51% of the over 1,800 global participants said they expected RevPAR [Rooms Revenue per Available Room] to return to pre-COVID levels by 2023, with a further 23% anticipating a return in 2024. Besides, 35% of the audience expected hotel values to return to 2019 levels in 2023, with 28% estimating a return in 2024.

Getting corporate and group business back emerged as the single most important issue for 37% of the audience, with 29% most concerned about the return of international visitors. And, in light of the current hospitality environment, participants demonstrated an optimistic investment approach, with 45% favouring a “hold and buy” investment strategy.

Based on their extensive in-market experience, regional variations for the hospitality sector were voiced by the global HVS Senior Management team during the hour-long webinar.