News & numbers
Outlook for 2023 Top 10 European cities for investment
77% 85%
1st
Amsterdam 2nd Lisbon
3rd London 4th Paris 5th Madrid 6th Barcelona 7th Rome 8th Berlin 9th Athens 10th Dublin
UK ( 37%), Germany ( 29%) and Ireland ( 28%) are mainly seen to be on the downturn whereas Greece ( 31%) and Spain ( 33%) and Portugal ( 33%) are more on the upturn.
Source: Deloitte European Hotel Industry Update
Risks for the next five years 100%
83% 80% 60% 40% 20% 0%
European tourism continues to regain lost ground during the pandemic as foreign tourist arrivals now sit 18% below 2019 levels for the full-year 2022.
NA
Rising costs/ input infl ation
Shortage of skilled labour
Source: Deloitte European Hotel Industry Update
Increased staff costs
Rise in interest rates Brexit Staff
productivity issues
Political tension
Signifi cant pent-up demand post-covid remains for UK holidaymakers which should support travel recovery across European destinations.
Foreign visits growth to European destinations 2023
Serbia 32% Bulgaria 27% Türkiye 21% Montenegro 17% Portugal 13% Latvia -37% Lithuania -34% Germany -25% Finland -22% Hungary -20%
Two in fi ve reporting countries have surpassed 2019 levels of UK tourist arrivals.
Türkiye leads the ranking in UK tourist arrivals, up 69% compared to 2019.
Croatia (64%) and Montenegro (54%) also attracted sizable numbers of UK arrivals.
Global hotel performance 80%
60%
Occ ADR (€) RevPAR (€)
83% 82% 2022 2021 76% 77% 74% 74% 60% 54% 60% 50% 54% 49% 63%
expect to see distress in the year ahead, compared with 58% for the same period in 2022
see managing infl ationary pressure as the top priority for 2023
see hiring and re-staffi ng as a high priority
Hotels take the top spot as the most attractive asset class to invest in 2023 at 37%, compared with 32% in 2022
40%
20%
0% Source: TourMIS Source: STR
Asia/Pacifi c
Americas
Europe
Middle East/ Africa
Hotel Management International /
www.hmi-online.com 9
% change 2019
Jan–Mar year-to-date, % change year ago
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