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Impact of Coronavirus on the Hotel Sector | April 2020

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The effects of the coronavirus have led to a hotel crisis never before seen on this scale. During the financial crisis that started in 2008, there was a significant slump in the hotel sector, but occupancy rates never got to the lows that are being experienced right now. That did happen in China after the SARS outbreak in 2003, but the rates bounced back to their old levels within just six months, even in the most affected cities. If the current pandemic can not be curbed soon, and travel restrictions persist, what will it mean for the hotel industry? We’ve toured around six major holiday countries, to get a clear picture of the current situation, map out the consequences and identify opportunities.

Whichever scenario becomes a reality, it is certain that tourism will eventually re-enter the growth path it has been on for the past 20 years without major interruption. After the crises in 2003 and 2008, global tourism recovered to its former level within 18 months. It is to be expected that long-distance trips will be exchanged for trips closer to home for the time being. That speaks in favor of the European hotel market. In addition, the expected recession will cause business traffic to recover more slowly than holiday tourism. The hotels that survive this crisis without too much damage will have proven to be extremely resilient. That could make the hotel industry an even more interesting market to keep an eye on in the future.

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Impact of Coronavirus on the Hotel Sector | April 2020

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Netherlands

Dirk Bakker

Chief Executive Officer | Netherlands

Amsterdam

My area  of expertise lies in fields such as multi country assigments, strategic marketing, International Business Development, International Private Public Initiatives, hospitality consultancy and corporate finance assignments. My clarity in vision and strategy, leads  to tangible results. My focus has been predominantly been on cross border assigments,   where I  leveraged my extensive entrepreneurial expertise in Europe, the Middle East, India, Brazil and Russia.  I have  over 30 years experience in hotel operational consulting, initially with a focus on database management & customer loyalty programs as wel as hotel reservation systems in the global market. I have also  spent  several years in hotel development and real estate financing related areas, where I combined my expertise as hotel operations specialist in my role since late 2009 as Director Hotels for Colliers in the Netherlands as well as Head Of EMEA Hotels for Colliers. Since September 1, 2017 I am  Chief Executive officer for Colliers in the Netherlands leading a team of some 300 plus professionals and 4 offices. I am a leader with  a clear vision and a large drive to achieve goals. 

 

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Damian Harrington

Head of Global Capital Markets Research | EMEA Head of Research

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I have worked within the real estate profession  for over 20 years, living and working from various locations across EMEA including London, Dubai, Prague, Helsinki and Amsterdam. My work and student experiences expanded my horizon to include India and the US. 

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