Hotel performance has remained stable in most of Europe amid the war in Ukraine, and countries bordering the conflict area have seen a refugee-driven lift in occupancy, according to STR.
Using standard methodology, which excludes temporary closures from the pandemic, Europe’s hotel occupancy hasn’t dipped below 53 percent on a running seven-day basis since late February. The latest data for March 20 showed occupancy above 58 percent. When indexed to 2019, levels over the last few weeks have not fallen below 77 percent of the pre-pandemic comparables and came in above 80 percent on March 20. When drilling down to the subcontinent level, Northern Europe has remained furthest ahead in both absolute occupancy and indexed levels to 2019.
At a country-level, the obvious exception has been in Ukraine,
