European hotels convert into hospitals, quarantine facilities, shelters, temporary logistic spaces

During the first two months of the year, year-to-date figures for European hotels showed positive growth of revenue per available room (RevPAR), due to increase of average daily rate (ADR) and despite the minor decline in occupancy, reveals a new weekly EMEA COVID-19 research report from Cushman & Wakefield,  COVID-19 Impacts for EMEA Real Estate.

After this relatively good start to the year, Europe was hit by the COVID-19 crisis, which has seen occupancy levels drop rapidly in the first half of March. While, initially, some markets were less affected than others (such as the United Kingdom), most hotels are now closed across the whole of Europe, except for some airport locations.