September 29, 2023

Benelux Hotel Performance: 5 Key Points

Understanding you may not have time to watch our complete webinars, we are happy to continue our series of COVID-19 webinar summaries.

NB: This is a post from STR

In spite of experiencing a hard year overall, with occupancy not going beyond 55% of the 2019 standard, a few of the Benelux saw somewhat better levels over the last three months.

Rollercoaster flight

In this newest edition, we talk efficiency in Belgium, the Netherlands and Luxembourg.

Subscribe to our weekly newsletter and keep up to date

Antwerp, for circumstances, recovered 74% of 2019 levels from August through October. Markets like Amsterdam, Utrecht and Brussels are still listed below 55% of the 2019 similar.

Sluggish entering the submarkets

Submarkets in Belgium and Luxembourg have seen slow occupancy improvement considering that January. For the week ending 14 November, Ghents outright tenancy was 66.0%, which was the greatest level amongst crucial submarkets in Belgium and Luxembourg. For contrast, Bruges saw simply a 40.2%.

Regional submarkets leading Netherlands tenancy

Amsterdams tenancy for the week was 50.0%.

New partial restrictions in place from 13 November have impacted the Netherlands tenancy healing. While regional submarkets surpassed 50% tenancy for the week ending 14 November, Maastricht and The Hague saw levels of just 44.0% and 49.2%, respectively.

Weekday hotel tenancy far behind 2019 levels

For the week ending 14 November, Rotterdam Area, however, had recovered 71.2%, the greatest healing level amongst crucial markets in Benelux.

Due to the absence of business and MICE demand throughout the week and the absence of occasions, especially in Amsterdam, weekday hotel occupancy in the Benelux is still far behind 2019 levels. The decreasing trend that started in November is anticipated through December as some countries have actually reimplemented limitations around travel.

An appearance ahead

Powered by Forward STAR information, the below image consists of bookings pickups for the next 90 days as of 15 November, and further insights are supplied in the complete webinar recording. Business-on-the-books intelligence will assist us all understand healing and provide much-needed context.

Amsterdam still does have bookings for Christmas, but there is most likely to be more movement there depending on existing restrictions and when they are eased.

Looking ahead, Antwerp appears strong with occupancy on the books reaching almost 70% by mid-December in addition to a spike in mid-February.

Learn more posts from STR