‘The outlook for resorts is generally positive’ says Thomas Emanuel, Director at STR, ahead of his talk at the Resort & Residential Hospitality Forum (R&R), taking place at the Tivoli Marina Vilamoura Algarve Resort in Portugal on 25-27 October. He shares his views on why resorts remain an attractive segment and the data on recovery in key European markets.
Hospitality Insights: How would you describe the current landscape for resorts?
Thomas Emanuel: The outlook for resorts is generally positive. We have seen across the world leisure travel has been the first to come back, and resorts are at the forefront of that recovery. Of course, there are still COVID-related restrictions in place for many markets, but the desire to travel remains strong.
People want to travel, they want to experience, and particularly after the last 18 months, they want a change of scenery. Resorts provide those opportunities, and when combined with good weather and good food, they are attractive destinations. I think that most people value their holidays very highly and are keen to reclaim them.
Hospitality Insights: Which markets have performed particularly well this year ?
Emanuel: Although the summer months may not have reached the high expectations of some around the industry, Europe did show a substantial improvement on last year. The U.K. is still leading the way in Europe’s occupancy recovery and posted August occupancy that was 86.5% of the 2019 comparable. Italy ranked second when indexed against 2019, while France was third.
In terms of average daily rate (ADR), Europe has shown a much faster pace of recovery. In August specifically, most of the region’s countries reached or surpassed 2019 levels. When looking at the Mediterranean, Greece posted ADR that was 132.6% its 2019 level, followed closely by Italy (126.9%) and Portugal (118.4%), showcasing strong recovery.
Hospitality Insights: What are your looking forward to with regards to your participation to R&R?
Emanuel: R&R is all about the networking. It is always a great forum to reconnect and meet new people in the industry. Some late season sunshine in the Algarve would be a bonus!
Thomas Emanuel will be speaking at the Resort & Residential Hospitality Forum (R&R), taking place at the Tivoli Marina Vilamoura Algarve Resort in Portugal on 25-27 October.