This week saw CBRE say that it no longer saw any “material uncertainty” in real estate valuations, giving funds the chance to pile back in. Given the UK government’s mixed messages this week - go to work, don’t mix with more than five people at home - uncertainty was the message coming out of Number 10 and the message we are all getting as the number of Covid-19 cases rising across Europe.
August, the month of holidays, was anything but in the shadowland created for us all by the pandemic; part work, part play, lines of demarcation missing in action. But, as governments across Europe encouraged their citizens to take a break - but stay at home - the hotel sector wound itself up to look more like a September in its enthusiasm for deals and derring do.
“Guest safety and associate safety were the absolute priority and understanding what we needed to do to ensure their health and wellbeing” said Cameron Read, chief financial officer, Europe, Middle East & Africa reflecting on the initial response from Marriott International to the outbreak of COVID-19.