The Spanish Hotel Sector will not Return to its Pre-Crisis Levels until 2022

29 April 2020 – Brainsre.news

The consultancy CBRE predicts that the markets most exposed to domestic demand, such as the Mediterranean region, will recover sooner, whereas the Balearic Islands and the Canary Islands, which depend more on international tourism, will take longer to recover.

The recovery of the Spanish hotel market following the Covid-19 pandemic will begin next year and the pre-crisis levels could be restored during 2022, according to the report “Spanish Market Outlook Covid-19”, prepared by the real estate consultancy CBRE.

In this sense, the hotel sector could experience a strong upturn in demand in 2021, with the recovery expected to span three different phases: first, domestic demand, then short-term demand, and finally, long-term demand.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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