In the following report we look at the performance of key European markets, considering the impact of the pandemic, the expected future recovery and investment sentiment.

Key takeaways:

- Domestic leisure demand was the key driver of hotel performance across Europe during the region’s partial reopening throughout the year, with provincial markets performing better than gateway and capital cities.

- Serviced apartments and accommodation, targeting longer stays, also outperformed the traditional hotel market in many locations

- The initial phase of recovery will be driven by domestic demand. Countries with typically strong domestic leisure demand and less exposure to inbound travel markets, particularly long-haul, are likely to see performance bounce back sooner.

- The sector remains of strong interest for a range of investors and significant additional capital was raised in 2020 to target hotel opportunities.

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