European Hoteliers Rejoice: Highest Economic Optimism in Years

Economic Optimism Among European Accommodation Operators at an All Time High as Revealed in The 2024 European Accommodation Barometer overview

AMSTERDAM, 22 MAY 2024 – Buoyed by continued industry resilience, European hoteliers and holiday rental operators have expressed the highest level of economic optimism since 2022 in the latest edition of the European Accommodation Barometer.

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• AMSTERDAM, 22 MAY 2024 – Buoyed by continued industry resilience, European hoteliers and holiday rental operators have expressed the highest level of economic optimism since 2022 in the latest edition of the European Accommodation Barometer.
• Another two-thirds (65%) reported positive business development in the past 6 months, and most notably those sharing negative expectations dropped to just 4% - in stark contrast to the 17% expressed in 2022.
• With sights set on the summer peak season, attentions are focused on the needs and wants of potential guests, with 50% European accommodations reporting a trend in shorter stays being the preference among guests, up 6 percentage points since the last Barometer.
• Almost half of respondents (48%) indicate their guests are booking further in advance, while 45% share that their guests are now booking cheaper rooms.
• The latter corresponds to almost half of European accommodations reporting growth in average daily rates (48%) and an uptick in occupancy rates (49%).
• Perhaps most significant, 46% of respondents report guests opting for more restrictive cancellation policies, a shift from the previous trend towards flexibility and up 15 percentage points since the last survey.
• Motivations vary: 67% will be investing with the hope of making long-term cost savings which likely correlates with the 78% who see energy costs as the number one risk to their business.
• Meanwhile, imminent legislation is likely on the minds of many given that 51% intend to invest to fulfill government requirements and 48% in order to attain a third-party certification - something that is also seen as a major opportunity by almost half (49%).
• “However, it is critical that we continue to delve deeper into the potential hurdles they still face and consider how best, as an industry, we can collaborate to ensure the ongoing growth and success of Europe's hotel and vacation rental operators.”.
• To download the full 2024 European Accommodation Barometer report and corresponding country-specific editions visit:

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