The hotel industry lost approximately 240 million EUR in the months of March, April, and May, following the roughly 6 million overnight stays that did not take place during this period, stated the president of the Federation of the Romanian Hotel Industry (FIHR), Călin Ile.
Călin Ile hoped that in the last seven months of the year, the industry would operate at a level of 40-50% compared to last year, and smaller hotels might need to limit their accommodation capacity.
At the same time, Ile stated that some hotels with financial problems will not reopen over the summer and there will be a wave of hotels put up for sale this year due to the crisis caused by COVID-19.
Frequently Asked Questions
What were the total losses for the Romanian hotel industry in early 2020?The industry lost approximately 240 million EUR during March, April, and May due to the COVID-19 pandemic.
How many overnight stays were lost during the lockdown period?About 6 million overnight stays did not take place during the three-month period analyzed.
What is the outlook for the hotel market for the remainder of the year?The industry is expected to operate at 40-50% capacity, with a significant number of hotels likely to be put up for sale.