How Europe’s Lodging Sector Is Being Reshaped: New Skift Research

Skift Research estimates that the accommodations sector in Europe generated revenues of €238 billion ($251 billion US) in 2019. As a result of the pandemic, we estimate that the European accommodation sector suffered 45 percent year-over-year revenue decline in 2020 to €130 billion ($137 billion). The sector grew 14.5 percent to €149 billion ($157 billion) in sales in 2021 and we expect it to grow another 15.6 percent to reach €172 billion ($181 billion) in 2022, still 28 percent less than 2019 revenues. 

This report, a market size of the European accommodations sector, continues Skift Research’s effort to size the global travel industry. It builds upon our earlier U.S. Accommodation Sector market estimates by crossing the pond to Europe. This report covers businesses operating in the accommodation sector within all 44 countries in Europe

The fastest growing segment within the European market has been short-term rental accommodations. Short-term rentals represented 10 percent of the overall industry in 2008, 12 percent in 2017, and, due to its above-market growth rate, we expect it to reach the 17 percent mark in 2021. This report includes an analysis of, and estimates for, key hospitality performance indicators such as revenue per available room, average daily rate, and occupancy rate for the entire market, sub-sectors, and individual countries.

What You’ll Learn From This Report

• Europe accommodation sector market size estimates, 2008–2022E
• Europe hotels key performance indicators, 2008–2019
• Europe short-term rentals key performance indicators, 2008–2019
• Europe hotels market shares of 28 key countries, 2019
• Europe hotels key performance indicators for 28 key countries, 2019
• Breakdown of Europe total accommodation by business size, including number of companies, properties, rooms, employees, and revenue

Europe Accommodation Sector Market Estimates 2022

The composition of the European accommodations sector has drastically changed over the last decade with short-term rentals gaining a substantial share. The next few years will be very crucial in reconfiguring the sector further for business and consumers.

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