An American consulting firm focused on the hospitality industry projects that Israel’s hotels will only return to pre-pandemic revenue levels in 2024.
However, the Israel Hotel Market Overview 2020 report by HVS, presented at a webinar organized by Israel Tourism Ministry, was generally positive.
“We are cautiously optimistic when considering the Israel hotel industry’s ability to recover at an accelerated pace compared to other countries in the Mediterranean region,” HVS said. “Although this crisis is unprecedented and still deeply uncertain, Israel’s hoteliers have had exceptional experience on how to thrive in periods of uncertainty.”
Home Front Command soldiers walk outside the Dan Hotel in Jerusalem that was converted to receive coronavirus patients, March 17, 2020 (Olivier Fitoussi/Flash90)
File: General view of the closed Isrotel Orient Hotel in Jerusalem on April 11, 2020, during a partial lockdown, in order to prevent the spread of coronavirus (Olivier Fitoussi/Flash90)
The report expects the RevPAR (revenue per available room) metric to sharply increase in 2021, occupancy to return to normal in 2023, and RevPAR to return to 2019 levels by 2024.
“We note that the situation remains fluid; forecasts may change as time passes and as more light is shed on the rate of recovery,” HVS says.
Is The Times of Israel important to you?
If so, we have a request.
Every day, even during war, our journalists keep you abreast of the most important developments that merit your attention. Millions of people rely on ToI for fast, fair and free coverage of Israel and the Jewish world.
We care about Israel - and we know you do too. So today, we have an ask: show your appreciation for our work by joining The Times of Israel Community, an exclusive group for readers like you who appreciate and financially support our work.
Yes, I'll give
Yes, I'll give
Already a member? Sign in to stop seeing this
You appreciate our journalism
We’re really pleased that you’ve read X Times of Israel articles in the past month.
You clearly find our careful reporting valuable, in a time when facts are often distorted and news coverage often lacks context.
Your support is essential to continue our work. We want to continue delivering the professional journalism you value, even as the demands on our newsroom have grown dramatically since October 7.
So today, please consider joining our reader support group, The Times of Israel Community. For as little as $6 a month you'll become our partners while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this