Unprecedented drop in turnover’ hospitality industry, especially hotels hit hard

Turnover in the hotels and restaurants sector fell by just over half in the second quarter of this year compared to the first quarter, according to Statistics Netherlands (Centraal Bureau voor de Statistiek (CBS)), which speaks of an unprecedented drop.

Hotels turned in more than 75 percent less in April, May and June than in the first three months of the year. Turnover loss for food and drinks outlets was nearly 50 percent. Pubs in particular saw their turnover drop by nearly 60 percent.

In January, February and March, turnover in the sector hotels, restaurants and cafรฉs had already fallen by nearly 14 percent. It is one of the sectors most severely affected by the corona crisis, according to Statistics Netherlands. The cabinet decided on 15 March that eating and drinking establishments had to close. Pubs and restaurants reopened on 1 June, although there are still corona restrictions such as keeping enough distance

Hotels remained open in principle, but also experienced the consequences of the crisis.

Pessimistic

Entrepreneurs in the industry are still gloomy. Business confidence at the beginning of July was -52.4 percent. At the beginning of April it was still -84.3 percent.