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Spain and Portugal’s Large Hotel Chains Do Not Expect the Sector to Recover Until 2023

Hotels in Spain and Portugal will recover at different speeds depending on their location, with those situated on the coast and islands reaching pre-Covid levels sooner than urban ones, according to Cushman & Wakefield.

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The hotel sector is already counting the cost of the damage caused by the pandemic and more than nine months of almost non-existent tourist activity. Specifically, the large hotel chains do not expect to return to the figures recorded at the end of 2019 in terms of billing, employment and investment until 2023.

That is according to a survey by Cushman & Wakefield Hospitality, carried out during the first week of November and involving the 50 largest hotel chains in Spain and Portugal.

Read the full article in Spanish.

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