Impacts of COVID-19 on selected tourism industry branches 2
Accommodation and food service Hotel Globally, hotels have reported having extremely low occupancy rates, or have experienced closures on a massive scale. Big hotel chains have seen their stock price plunge as a result. In Europe it was estimated that 76% of hotels were closed. According to STR, in the first week of May many countries had an average occupancy rate lower than 30%. Some shared accommodation categories, such as hostels or camping, may be impacted in the longer term. Shared accommodation platform economy The virus outbreak has put shared accommodation platforms under pressure, with reported declines in apartment bookings. In May, Airbnb cut 25% of workforce29 . Holiday resorts Ski resorts were forced to end the winter season earlier due to increasing coronavirus spread, and those that have successfully diversified to develop an alternative summer season offer are increasing seeing this at risk. The future for beach resorts in the Northern hemisphere summer remains