Trading conditions are still difficult in 2021. Significantly reduced demand due to ongoing and fluctuating travel restrictions present serious challenges to the sector.
The development of the short-term rental market in Poland prior to the pandemic had been fast and furious, causing some controversy as prices rose exponentially and locals looking to rent long term were often priced out of the market. However, in 2020 the outbreak of COVID-19 halted the rise, and several owners removed their properties from the short-term rental market and turned to long-term leases instead, in search of financial security for an uncertain future.
Recovery will be slow, with hotels that are reliant on business guests finding it particularly difficult. In fact, business travel my never return to the highs of pre pandemic times and this could signal the end of the road for several hotels in Poland.
Investment in lodging facilities has fallen as a result of the pandemic. In 2021, hotels that had been scheduled to open prior to the pandemic, managed to open their doors.
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This report originates from Passport, our Lodging research and analysis database.
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