Luxury hotels is among the areas of the Dutch luxury goods market that has been hardest hit by the fallout of COVID-19. The category had a very difficult start to 2021, with occupancy rates for most establishments remaining in low single-digit figures due to lockdown measures and strict border controls.
COVID-19 has taken a particularly heavy toll on business travel in the Netherlands, both inbound and domestic. This has had a disproportionately negative impact on luxury hotels, as corporate guests and MICE activity are traditionally key revenue generators for these types of establishments.
Most luxury hotels in the Netherlands have recently adopted new hygiene and safety protocols to reduce the risk of COVID-19 spreading and provide reassurance to guests concerned about potential exposure to the virus. One notable consequence of the pandemic is that it has accelerated digitalisation in the category, with several establishments now offering contactless check in and check out facilities.
While much will depend on the evolution of the pandemic, luxury hotels is expected to see current value growth pick up in 2022. Growth is then projected to slow from 2023, but should remain healthy overall throughout the latter half of the forecast period.
It is expected the recovery of business travel will continue to lag behind that of leisure travel over the forecast period. In response, many operators in luxury hotels will work to reduce their dependence on corporate guests and MICE activity, and instead focus on catering to leisure travellers, especially domestic tourists.
Together with increased budget-consciousness arising from the economic fallout of COVID-19, the growing tendency of domestic and international travellers to turn to online intermediaries like Booking.com and Trivago when seeking accommodation will continue to fuel more intense price competition in luxury hotels over the forecast period.
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Understand the latest market trends and future growth opportunities for the Luxury Hotels (5-star plus) industry in Netherlands with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Luxury: includes luxury and upper upscale hotels. Would generally include 5-star hotels and above, but may include some “4.5-Star” outlets, provided that the brands positioning warrants it. The luxury classification is primarily determined by the brand’s positioning and marketing, which will be at the high-end. Brand examples include Marriott, Hilton, Sofitel and InterContinental.
See All of Our DefinitionsThis report originates from Passport, our Luxury Hotels (5-star plus) research and analysis database.
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