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International travel company DERTOUR did a study on the most popular holiday destinations across the globe to determine the impact the coronavirus pandemic had on hotel and vacation rental industries.
The study comprised 75 cities with which they calculated the median price per night for a three, four or five-star hotel, as well as a vacation home.
Using this data based on the current situation, prices were then compared to before and during the pandemic.
DERTOUR also took data from the same period in 2019 to calculate the percentage difference between the midpoint of these prices for each city and discovered that the midpoint price for a night stay went down substantially.
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“Travel itself will be cheap in 2021 and 80% of the price for package tours is determined by the cost of flights and hotels. Especially in destinations that are not in great demand, costs should fall,” said Dr. Ingo Burmester, CEO DER Touristik Central Europe.
“We will pass this on to our customers. We also stand in solidarity with all our partners in the travel industry in trying to make 2021 a year of recovery for everyone.
“Although it has been a challenging period, we have seen a great deal of interest in domestic travel. We also predict a major catch-up effect for Mediterranean destinations, European trips and long-haul routes in 2021 as soon as travel restrictions are lifted.”
Top five cities with the largest price drop between 2019 - 2020
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