It is no surprise that the corona crisis has had a big impact on the tourism sector. Hotel occupancy in Amsterdam was down to 38% at the end of August 2020. At the same time only 233 hotels were open. At the start of the year around 300 hotels were open. That’s a significant drop. The closed hotels are not being factored in the 38% occupancy rate. That rate is only calculated based on hotels that are open.
The below chart shows the occupancy rate (red) and the amount of hotels that are open (green) and compares those numbers from 2020 to 2019. It’s quite easy to point to when the lockdown started.
What this means for the Amsterdam economy and maybe the housing market in Amsterdam remains to be seen.