The Tension Between Independent Hotels and Branded Hotels in Europe

Europe's independent hotel sector contracted by around 12% from 2010 to 2019. Rising utility bills for energy and the rising worker wages it may push more independent hoteliers to sell their properties. So in short you may have a once in a generation turnover of lodging stock but it's not all gloomy. Brian, I feel it's understandable that after the pandemic the travel industry is really focused right now on making money. What's painful for some represents an opportunity for others.