Industry revenue of »hotels and similar accommodation« in Czechia 2011-2023
Initial projections for the medium term demonstrated a 17 percent growth in industry revenues, owing to the continued growth in tourist arrivals and commencement of new hotel projects, such as the Andaz Prague. However, the outbreak of the Covid-19 virus has had a particularly detrimental impact on travel and hospitality and as a result the sector is likely to go through a recessionary phase, at least over the short term. A month long state of emergency has currently been declared in the country which has resulted in all operations being stalled in hotels and restaurants until the first week of June.