"The widespread vaccine distribution across Europe is likely to influence large scale hotel reopening dates and the subsequent recovery period, with domestic and short-haul leisure travel to experience the initial bounce"

"Positive vaccine trials to boost hotel sector"

"Google mobility data demonstrates pronounced improvements in travel across leisure-led locations, translating into strong occupancy and ADR performance"

"Green shoots stemming from the phased reopening of economies, plentiful policy support and slowly improving data is beginning to be seen across the European Hotels market"

"As you're aware, the situation remains highly fluid with downside risk, particularly as the big unknown in terms of how long the situation will last remains"