Unprecedented turnover decline in accommodation and food services

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© Hollandse Hoogte / Guus Schoonewille fotografie
Accommodation and food services is among the sectors that are worst affected by the measures against the spread of coronavirus. In Q2 2020, turnover in this sector fell by slightly more than half relative to the preceding quarter, as reported by Statistics Netherlands (CBS). The decline was particularly sharp in April. In Q1 2020, turnover in this sector already fell by almost 14 percent.

Turnover sector accommodation and food services (seasonally adjusted)
YearQuarterTurnover (2015=100)
2014Quarter 193.6
2014Quarter 293.8
2014Quarter 394.5
2014Quarter 495.9
2015Quarter 197.1
2015Quarter 299.5
2015Quarter 3100.3
2015Quarter 4102.8
2016Quarter 1103.6
2016Quarter 2104.2
2016Quarter 3108.2
2016Quarter 4108.3
2017Quarter 1110.5
2017Quarter 2112.6
2017Quarter 3113.9
2017Quarter 4115.5
2018Quarter 1117.8
2018Quarter 2120.8
2018Quarter 3121.1
2018Quarter 4123.5
2019Quarter 1122.6
2019Quarter 2125
2019Quarter 3125.7
2019Quarter 4128.1
2020Quarter 1110.4
2020Quarter 253.8

Accommodation establishments lost almost two-thirds of turnover

In Q2 2020, turnover in accommodation services, including hotels and holiday parks, plummeted by 64 percent relative to the preceding quarter. In Q1 2020, there was already nearly 15 percent turnover decline. For hotels, the decline was even steeper; in Q2 2020, hotels saw their turnover drop by over 75 percent relative to Q1. Last week, CBS already reported the sharp drop in the number of guests and overnight stays at tourist accommodations.

Turnover accomodation sector (seasonally adjusted), Q2 2020
SectorTurnover (% change from previous quarter)
Accomodation sector-64.1

Turnover food and beverage services almost halved

In Q2 2020, turnover generated by food and beverage services (including restaurants, fast-food restaurants, canteens, catering companies and cafés) fell by nearly one-half on the previous quarter. Turnover already decreased by almost 14 percent in Q1.

At almost 60 percent, cafés recorded the largest turnover decline. Fast-food restaurants (cafeterias, lunchrooms, snack bars, food stands, etc.) recorded the smallest decrease in turnover, although it was still substantial at almost 25 percent.

Turnover food and beverage services (seasonally adjusted), Q2 2020
SectorTurnover (% change from previous quarter)
Food and beverages services-46.2
Fast-food restaurants-24.7
Canteens and catering-50.4

Business confidence in accommodation and food services picks up slowly 

Entrepreneurs in the accommodation and food services sector are still very pessimistic. The sentiment indicator stood at -52.4 at the beginning of the third quarter. Historically, this is still very low, but it is considerably better than at the beginning of the previous quarter, when the indicator stood at -84.3.

Business confidence sector accommodation and food services
YearQuarterBusiness confidence
2015Quarter 16.8
2015Quarter 27.1
2015Quarter 310.8
2015Quarter 413.2
2016Quarter 110.3
2016Quarter 213.4
2016Quarter 39.7
2016Quarter 413.3
2017Quarter 114.9
2017Quarter 219.8
2017Quarter 321.5
2017Quarter 413
2018Quarter 118.4
2018Quarter 212
2018Quarter 312.3
2018Quarter 411.2
2019Quarter 111.9
2019Quarter 28.6
2019Quarter 37.4
2019Quarter 41.9
2020Quarter 10.2
2020Quarter 2-84.3
2020Quarter 3-52.4
Source: CBS, EIB, KVK, MKB-Nederland, VNO-NCW

No volume figures

Due to coronavirus-related government measures, the full extent of services was limited or unavailable in Q2. As a consequence, there were no transactions for many of these services for which prices could be measured. The volume figures could therefore not be calculated.