German hotel market is slowly shaking off the corona crisis Frankfurt / Main (ots) – For a long time, the German hotel market only knew one direction: steeply upwards. Fired by the boom in city trips and an unimaginable soaring in the business travel segment, overnight stays have been set in series since the mid-noughties. The large metropolises in particular – above all the capital Berlin – also benefited from a strong increase in international demand. The room rates and occupancy rates rose continuously in all major cities despite the significant expansion of the hotel offer.
With the outbreak of the Corona crisis, the soaring was stopped suddenly, as expected. “The lockdowns, curfews and contact restrictions imposed around the world brought the hotel market almost to a standstill in Germany in 2020 and 2021. On closer inspection, however, there are clear differences depending on the city category. shows that the B cities * were able to recover from the crisis faster than the A cities ** “, says Alexander Trobitz, Head of Hotel Services at BNP Paribas Real Estate. While the former reached around 84% of the overnight stays in the pre-crisis year 2019 in August 2021, the major metropolises in the country only made up 71%. “This can mainly be attributed to the still below average number of international guest arrivals, which puts a special strain on the hotel markets of the A-cities. The resorts on the North and Baltic Seas, on the other hand, profited strongly from the demand of domestic holidaymakers and both exceeded the pre-crisis level in August 2020 as well as in August 2021, “said Trobitz.
In relation to Germany as a whole, the monthly number of overnight stays in the course of 2021 increasingly approached the level of 2019 and were almost the same in August and September. The average room occupancy rate of city hotels also increased noticeably in the course of 2021 and has consistently been above the previous year’s values since April. Although it is more than likely that the upcoming winter 2021/2022 will also be clearly marked by the corona epidemic, the past year and a half have proven that people’s desire to travel is still unbroken.
“The improved demand situation and the generally positive future prospects for the German hotel market are gradually being reflected in the investment market. While only EUR 250 million was invested in German hotel properties in the second quarter of 2020 as a result of the corona shock, the relevant figure was in the second Quarter of 2021 already more than twice as high with EUR 575 million. For the final quarter of 2021, from today’s perspective, it is becoming apparent that at least EUR 1 billion will flow into German hotel properties, which is to be seen as a strong signal of confidence in Germany as a hotel location “, predicts Alexander Trobitz.
* Bochum, Bonn, Bremen, Dortmund, Dresden, Duisburg, Essen, Hanover, Karlsruhe, Leipzig, Mannheim, Münster, Nuremberg, Wiesbaden
** Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Cologne, Munich, Stuttgart
The corresponding graphics and figures can be found in our analysis “In a Nutshell Hotel Market Germany” under the following link: https://ots.de/oaXaUH
Press contact:
Chantal Schaum Head of Public Relations BNP Paribas Real Estate Holding GmbH Goetheplatz 4 – 60311 Frankfurt am Main Phone: +49 (0) 69-298 99-948 Mobile: +49 (0) 174-903 85 77 E-Mail: mailto: [email protected]
Other material: http://presseportal.de/pm/50927/5092549
OTS: BNP Paribas Real Estate Holding GmbH
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