The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals Germany’s Travel & Tourism sector is recovering at pace to recover to within 95% of pre-pandemic levels.
pre-pandemic levels reached by 2024 as 117.9 million will take to the skies, according to GlobalData
The World Travel & Tourism Council’s latest Economic Impact (EIR) reveals the Travel & Tourism sector in Germany will catapult the national economic recovery and could surpass pre-pandemic levels next year, nearly 2.5% above 2019 levels.
When we wrote the last edition, we had no idea that global events would cause such chaos in a market which had seen unprecedented success in 2019. Needless to say the events of the last 20 months have thrown the ownership and performance of the hotel industry into sharp focus, exacerbating friction between owners and operators, putting pressure on lenders, making development debt something of a mirage and laying waste to the best laid plans of many giants in the industry.
Of those contacted for the survey, almost 95 percent expected the German hotel market to recover to its 2019 record level by 2022 or 2023 latest; none of the respondents, however, were expecting a full recovery next year.
Ahead of EXPO REAL trade fair, STR conducted an analysis on the correlation of growth in Germany’s GDP and hotel revenue per available room (RevPAR). In addition, forecasts from STR and Tourism Economics project German hotel markets to see higher RevPAR in 2020, despite occupancy declines and the uncertainty around an economic recession.
This article gives an overview of the latest hotel real estate trends in Germany, the booming hotel investment market and the movement of hotel values in the country.
e-forecasting.com Releases May Monthly Hotel Forecasts For Multiple UK Destinations And German Markets