German hospitality sector
German hospitality sector
If we take a look back in the past, or lets say, if we were to compare ourselves to our neighboring EU countries, it would be fair to say Germany hasn’t exactly been renowned for its hospitality,ever.
Yet, that seems now set to change. According to Colliers International, the German hotel investment market is yet again to break a record this year, following that of 2017.
The hotel investment market has been showing considerably strong performances with a transaction volume at over €1.9bn in H1 2018. And in this sector, it seems that German and foreign investors have been claiming almost equal shares of transaction volume. Foreign investors accounted for 49% of the transactions, with a clear increase from investors in the Middle East, while German investors took 51%.
4-star hotels are going strong, securing top position in the sector with around €44% of investment (€850m) in total. 5-star hotels and the luxury segment also saw an increased from 10% in 2017 to around 22% (€420m) at mid-2018, followed by 3-star hotels and boarding houses.
While Germany might still not be the top of the list for some tourists, it is definitely showing a great potential as the country opens up more on an international scale. To back it up even further, the Federal Statistical Office (Destatis) has published figures showing the steady and continuos rise of overnight stays in German hotels, with a growth of 4% from the period of January-July 2018 alone. The nominal turnover of the German hospitality industry also grew by 2.5%.
As the tourism market clearly continues to grow steadily, mirrored in the number of new hotel builds on the market, it is even predicted that the supply level of new hotels is soon to be at a shortage, thus limiting transaction volumes, although the demand remains strong.
Well, we guess its fair to say that is definitely a welcome change and a great chance for us to revive the hospitality perception of Germany again.
If you too have a demand and are looking to invest in this striving sector, or just need some further research or consultation for any specific market and/or area in Germany. Do give us a call. We may just have the right property for you, and if not, we will surely find one together.
Bringing the German market closer to you,
German hospitality sector
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German hospitality sector