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Good Times for Hotels in Germany

News The latest report by HVS London unleashes some very interesting stats concerning hotels in Germany. The accommodations in this country recover much faster than in the rest of Europe. Nowadays hotels in the majority of German cities have reached pre-recession levels.

There are numerous reasons for such improvement. The country’s manufacturing industry develops quickly, so more people come to Germany for business purposes. Export is also increasing. Finally, overnight stays in hotels in Germany now are less costly due to decrease of VAT from 19% to 7%.

Hotels in Munich are among the leaders in terms of RevPAR (revenue per available apartment) growth. Successful business strategy and the 200th Octoberfest in 2010 allowed exceeding the 2008 level. In 2010 RevPAR estimated €85.41, which is 9.5% higher. However, there are some outsiders yet. Hotels in Stuttgart and Dusseldorf recover more slowly than in the rest of the country.

Germany is also very active in terms of the number of transactions with hotels. During the first 6 months of 2011 as much as 15 hotel transactions have taken place here.

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