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The Czech Republic Hospitality Industry Outlook 2024 - 2028

See how the Czech Republic Hospitality performed compared to key markets such as the United Kingdom, Italy and France.

Key Market Indicators

**Czech Accommodation Expenditure on the Rise** Czech expenditure on accommodation is projected to climb to €1.9 billion by 2028, up from €1.8 billion in 2023, reflecting an average annual growth rate of 1%. However, since the year 2000, demand in the Czech Republic has seen a significant decline at an annual rate of 5.2%. In 2023, the Czech Republic ranked 15th in accommodation expenditure, with Norway slightly ahead at €1.8 billion. Leading the rankings were Italy, France, and Germany, occupying the second, third, and fourth positions respectively. **Decline in Czech Accommodation Establishments** The number of accommodation establishments in the Czech Republic is expected to decrease to approximately 149,800 bedplaces by 2028, down from 160,410 bedplaces in 2023. This represents a compound annual growth rate (CAGR) decline of 1.1%. Since 1995, the Czech supply of accommodation establishments has been on a downward trend, decreasing by 1.8% annually. In 2023, the Czech Republic was ranked 12th, with Belgium surpassing it with 160,410 bedplaces. Spain, France, and Germany held the second, third, and fourth spots in this category. **Growth in Czech Accommodation Services Revenue** Revenue from Czech accommodation services is forecasted to reach €3 billion by 2028, up from €2.7 billion in 2023, indicating an annual growth rate of 2%. Since 2010, the Czech market has grown by an average of 4.2% per year. In 2023, the Czech Republic ranked 18th, with Denmark slightly ahead at €2.7 billion. Spain, France, and the United Kingdom took the second, third, and fourth positions respectively in terms of revenue from accommodation services.

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The Czech Republic Hospitality Market Data and Forecasts