Forecast: Turnover of Hotels in Germany

Over the period from 2013 to 2023, the turnover of hotels in Germany experienced significant fluctuations. Following a steady growth path from 2013 through 2019, there was a substantial drop in 2020 due to the COVID-19 pandemic, resulting in a 50.97% decrease year-on-year. The sector rebounded in subsequent years with a notable 58.2% increase in 2021 and continued growth through 2023, showcasing a 15.83% year-on-year rise. As of 2023, the turnover stood at €35.76 billion, marking a recovery and evolution path after pandemic disruptions.

Future trends to watch for include:

• Continued recovery and growth in the hotel sector post-pandemic, aided by increasing travel and tourism.
• A forecasted average annual growth rate (CAGR) of 2.72% over the next five years, with expected turnover reaching €42.46 billion by 2028.
• Potential impacts of economic fluctuations, geopolitical events, and changes in consumer behavior on the hotel industry.
• Advancements in digital transformation and technology adoption influencing operational efficiencies and customer experiences.