Press Releases

French Hotel Market Outlook 2024

France has been the world’s top tourist destination for over three decades. Millions of international visitors are drawn to explore the country’s abundant natural beauty and remarkable architectural heritage each year.

Adele’s residency drove substantial gains in Munich hotel performance

Adele’s 10-day residency drove significant performance growth for Munich’s hotel industry, according to August 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

Hotelschool The Hague: 13% less business travellers to Amsterdam – but they stay 16% longer

Hotelschool The Hague announces insights from its first Yearly Outlook report, revealing that international business travel has fully recovered, surpassing pre-pandemic levels by 2% in 2024. This recovery marks a significant milestone for the global hospitality industry. In combination with key trends such as extended stays, shifts in accommodation preferences, and the rise of sustainable travel practices taking center stage. Authored by Jeroen Oskam, Director of the school's Research Centre, the report offers strategic insights for industry leaders entering a phase that is different from pre-pandemic times, driven by new developments in business travel.

Poland's Rise in Popularity During the Shoulder Season

As travelers search for new, less crowded, and more affordable European destinations, Poland has emerged as a top choice. Once overshadowed by its more popular Western European neighbors, Poland is now attracting the attention of travelers during the shoulder season, a time traditionally considered less busy for tourism. This shift is driven by the growing desire for offbeat destinations that offer rich cultural experiences without the overwhelming crowds found in more famous spots.

Berlin Hotel Market Spotlight

Berlin is at the top of the list of the world's favourite destinations for city breaks, both in Germany and internationally. The hotel landscape is correspondingly lively - increasingly sustainable and with numerous modern, new and individual concepts.

After expecting a slight revival in the hotel investment market at the beginning of the year, our latest Hotel Market Spotlight for Berlin now looks at the hotel performance itself.

How have profits and revenues developed within a year (H1 2024 vs. H1 2023)? Have operating costs and expenses increased? And what proportion do wage and labour costs account for? Here are the key findings:

Spotlights

• Despite considerable cost pressure, the full-service branded hotels in Berlin recorded rising profits in the first half of 2024.
• The occupancy rate reached 71% in the first half of 2024, up from 68% in H1 2023.
• While utility costs fell by 23%, the overall operating expenses increased by 13%. Labor costs recorded the strongest growth of 10% compared to the previous year.
• Nevertheless, thanks to 4% revenue growth, the GOP (gross operating profit) per available room rose by 2%.

Christine Mayer, Partner, Valuation & Advisory Services:

'The revenue of hotels in Berlin continues to recover, underpinned by Berlin’s popularity as a tourism and business destination. It is good to see that this also translates into improved nominal profits despite the cost pressures. A good sign for hotel investors and operators.’

Access the full report here

Cushman & Wakefield

Berlin, Germany

Summer Olympics drove Paris room rates to all-time highs

The Summer Olympic Games drove Paris hotel average daily rate (ADR) to an all-time high, according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

Zleep Hotels and Core Hospitality merges

Danish hotel company Zleep Hotels A/S is merging with the third-party hotel management company Core Hospitality A/S, creating the 4th largest hotel operating company from Denmark. The merger happens immediately after a split with Deutsche Hospitality; while the German hotel group now owns 100% of the Zleep Hotels brand, Core Hospitality owns 100% of the operations in Denmark.

IHG Hotel in the Wild Returned to Wilderness presented by Audi for a second year

The renowned IHG Hotel in the Wild once again returned to Wilderness presented by Audi last weekend. Following last year’s debut, the pop-up hangout was the place to be for festival goers and celebrities to kick back and enjoy heartfelt hospitality curated by IHG Hotels & Resorts.

Analysis: Paris Olympics travel, summer destinations

Summer is heating up (or cooling down, depending on where you’re reading from) and with this time of the year comes one of the busiest times to travel. Looking at these trends can help us make sense of our behaviors, the influences of travel decision-making, and predict years to come.

Portugal hotels climbing the ladder

Portugal’s room stock is shifting towards the luxury segment as hotels are repositioned and new brands enter the market, according to Global Asset Solutions’s Portugal Hotel Market Outlook 2024.