Like many other areas of the travel industry, lodging in general, but hotels in particular, suffered from the sharp and unexpected decline in inbound arrivals in 2020, as the COVID-19 pandemic arrived in Europe. Hotels located at airports or those that catered primarily to business arrivals suffered the most, as these flows take longer to recover.
While occupancy declined sharply across the board in 2020, and most hotels were closed altogether during the lockdown period, most hotel outlets were offered a lifeline of government support through the government-backed “Kurzarbeit” programme. This allowed employers in all sectors to reduce hours for employees without terminating those positions entirely, with the government stepping in to cover the lost wages, in the expectation that employees will eventually return to work as usual.
Fast-growing mid-priced hotel chains like Holiday Inn Express, Moxy and Wyndham Garden, each of which have been gaining sales share in recent years through new outlet expansion, will be the quickest to recover as hotel operations begin to normalise following the lockdown period of early 2020. The chained mid-priced segment in particular had been expanding to meet the growing demand, which, for years, had been putting pressure on an under-supplied hotel channel Germany.
Short-term rentals was one of the fastest-growing and increasingly consolidated areas in lodging in Germany, fuelled by Airbnb’s rapid growth, a limited supply of traditional lodging options, and the growing interest among consumers in convenient, digital-based and affordable alternatives. The incredible growth from Airbnb in particular has been controversial in many German cities as the platform created a potentially unforeseen opportunity for individuals to make a business of purchasing or renting apartments across many cities, putting pressure on the local apartment rental market in terms of availability and driving up prices for residents.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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