3 min read
Good news in the hotel industry are never enough: Engel & Völkers and HQ revenue (formerly HQ plus) have released a new sentiment report that outlines the major market trends in the European and German Hotel Industry for 2018. And guess what? We’re in for another great year.
Thanks to a thorough analysis of data provided by HQ revenue on European occupancy data, destination demand, and room prices, the report draws a clear picture of the overall situation in Europe, providing specific insights into the German market.
Expected growth for 2018
The European market is set to follow the global growth trend in the travel industry that sees businesses growing steadily every year thanks to a constantly increasing demand. Last year alone, the number of registered visitors in Europe increased by 8%. And so has occupancy, which has gone up to 71.9%.
The local German market perfectly exemplifies these tendencies, with five of its main cities turning into focal points in terms of hotel growth. Berlin, Hamburg, Munich, Frankfurt and Düsseldorf all share a high score in the attractivity index despite their many differences.
While some cities like Berlin see their growth in parameters like the transaction volume and RevPAR, other destinations, like Munich and Frankfurt, are enjoying a new growth in demand: all signs of a dynamic market that is holding many promises for the coming months.
About HQ revenue
HQ revenue (formerly HQ plus) offers a precise overview of the most important distribution channels to revenue managers and hoteliers for both individual and larger hotel chains. Their proprietary software combines all relevant data into a user-friendly interface. This enables a timely response to market changes and thus significantly contributes to the sales and earning improvement of each house. HQ revenue is Europe's current market leader with circa 2,000 customers. The company, founded in Berlin in 2012, currently has 24 employees.
About Engel & Völkers Hotel Consulting GmbH
Engel & Völkers Hotel Consulting GmbH (EVHC) was formed as a holding company within the Engel & Völkers network in November 2016. It pursues an end-to-end advisory approach in order to support owners, investors and operators throughout the entire hospitality life cycle. The company‘s service spectrum covers the areas development, strategy and asset management as well as transaction advisory on the buyer or seller end. EHVC bene ts from the wealth of experience and extensive track record of its staff, and may take advantage of the international network of Engel & Völkers which includes branch of ces in 32 countries on four continents. It is a fully-owned subsidiary of Engel & Völkers Investment Consulting GmbH.
Get the full story - download the free report