WEAKEEST HALF-YEAR START IN THE LAST 10 YEARS
After years of pandemic-related restrictions, which weighed not only on tourism but also on investment activity in the hotel market, the current crippling factors are persistently high inflation, restrictive monetary policy and, consequently, a weakening economy. It is therefore not surprising that with a transaction volume of €390 million, not only the already low figure for the previous year was missed by around 50%, but also the 10-year average was undercut by almost three quarters. This represents the lowest investment volume for the first half of the year since 2012. Not only the lack of portfolio transactions is noticeable here, but also the declining sales prices and the low number of transactions. In addition, the varying development of the overnight and performance indicators also makes investment activity more difficult across the various locations.