VOLUME ON LEVEL AS DIRECTLY AFTER THE FINANCIAL CRISIS
The German hotel investment market once again failed to record any sustained revival in the third quarter. Accordingly, the total transaction volume recorded by the end of September amounted to just €573 million, the lowest result since 2010. While the previous year's result was undercut by slightly more than a half (-56%), the decline compared with the ten-year average was even more pronounced at -73%. Despite the very low transaction volume, a recent increase in buyer interest has nevertheless already been observed, which is attributable to the now again high hotel occupancy rates. However, the pricing phase remains dynamic, which is why transactions are currently being realized primarily in the small-scale segment. Consequently, as in the same period of the previous year, no major portfolio transactions were recorded in the first nine months of the year.