Hotel Market in Germany: Annual Review of 2020
Performance analysis of the A destinations
Any desire to look back at 2020 at all?
This question is certainly fair. The past year was too dramatic for many people around the world, in Germany, and especially in the hotel industry.
Indeed, the hotel industry was too accustomed to success. It is the only industry in Germany that can look back on 10 years of uninterrupted growth and reliable returns. However, a virus called Covid-19 suddenly put a harsh end to this.
For those of you who are familiar with our free hotel benchmark service and receive the monthly Fairmas Hotel Report will be aware of the special feature of the January edition.
Right after the evaluation of the key performance indicators for December 2020 in Fairmas Hotel Report January 2021, you will also find our benchmarking annual review for the top destinations of Germany: Berlin, Hamburg, Dusseldorf, Cologne/Bonn, Frankfurt as well as Munich.
Although a little luck will probably be needed to defeat the virus that is so difficult to get a grip on in the near future, forward-looking decisions are also based on past experience. Examining the recent events based on hotel performance indicators should help you to identify relationship patterns and to gather helpful information for your decisions in the future.
Nevertheless, this review can only provide an initial overview. The annual review of the German hotel market for the above-mentioned A-destinations is only an introduction and far too general when it comes to decisions at the management level in the hotel on site.
If you are interested to know how you can easily and automatically include the market development of your direct competitor environment into your individual hotel budget and forecast planning, feel free to make a personal demo appointment.
You can read the entire Hotel Report January 2021 with a Full Year Review of 2020.