Germany’s hotel business has experienced a good year according to Jones Lang LaSalle.
In its latest European Hotel Property Digest, the property experts reported a rise in occupancy rates, room rates and revenues per available room for almost all German cities.
The Berlin hotel market remained unaffected by the raft of new hotels, recovering from its fall in earnings between 1992 and 1996, registering a 10.5% growth in earnings per room. However, the average net room rate in city is still the country’s lowest at €101.73 (DM198.97) despite rising to €61.82 (DM120.90).
Meanwhile, the hotel market saw a noticeable increase in long-term leasing deals in the last two months of 1999, following an immobile year. Transactions included the €31m (DM60m) sale of the Radisson SAS in Hanover and the €27m (DM53m) disposal of the Dorint hotel in Mainz.
Frankfurter Allgemeine Zeitung, 07 January 2000, page 49
