economic situation
Hospitality industry with lower sales in August
In many hotels and restaurants, business is still doing worse than before the corona pandemic. Even during holiday periods, the industry as a whole does not have a positive balance.
Decline in sales for Germany’s innkeepers and hoteliers in the holiday month of August of all places: In the month, the businesses generated less revenue both adjusted for price increases (in real terms) and in nominal terms than in July of the current year, as the Federal Statistical Office has determined. In real terms, sales were 1.3 percent lower than in the previous month; in nominal terms, the decline was 0.9 percent.
The longer-term perspective is hardly better either: compared to August 2023, sales in the hospitality industry fell by 2.4 percent in real terms. In nominal terms there was at least a slight increase of 1.0 percent.
The industry has not yet reached the sales level of the time before the corona pandemic: in August 2019, real sales in the hospitality industry were 12.6 percent higher. During the pandemic, the federal government temporarily supported the hospitality industry with a reduced VAT rate. Since January 1, 2024, the regular VAT rate of 19 percent has again applied to food in restaurants, which results in higher prices for customers.
Federal Statistical Office for the Hospitality Industry and Tourism Federal Office for the Hospitality Industry 08/2024
dpa
Source: Stern
