Annual estimate
Hospitality industry continues to lose sales
High prices, fewer and fewer customers: pubs, restaurants and hotels also did less business last year. The cash register is still good in many places.
The hospitality industry in Germany will continue to lose business in 2024. Price-adjusted sales in the catering and accommodation sectors were 2.1 percent below the previous year’s value, as the Federal Statistical Office reported based on an initial estimate. Only through price increases did the industry manage to increase nominal sales by 1.0 percent compared to the previous year.
So people went out less often, but had to pay more for drinks, food or overnight stays. This means that trends from the period after the corona pandemic continued. Since the pre-crisis year of 2019, sales in the hospitality industry have fallen by 12.6 percent after adjusting for prices, while innkeepers and hoteliers have increased their revenues by 10.4 percent thanks to price increases.
The catering industry is more affected by the downturn. Your real sales in November 2024 were around 17.1 percent less than five years earlier. For accommodation companies, the gap is only 4.9 percent.
dpa
Source: Stern
