At a Glance Q4 2023

Hotel investment market Germany

Hotel-Investmentmarkt Deutschland


The momentum of transactions in the German hotel investment market significantly increased towards the end of the year. In the final quarter, almost €770 million was invested in hotel properties, resulting in an investment volume of over €1.3 billion for 2023 overall. However, the hotel investment market has also been impacted by a significant rise in financing costs. Compared to the previous year, the investment volume decreased by 29%, missing the 10-year average by 60%. Single transactions accounted for €980 million or 73% of the investment volume in 2023, once again in line with the long-term average. Although transaction activity in the portfolio segment remains low, there was an increase of almost 55% to around €360 million in investment volume compared to the weak result in 2022.

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