Market Size of Hospitality Industry in Germany
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Hospitality Market Analysis
- The hospitality industry in Germany is dynamic and growing. In 2018, the industry witnessed an addition of more than 16,000 rooms and 200 hotels.
- With the increasing number of tourist arrivals, the hospitality industry is projected to grow further in the future. Travelers from abroad spent more than 39 million nights in the country during the first half of 2019, which was 3% more when compared to the same period in 2018, according to Germany's Federal Statistical Office.
- Domestic tourism is also increasing rapidly in the country. In the first half of 2019, the overall overnight stays by Germans within their home country rose by 4% to around 182 million, as compared to the same period in 2018.
- Germany has been recording an increasing number of leisure trips and business trips. The country is home to a number of companies, with more than 200 brands that are spread across Germany.
- Germany is also home to a large number of independent hotels with more than 20,000 hotels that perform independently and cover all the segments. The international brands have their footprints all over the leading tourist destinations, with a high number of rooms; however, domestic brands have their presence in the tier-II cities, with good market coverage.
