German hotel industry is getting increasingly competitive, to a degree where only the newest and most innovative concepts stand out and attract guests. These new concepts are changing the face of the local industry, with over 500 hotels housing close to 80,000 rooms set to open their doors to incoming guests in the very near future.
According to the new data, provided by the TopHotelProjects, a leading b2b hotel data provider, these new hotels are focused on smart budget and middle class, a perhaps less saturated sector of the hotel industry in Germany market.
The portfolio sales by various famous hotel chains have also been contributing to the shift in the industry, with yet more properties currently in the hands of well-known chains set to change operators in the future.
A local hotel chain which is certainly making headlines for the right reasons is Hamburg Novum Group, which was recently expanded from 41 to 60 hotels and has acquired some prime pieces of real-estate which have been or are currently being renovated and converted into new hotels for the rising group.
Michael Zehden, a Berlin real-estate tycoon, is also looking into acquiring some new prime real-estate to expand the Hotel Holding Albeck & Zehden from 4 to 14 properties, by the way of a managerial takeover.
Finally, the Swedish investment company Pandox has also made headlines among the German hotel industry by being involved in a portfolio sale costing around 400 million euros. Record-breaking transactions like this one have been a trend in recent months and are predicted to continue taking place at the dawn of the New Year.
Germany is a top-rated market in the hotel industry and one that usually attracts the attention of international investors, whether they are looking for property to buy or to branch out with a new concept. The reason for this is quite obviously the record-breaking 424 million overnight stays registered in the country last year, a record which is expected to be broken once again, keeping the eyes of the industry glued to the burgeoning market.