Holidays are likely to become more expensive in the future. Hotel and restaurant operators are themselves suffering from rising prices and have to pass the costs on to customers, at least in part. Some reach the pain threshold.
Hoteliers and restaurateurs in Germany are looking to the coming months with concern: According to a DIHK survey, 63 percent of tourism businesses expect their business activities to deteriorate over the next twelve months – more than ever before. The biggest problems are the high energy and raw material prices, the lack of staff and labor costs. Almost a third of the companies in the hospitality industry want to reduce their offer, for example the opening times.
The Association of German Chambers of Industry and Commerce (DIHK) surveyed around 2,000 tourist businesses from the end of September to mid-October. More than two-thirds (69 percent) said they wanted to pass most of the increased energy costs on, where possible. “For customers, this means prices will continue to rise,” explained the DIHK.
For many companies, however, the question arises as to when the pain threshold for their customers will be reached. The DIHK warned that not all companies could price in their cost increases one-to-one and would have to make do with lower margins or even losses in order to maintain their services.
The current situation, on the other hand, is “satisfactory”, as the survey showed, “even better than the average for all sectors”. Because the tourist businesses could have used the “first summer and beginning of autumn” without corona restrictions and operated under normal conditions again. According to the survey, however, they fear possible new restrictions to combat the corona pandemic.
The Federal Statistical Office counted 47.2 million overnight stays by domestic and foreign guests in September – that was 4.7 percent more than in September 2021. According to the information, the number was still 1.1 percent below that of September 2019 before the Corona Pandemic. In addition to the hospitality industry, the DIHK also counts travel agents and trade fair and congress organizers among the tourist businesses. According to the survey, business expectations for the latter two have also fallen significantly.
