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Insights

Hospitality MarketBeat

Market figures and trends for the Hospitality Market in Germany

DOWNLOAD H1 2025

Cushman & Wakefield recorded a total transaction volume of just under €2 billion in the German hotel segment for the full year 2025 - an increase of over 50 per cent compared to 2024. 

Despite this increase, the transaction volume was still around 30 per cent below the 10-year average.

KEY POINTS 2025
  • Overall, single transactions dominated the market, accounting for around 80% of the transaction volume.
  • A good half of the investment volume in 2025 was generated in the top seven markets, with Berlin clearly leading the way as in previous years, followed by Munich and Hamburg.
  • Among the largest transactions of the year were the sale of Blackstone's 17-hotel Keystone portfolio to Event Hotels in the portfolio segment, and the sale of the Mandarin Oriental Hotel in Munich in the single transaction segment.
  • The prime yields for hotel investments have not changed compared to the previous quarter. They remain at 5.50 per cent, as they have been since the end of 2023.
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'The significant upturn in the hotel segment is a strong signal. The increase in transaction volume shows that risk and return expectations are better aligned again.'

Christine Mayer | Head of Hotel Valuation Germany & Austria at Cushman & Wakefield

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How are transactions developing on the German investment market? Are yields rising or falling? And which asset classes are in demand? Our Investment MarketBeats give a quarterly insight into the German market, looking at Germany as a whole and the top 5 markets. 
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HOSPITALITY MARKETBEATS

EUROPEAN Hotel Investor Compass

Cushman & Wakefield’s fifth Hotel Investor Compass surveyExternal Link gathers insights from major investors active across Europe, who have collectively deployed nearly €18 billion in European hotels between 2020 and 2025.

The 2026 edition identifies Southern markets as top targets for investors. Healthy performance, balanced visitor mix, strong growth potential and high liquidity are set to place Italy, the Iberian Peninsula and France as Europe’s most in-demand hotel investment destinations this year.

View report

2026 Hotel Investor Compass - thumbnail

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CONTACTS

Christine Mayer, Cushman & Wakefield
Christine Mayer

Partner • 60311 Frankfurt am Main

Martin Polifke Cushman & Wakefield
Martin Polifke

Head of Business Development Services, Germany • 60311 Frankfurt am Main

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