Austrian hotels recorded record overnight stays in the summer, but at the same time higher costs caused problems for many. As for winter activities, preliminary forecasts are cautious.
For four in ten hotels, the conclusion is cautious, said Secretary General of the Austrian Hotel Association (ÖHV), Markus Gratzner, in a broadcast on Tuesday.
However, in winter the situation would worsen. Because bookings for the season are lower than the rumored holiday plans of the main markets. According to this research, 42 percent of the 225 hotels surveyed currently expect a decrease in the number of overnight stays in winter.
Guests also save more: according to the research, two-thirds of winter holidaymakers reduce extra costs, 57 percent shorten the length of stay and a third save by choosing cheap accommodation.
Short notice bookings
As two out of three hotels indicate, bookings are made at very short notice. This means that the weather becomes more important for the course of the season.
Loans harder to get
For 56 percent of businesses, it will be significantly or at least slightly more difficult to obtain a loan. Given current interest rates, 57 percent are reportedly holding back on their investments.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
