Could Austria be the new hospitality hotspot in Europe? The Latest findings by TOPHOTELCONSTRUCTION could suggest so…
With more than 12,000 rooms due to be added to Austria’s hotel market in the coming years, according to TOPHOTELCONSTRUCTION, the Alpine nation of Austria is adapting to growing demand.
According to the online database, 90 hotel projects are currently in the development pipeline in Austria, 62 per cent of which will open as either ‘first class’ or ‘luxury’ properties.
For 2020 specifically, the region is expected to welcome 29 hotels, which will add a further 4,125 rooms to the Austrian hospitality scene, which compared to 21 openings in 2021 and just nine openings in 2022, suggests that the next 12 months will see the market peak in Austria with a flurry of new design-led hotels entering the market place.
Austria’s capital, Vienna, will be the backdrop of 27 of these openings, adding 5, 488 new rooms in the city. This follows the demand for more urban, midscale four-star developments in Vienna, as the tourism board recorded an increase of almost 12 per cent in room revenue between the months of January to November.
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