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Outlook 2024

Text from the year-end report 2023 published on 8 February 2024.

Conditions in place for some growth 2024

For 2024 we anticipate some RevPAR growth in the hotel market, supported among other things by a strong event calendar in Germany, with the UEFA European Championship in June–July, and stable market conditions in other markets. Bookings in Pandox’s markets are up to now slightly higher than at the same time the previous year. Lower inflation and hopefully also lower interest rates should have a positive effect on household consumption, and should also be able to lessen the effects of a potentially weakened labour market and lower employment.

Hotel demand is dependent on economic activity and the most significant risk is still the consequences of geopolitical issues impacting the economy and travel, which has not yet materialised. The date of Easter is expected to have a certain negative impact in some markets in the first quarter.