CEE Hotels Report June 2024

Hospitality industry in CEE & SEE region proved its resilience and ability to rebound quickly. The 2023 hotel industry results surpassed most expectations in many countries. We have seen a steady growth in the number of tourists visiting the region as well as an increase in number of the luxury and butique hotels and expansions of existing hotel chains.

In the CEE & SEE region, by far the most visited city is Prague, followed by Budapest and Bucharest. However, none of these cities are expected to reach the 2019 levels of international overnight visits in 2024. On the other hand, Belegrad has already exceeded the 2019 level in 2023, and Warsaw and Sofia are expected to do so in 2024.

Since 2023, we have been seeing a shift in the hotel investment activity in the CEE & SEE region, with investors becoming more active in acquiring hotel properties or entering into joint ventures.

Since 2019, the Czech Republic has been leading the hotel investment volumes in the region, followed by Croatia and Hungary.

If you want to find out more about the insights and trends in the hotel sector in our dynamic region, please, download the full report.