Nevertheless increasing inflation remains a huge hurdle.

The new hotels will join the four Fosun Tourism already operated in 2021 on Crete, Rhodes and Kos.

The hotel is let on a triple net lease for a further 15 years, expiring March 2037 with four-yearly upward only rent reviews.

Which hotel brands are leading new developments.

Radisson Collection Hotel, Berlin has completed an extensive twelve-month renovation

The current account deficit recorded a decrease of €2.5 billion year on year and stood at €5.4 billion.

The balance of travel services in July 2021 showed a surplus of €2,138 million.

Occupancy rates hit 85%.