Economy

Total European hotel investment volume for the year finished 19% below 2022 according to the "HVS European Hotel Transaction" report of HVS.

The fair value of the Group’s investment properties (incl. inventories) amounted on December 31, 2023, to €167.5mn vs €97.0mn as of December 31, 2022

The management of the hotel and the branded residences will be assigned to an internationally renowned management company.

Prices remain at levels that many buyers find difficult to finance, especially with the benchmark lending rate at a 16-year high.