According to the results of the 2024 European Accommodation Barometer 32% of accommodations with up to 9 employees said that they struggled to obtain financing and capital for their accommodation business. On the flip side, just over a quarter had little to no difficulty. However when we look at the responses from larger organizations a trend becomes apparent. The larger the hotel, the less likely they are to have difficulty accessing financing.
This trend of larger businesses recording better results in terms of their self-assessed room rate and occupancy as well as general business development is a common theme highlighted across the Accommodation Barometer survey sample. This indicates that challenges like increasing operational costs or staffing issues can have a greater financial impact on smaller businesses with poorer access to capital. Further, undergoing digital transformation and engaging in green initiatives become comparatively more costly to implement on a small scale.
