Central and Eastern Europe (CEE) is an attractive region for hotel development. In the years leading up to the coronavirus outbreak, increased tourism boosted hotel performance and attracted international investment. Over five years to 2020,
in the CEE-6 (Bulgaria, Czechia, Hungary, Poland, Romania, and Slovakia) amounted to almost four billion euros, with investment highest in Czechia. Although
are lower in Eastern Europe than in the rest of Europe, the market experienced a higher growth rate. Hotels in the region are expected to recover from the impact of the COVID-19 pandemic in the coming years.
Hotel markets in the CEE region
Czechia, Hungary, and Poland are among the most important hotel markets in the CEE region, notably in the major cities. The Czech capital of Prague, for example, is a popular destination for international tourists.
Revenue per available room (RevPar) in Prague was one of the highest in the CEE-6, just behind
hotels in Budapest in Hungary. Although development tends to focus on the capital cities, interest in regional cities is also high. In Poland especially, the cities of Kraków, Gdańsk, and Wrocław are other
key destinations besides Warsaw. All cities, however, suffered the consequences of the coronavirus outbreak in 2020, with average revenues dropping as low as 10 euros per room.
Impact of COVID-19 on hotel market development
Despite being significantly affected by the COVID-19 pandemic, the CEE region continues to attract investment in its hotel market. Although tourism and hotel operations stalled during the coronavirus outbreak in 2020, the
supply of hotel rooms was expected to grow across the major CEE cities in 2023. According to Statista’s forecasts,
hotel industry revenues in Poland and other CEE markets were forecast to return to pre-pandemic levels by 2023.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
