DACH Hotel & Chains Report 2026
Hotel investment regains momentum
Transaction volumes 2025 and first half of 2026, largest institutional owners in DACH
Sources: Hotelverband Deutschland (Hotelmarkt Deutschland 2025), Immobilien-Investment.at, MSCI Horwath HTL — DACH Hotel & Chains Report 2026
Hotel transaction volume 2025: Germany 1.84 billion euros (plus 40%), Austria 480 million euros (plus 43%), Switzerland about 428 million euros (record). First half 2026: Germany 741 million euros (minus 18%), Austria about 240 million euros. Largest institutional owners in DACH by rooms: Essendi 12,990, Union Investment 12,261, Event Hotels 9,839, Aroundtown 9,141, Pandox 8,842, Covivio 8,663, DekaBank 7,455, Art Invest 6,576, Patrizia 6,129, Commerz Real 3,630.