Good summer mood in Thuringia's hospitality industry evaporated
Thuringia's restaurateurs and hoteliers had good sales in the summer, but their expectations for business development in the cold season are subdued. This is the result of an economic survey by the Erfurt Chamber of Industry and Commerce, which was presented on Tuesday. According to the Chamber, the hospitality industry can only slightly decouple itself from the general downward trend in the economy. The price increases for energy and food as well as the ongoing shortage of labor are causing problems for businesses.
From January to August 2023, the number of guests increased by 11.3% compared to the same period last year, the chamber explained. 44% of businesses rated their current business situation as good, 23% as poor. 38 percent of respondents were skeptical about future business development.
Despite the positive summer sales in Thuringia's hospitality industry, the economic situation has led to subdued expectations for business development during the cold season. The ongoing challenges in the hospitality industry, such as energy and food price increases and labor shortages, make it difficult to decouple from the broader economic downturn.
Source: www.dpa.com
