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Accommodation and hospitality to thrive again, competition is growing

Company: Amcham

Rising number of guests from abroad and domestically, rising prices and sales. The hotel and accommoadtion industry in the Czech Republic is prosperous and forgets the previous oppressive summer crisis and the loss of the Russian clientele.

According to experts, continuing rise in prices is a condition for its further successful development. However, it´s limited by the strong competition or online booking service. These are some of the findings of CSOB survey among small and medium-sized enterprises within the Index of companies´ expectations.

"The accommodation market is substantially affected by domestic and foreign demand. Half of the guests come from abroad, so it is important, what are the economic conditions of countries they come from. Marketing, hotel location, the reputation of Prague and the whole country play also the big role. The more visitors from economically strong countries will come, the bigger growth of prices can be possible. The prices´ growth can then stimulate new investments and the development of other services," said Peter Manda, Managing Director of Corporate Banking at ČSOB

Read more in the attachement.

Tags: Economics | Tourism |

AmCham Corporate Patrons



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