Turnover in hotel and restaurant industry down by 2.5% in 2008

According to the Federal Statistical Office, turnover generated in the German hotel and restaurant industry was up by 0.1% (in nominal terms) and down by 2.5% in real terms in the year 2008 as compared to the previous year. In comparison with December 2007, turnover decreased by 3.7% and 6.2% respectively in December last year. Turnover was down by 1.2% and 1.6% respectively on the previous month, November 2008.

In the hotel industry turnover fell in both nominal and real terms by 4.4% and 7.2% respectively in December 2008 as compared to the same month in 2007 as well as in the restaurant industry (-3.9% and -6.2% respectively). For canteens and caterers the respective figures were +0.4% (in nominal terms) and -2.4% (in real terms). GERMAN