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NEWS| Annual turnover of German hotels is 16.59 bn Euros

The totaled 38,890 companies of the German hotel industry stand for an annual turnover of 16.59 bn Euros in 2008 (+0.5% to 2007)

The planned VAT reduce from 19% to 7% for overnight stays amounts a tax cutting of approximately 1 bn Euros. F&B services will be charged by 19% VAT furthermore. In German hotels, the annual turnover with food and beverages is 6.11 bn Euro in 2008 (-0,05% to 2007). The turnover of restaurant and bars (47.28 bn Euros) will be charged with the full VAT (19%) furthermore, too.

(Source: CHD Expert Germany - Destatis)


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