For tourism-driven Austria, the hotel project pipeline is key to the economy [Infographic]
Due to its bucolic cities and wonderful natural vistas, Austria is one of the most popular countries in Europe to visit.
Austria has long had a strong economy, driven by industries such as metallurgical products, textiles, and machinery. In recent decades, the country has become well developed with a high standard of living closely tied to the other economies in the European Union. One industry, however, is more important than all the rest in Austria — tourism and hospitality.
Due to its bucolic cities and wonderful natural vistas, Austria is one of the most popular countries in Europe to visit, which puts it high on the list of most popular tourism destinations worldwide, and while it’s current hotel project pipeline is not nearly as large as global hospitality industry behemoths such as the United States, China and the United Kingdom, there are still some marquee properties that are very much worth knowing.
Before we get into the top projects currently in Austria’s hotel pipeline, however, let’s take a broad look at the country’s overall numbers. At present, there are 75 projects in development that once completed will yield about 9,148 rooms. The projects are, of course, most heavily concentrated in the country’s largest and most famous city, Vienna, which will be host to 16 new hotels. Other Austrian markets with multiple projects in the pipeline include Salzburg, Linz and Graz. Austria’s project pipeline also skews long-term, with only 32 of its projects slated to be completed in 2020 or later, while 17 are set for 2019, 19 for 2018, and 7 for the waning months of 2017.
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