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For 2022, international real estate consultancy firm Cushman & Wakefield (C&W) recorded a total hotel transaction volume of EUR 1.9 billion in Germany. This is 25 percent below the previous year s figure and falls almost 60 percent short of the 10-year average. The year was again characterised by single-property transactions, contributing approximately 85 percent of transaction volume. Only four portfolio transactions were recorded. The average transaction size was EUR 29 million.