Originally Posted by vienna-resident
At a room rate of <200 Euro/night for a 5* hotel, they couldn't even cover their costs any more. After the wall came down, with the new economy bubble blowing up, all the hotel chains expected Berlin to be the big market for the future... We know what happend then....
As as hotel developments take about 5 years from conception to opening, there where suddenly 12.000 5* rooms and not enough guests any more...
Just booked a Deluxe Club room at E360 pn, so their rates seem pretty comparable to the rest of Germany but still reasonable.