for one to several months may be attrac- tive for owners or landlords, but not for us as an operator. I also see no possibility to avoid the previously mentioned cost-inten- sive security measures like the creation of rescue routes. In contrast, we are very flexible when floor plans are involved. There is a market for small apartments for single travellers, while pairs are generally looking for somewhat larger units. An increasing number of fam- ilies have started to travel again after the corona pandemic, which is the reason we can’t only deal with small apartments. For our concept, there are no really unsuitable locations. Most travellers are very price sensitive and, when the offering is slightly more favourable, there is also enough demand at less attractive locations. The 70,000 tourists or business travellers who stay in Vienna every night can’t all stay in the city centre, near the railway stations or close to Schönbrunn Palace. And the people who find accommodations that are
20 per cent less expensive will be prepared to accept a bit more travelling time. In conclusion, I want to address the issue of legal security: Can someone who bases decisions on the current legal situation run into a case where legislators eliminate the foundation for their business – just like Airbnb renters started their operations in good faith and are now confronted with frustrated investments? Kraml: Did they really start up in good faith? Airbnb was always marginally acceptable in the residential sector, and the complete, permanent use of apart- ments for short-term rentals was never the original idea behind this concept. Besides, the situation for commercial short-term rentals is fundamentally different. This business moves solely within the intended classification category. In view of the considerations in government circles, for example to intervene in the free rental market, legal measures with
an expropriation character shouldn’t be completely ignored. However, with the necessary classification and permits, commercial rentals in the hospitality area are on sound legal footing.
Hospitality The hospitality business covers
hotels, serviced apartments, hostels, vacation apartments, gastronomy facilities and related products and services that focus on the temporary accommodation and care of guests. In the broader sense of the term, hospitality also includes concept solutions like co-living, aparthotels, boutique hospitality and hybrid forms that involve housing, tourism and business use.
People in conversation
Daniel Jelitzka
Birgit Kraml
Founder and owner JP Immobilien
Partner, Head of Real Estate DLA Piper Wien
Herwig M. Peham
Josef Vollmayr
Head of Investment EHL Investment Consulting
CEO limehome
Vienna | 2025
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