The paid use of resources in connection with accommodation in hotels, motels, guesthouses, vacation homes and other commercially operated accommodation, including the use of corresponding offers from farms, sports facilities, riding clubs and similar facilities. Demand in this market is not only seasonally fluctuating but also cyclically sensitive. It is therefore monitored by central banks. – See two-pillar principle. – Cf. Deutsche Bundesbank Monthly Report of April 2013, p. 7 (Statistical; Prices in Germany since 2009).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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