The oldest bordello in Hamburg's red-light district is shutting down for lack of business, according to newspaper reports published Friday.

The family-run Hotel Luxor, established in 1948, is being sold to an investor and will close down for good next month, madam Waltraud Mehrer said, according to the Hamburg Morgenpost and Bild newspapers.

She blamed the decline in business on easily available Internet porn, the rise of call-girl services, and "noisy discos and dance clubs" on the same street as her business, the newspapers reported.

"You can't make any big money selling sex in St. Pauli any more," she was quoted as saying, referring to the area that includes the red-light district. "The only thing still in operation are the table dance clubs."

The club's heyday was in the 1970s, when it was open 7 days a week, with 12 prostitutes on hand.

"Our customers were well off, they didn't scrimp," she said. "That's also changed today."

Hotel Luxor today employs four prostitutes, and is only open Tuesday through Friday nights.

"Two thousand euros [$3,080] per night — it was like that once," one of the women, who gave her name only as "Nicole," told the Morgenpost. "Now I can only dream of that. I've been here a year and only earn around 200 [$308] per shift."