A process for the catalytic hydrogenation of carbonyl compounds over a catalyst comprising rhenium on activated carbon, wherein the catalyst used comprises rhenium (calculated as metal) in a weight ratio to the activated carbon of from 0.0001 to 0.5, platinum (calculated as metal) in a weight ratio to the activated carbon of from 0.0001 to 0.5 and, if appropriate, at least one farther metal selected from among Zn) Cu, Ag, Au, Ni, Fe, Ru, Mn, Cr, Mo, W and V in a weight ratio to the activated carbon of from 0 to 0.25, for preparing alcohols, in which case the activated carbon has been nonoxidatively pretreated, or for preparing ethers and lactones, in which case the starting substances are carboxylic acids, esters or anhydrides thereof, lactones or mixtures thereof, the hydrogenation is carried out at a hydrogen pressure of not more than 25 bar and the activated carbon may have been nonoxidatively pretreated.