Croatia hotel investment on track to reach €1.2B by 2022 - total-croatia-news.com
Investment in Croatia's hotel industry is predicted to reach €1.2 billion by 2022, according to reportfrom Ernst & Young.
Reports
Japan’s Tourism To Receive Substantial Investments | tourism-review.com
Tourism is growing fast in Japan. In 2017, the number of arrivals increased by 19.3% compared to the year before to a record 28.69 million. However, the problem is that the country has only few hotels to accommodate so many tourists. The shortage is forecasted to continue at least until 2020.
U.S. Hotel Development Cost Survey 2016/17
Hotel development activity correlates directly with the ebbs and flows of hotel-sector performance. As we reached the peak of the current cycle in 2016, developers pursued hotel construction and redevelopment at a pace we haven't seen since 2006 and 2007. HVS has tracked Hotel Development Costs for the last three decades, collecting data from actual hotel cost budgets during our assignments. This year's sample reflects the largest sample HVS has analyzed given the number of hotels in the pipeline, as well as our growing presence in 35 U.S. markets. The data in this survey reflect budgets from 2016. With the availability of more data, we elected to add a lifestyle/soft-brand category and a dual-branded category; moreover, we bifurcated the extended-stay hotel category into midscale and upscale segments. These products represent some the fastest-growing sectors. Thus, our data now reflect nine product categories. The brands represented in each of our categories (in our survey data) can be found in the addenda to this study. In the last year since the 2015/16 study was released, the most common question posed to our authors addressed the delineation of geographic data by segment. While we can sort the data for smaller samples in specific markets, we are unable to provide meaningful conclusions because of the limitations in the data set. However, the analysis and inclusion of both the median and the mean help to balance the high- and low-cost markets. Our goal in sharing this publication is to provide a basis for developers and consultants in evaluating their hotel development projects. This report should not be relied upon to determine the cost for actual hotel projects or for valuation purposes, but rather, it is intended to provide support for preliminary estimates or support for actual cost estimates, as well as to show a comparison across the categories. Please continue to reach out to us with your comments and questions, as this feedback helps improve our annual survey.
By Stacey Nadolny, HVS Managing Director and Senior Partner, HVS
Key Takeaways: 2017 NYU International Hospitality Industry Investment Conference
Manhattan's Marriott Marquis once again welcomed the most prominent leaders in the hospitality industry for the 2017 NYU International Hospitality Industry Investment Conference, held June 5 and 6. Over the two-day event, industry experts gathered to share their opinions on a wide variety of ownership, management, branding, lending, and economic topics. Despite uncertainties in today's global political and economic climates, the overall tone remains one of cautious optimism.
By Chris Fernandes, Senior Project Manager at HVS New York, HVS
Meet the Money 2017 Key Takeaways
The 2017 Meet the Money National Hotel Finance & Investment Conference, held May 8–10 in Los Angeles, brought together a strong showing of hotel owners, investors, lenders, brokers, consultants, franchisors, and brand representatives. Top U.S. hospitality executives served on panel discussions that addressed an array of topics related to hotel ownership, development, and financing, as well as the recent proliferation of new hotel brands and the impact of the global economy on the industry. True to this year's theme, "Opportunity or Peril: Finding the Right Key to the Right Door," a sense of cautious optimism echoed throughout the conference, supported by reports of continued hotel performance improvements in markets nationwide, balanced by the potential effects of the supply pipeline and global markets in the next 12 to 18 months.
By Aaron Solaimani and Benjamin Levin
BNP Paribas Real Estate | European Hotel Market Update | March 2011
Hotel investment activity reached a floor in 2009. The recovery observed in 2010 should go on in 2011 with a number of themes expected: operators’ sale and leaseback (asset-light) strategy will continue, more distressed assets are likely to come onto the market, the bid-ask price gap will reduce and hotel operating performances will follow the upward trend established in 2010.
HVS EMEA Hospitality Newsletter – Week Ending 4 March 2011
Sarova Hotels recently took a trip down the River Thames to the town of Windsor, south England. Once there, it rescued the Sir Christopher Wren's House Hotel from administration for an undisclosed sum, bringing its portfolio of hotels in the UK up to four. The 95-room hotel, which has a royally good location nestled beneath the ramparts of Windsor Castle, was thought to have been the family home of famous British architect Sir Christopher Wren. The Grade II-listed building first opened as a hotel in 1920 and it has changed hands many times since. The previous owner, Croatian hotelier Goran Strok, bought the hotel in 1996 and undertook a £4 million refurbishment programme. It is reported that Sarova also now intends to invest in the property.
2010 European Hotel Transactions | Total European transaction volume reached approximately €6.5 billion in 2010
Total European hotel transaction volume reached approximately €6.5 billion in 2010, an increase of almost 110% on the lowly level of €3.1 billion in 2009. Whilst this figure indicates a very welcome increase in activity, total volume remains well below the 2006 peak of €20 billion and the ten-year average since 2001 of €10 billion. The total figure for 2010 was bolstered by several major transactions, such as Grosvenor House on the single asset side and Pandox's acquisition of the Norgani group. The underlying trend in the European investment market remains one of low activity caused by few properties being offered for sale, by banks or otherwise, and the continuing reluctance of banks to provide new loans.
Lodging Econometrics 2011 Latin America Lodging Outlook Report
The resurgence of lodging construction in South America is gathering speed, having bounced back faster than most other regions of the world. Rapid government intervention, including broad stimulus programs, lower interest rates and investment incentives, minimized the impact of the global recession and banking crisis. Escalating international demand for natural resources exported by these countries is further bolstering their economies, with several to see vigorous GDP growth through 2014. The lodging industry has rebounded impressively as well. Occupancy has nearly recovered to pre-recession highs, while average room rates and RevPAR have surpassed those levels. As a result, developer and global brand sentiment is avidly enthusiastic, and the Construction Pipeline in South America is flourishing.
U.S. Investors’ Intention to Buy Assets at Five-Year High | Jones Lang LaSalle Hotels Survey
Jones Lang LaSalle Hotels today released its bi-annual Hotel Investor Sentiment Survey, which reveals that an increased 52 percent of investors indicated a dominant ‘buy’ strategy over the next six months. Concurrently, respondents exhibited a 13 percent decrease in ‘hold’ intentions—a shift that signals that transaction velocity will increase in 2011. The firm’s proprietary survey is directed toward the world’s 6,000+ leading hotel investors and owners.
Hotel Survival Strategies Start with Minimizing Vulnerability
The bevy of hotel investors who purchased assets at the peak of the market with the intent of repositioning are now the most vulnerable in today’s economy. This “repositioning” segment of the market is in survival mode, yet creative owners are employing new survival strategies to combat challenges.
Huge Pipeline Imbalance Presents Great Opportunities in Russia | Horwath HTL Reports
Horwath HTL, the world’s largest hotel consulting network, hosted a plenary session on pipeline and development at the fourth Russia and CIS Hotel Investment Conference today, held at the Renaissance Moscow Monarch Centre Hotel. Michael O’Hare, Managing Director of Horwath HTL Russia and a leading industry expert in the region, led the session and was joined by senior developers from Hilton, Hyatt, IHG and Starwood Hotels and Resorts.
STR Global: C./S. America pipeline Sept. 2010
“The Central/South America pipeline is dominated by projects in Brazil”, said Elizabeth Randall, managing director of STR Global. “But while the country’s 60-hotel pipeline tops development in the region, Brazil still lags behind its BRIC counterparts of China (416 projects), India (283 projects) and Russia (77 projects). We, however, expect the pipeline to become stronger due to the upcoming global events of the FIFA World Cup 2014 and the Olympic Games in 2016”.
STR: Caribbean/Mexico pipeline for Sept. 2010
Among the countries in the region, Mexico reported the largest number of rooms in the total active pipeline with 11,121 rooms, including 5,222 rooms in the In Construction phase. Two other counties ended the month with more than 1,000 rooms in the total active pipeline: the Dominican Republic (1,963 rooms) and Puerto Rico (1,210 rooms).
STR reports Canadian hotel pipeline for September 2010
“The Canadian hotel development pipeline’s rooms under construction has decreased by 11.6 percent versus September 2009,” said Lana Yoshii, VP of content management at STR. “With only a 1.1-percent increase in supply during this period, new development has had sluggish growth. There are no rooms in the active pipeline phases (In Construction, Final Planning and Planning) for the Upper Upscale chain scale. The Upscale chain scale is reporting the most number of rooms currently In Construction (1,973 rooms).”
STR reports US hotel pipeline for September 2010
The total active U.S. hotel development pipeline comprises 3,362 projects totaling 352,356 rooms, according to the September 2010 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 21.9-percent decrease in the number of rooms in the total active pipeline compared to September 2009. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.
STR: US hotel pipeline for July 2010
The total active U.S. hotel development pipeline comprises 3,412 projects totaling 359,264 rooms, according to the July 2010 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 26.4-percent decrease in the number of rooms in the total active pipeline compared to July 2009. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.
India Hotel Valuation Index (HVI) 2010
The HVI is a valuation benchmark developed by HVS. It presents historical, and for the first time in India, future value trends for 11 major markets in India. The HVI aims to answer the question of what a hotel is worth in these cities.
STR: Canada hotel results for week ending 27 March
The Canadian hotel industry reported increases in all three key performance measurements during the week of 21-27 March 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy increased 3.1 percent to 59.2 percent. Average daily rate ended the week virtually flat with a 0.2-percent increase to CAD$120.75. Revenue per available room for the week went up 3.2 percent to CAD$71.46.
European hotel real estate: A long slow haul back | PwC Reports
Europe’s real estate industry is cautiously picking itself up and surveying the road ahead. However, in this year’s Emerging Trends in Real Estate Europe survey hotels dropped from second place last year to twelfth place in 2010, to sit firmly at the bottom of the table. This article highlights the key issues.