This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.
Investment TrendsItalian hotel transactions exceeded €800 million in H1 2024, involving over 30 properties and nearly 4,500 rooms. This marks a 90% increase compared to H1 2023, positioning Italy as the fourth largest European market by transaction volume for the first half of 2024, behind the United Kingdom, Spain, and France. Hotel investments were primarily driven by domestic and European investors, amounting to 85% of the volumes in H1.
Summer is heating up (or cooling down, depending on where you’re reading from) and with this time of the year comes one of the busiest times to travel. Looking at these trends can help us make sense of our behaviors, the influences of travel decision-making, and predict years to come.
Berlin, Germany’s largest city with a population exceeding 3.7 million, is a vibrant hub of culture, innovation and diversity. Renowned for its top universities, dynamic sports events, world-class museums and captivating arts scene, Berlin offers a rich tapestry of experiences. With residents of 190 different nationalities, Berlin embraces inclusivity and creativity, making it a truly cosmopolitan destination.
Transaction volumes in the UK hotel real estate market have significantly increased in the first half of 2024, reaching levels unseen since H1 2015. According to new data from Cushman & Wakefield, this revival saw around £3.9 billion transacted by hotel investors in the first half of the year. Fuelled by several major private equity portfolio deals, half-yearly investment saw a 210% upswing in activity versus the same period in 2023.
In the last 12 months, company insolvencies have increased in the hospitality sector more than in any other sector, according to the latest insolvency figures for England and Wales. In fact, the sector comprises 16% of all recorded company insolvencies in the same time period.
Portugal’s room stock is shifting towards the luxury segment as hotels are repositioned and new brands enter the market, according to Global Asset Solutions’s Portugal Hotel Market Outlook 2024.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has today forecast a significant recovery of Azerbaijan’s Travel & Tourism sector, with domestic tourism playing a pivotal role.
Thanks to a boost from the annual Spanish Grand Prix, Barcelona's monthly average daily rate (ADR) and revenue per available room (RevPAR) reached all-time highs, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Pushed by the 2024 UEFA European Football Championship, Cologne’s hotel industry recorded its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, according to June preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
With slightly over three weeks until the start of Paris 2024, SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, has analysed hotel arrivals during the Olympics period (26 July to August 11), and compared them to the same dates last year. The results are derived from SiteMinder's platform, which generates more than 120 million reservations annually, worth over US$50 billion in revenue for its more than 41,000 hotel customers.
Room Mate Hospitality & Leisure, S.L. (“Room Mate Hotels”), a leading lifestyle hotel brand and lease management company headquartered in Madrid, today announced the acquisition of Staying Valencia, a portfolio of boutique hotels and aparthotels in Valencia. This strategic acquisition marks a significant milestone in Room Mate Hotels’ expansion strategy, bolstered by the support of TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, and Westmont Hospitality (“Westmont”), which together acquired Room Mate Hotels in 2022.
Boosted by three large-scale events during the final weekend of June, Dublin hotel average daily rate (ADR) eclipsed EUR300 for just the second time this year and sixth time in history, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
The World Travel & Tourism Council (WTTC) today unveiled the remarkable growth of Travel & Tourism in France last year, with the sector’s GDP contribution surging by nearly 6% year-on-year to a record-breaking €246BN.
With one month until the start of the Summer Olympic Games, Paris hotel booking levels are nearing 80%, according to CoStar's latest Forward STAR data. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
PKF hospitality recently hosted 196+ roundtable live event in the following region: Germany.
In the first four months of 2024, full-service branded hotels in Barcelona recorded a healthy performance increase, underpinned by growing tourism demand and the regulation constraining hotel development.
The Set Collection proudly announces the addition of two exquisite properties solidifying its presence in Switzerland and marking a significant expansion of the Collection to encompass 20 luxurious hotels and private residences.
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) has revealed Türkiye’s Travel & Tourism sector broke all records last year, reaching new milestones across four key metrics.
Helped by a number of events, Berlin hotels saw improved performance in May, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.