Opinion Articles
Ad hoc mandates “mandat ad hoc“ for expediating discussions with creditors in France
The French ad hoc mandate is a confidential procedure for the out-of-court settlement of disputes Its aim is to remedy a company’s financial situation before it is declared insolvent. The merits of ad hoc mandates , subject to the article L 611-3 of the French Commercial Code , are well established since these legal mechanisms have proved their worth in preventing and dealing with business difficulties.
The Mille Club: Investing at the Half-Mille Mark
We have written several articles regarding hotels that are part of what we call ‘The Mille Club’. Mille, translating to thousand, identifies those properties that have seen their typical ADR move above the thousand (dollar, Euro, pound, CHF) rate.
Setting up for success: what UK hotels can do to eclipse their competition
Competition amongst hotels in the UK is higher than anywhere else in Europe, with nearly half of all hotel construction occurring in the UK1. With the sector more competitive than ever, hotel owners need to be mindful of how they can stand out from the crowd and develop their hotels to meet the rapidly evolving demands of their guests.
The Mille Club: Details, Details, Details
In this installment of the Mille Club column, we are going to address some of the little things that differentiate your property. To recap, membership qualification for the Mille Club is simple: offer rates of more than a thousand (hence ‘mille’) dollars, pounds, Euros or equivalent. If you’re already there (or very close), or aspire to this lofty room rate level, you’re in!
Tourism in Switzerland: A successful summer 2023 for the Industry
The latest figures released by the Federal Statistical Office (FSO) have put even more spring in Swiss tourism’s step. Night stays in Switzerland for the months of June and July 2023 were recently published. And the news is good! Night stays (or hotel stays) were 8.6% higher in June 2023 versus June 2023. This confirms an earlier report indicating that in the first half of 2023, night stays increased 13.8% year on year.
The Mille Club: The Often-Forgotten Sense of Departure
For those who haven’t read the first few editions of this Mille Club series, membership qualification is simple: offer rates of more than a thousand (hence ‘mille’) dollars, pounds, Euros or equivalent. If you’re already there (or very close), or aspire to this lofty room rate level, please read on.
Hotel management agreements offer flexibility for hotel investment in France
Under the influence of international operators, hotel management methods in France and Europe have evolved, with management agreements increasingly being favoured over leases. The profile of hospitality investors has also changed, with highly professional funds able to adopt this type of management solution.
The Mille Club: The Upside of Crossing Four Digits in Rate
Sometimes when explaining a concept, it’s best to look at the numbers. Before going straight into using hotel rates, we’re going to start small with a bottle of run-of-the-mill wine, a product that’s also dear to our hearts and many other hoteliers.
Going lean – how hospitality can overcome the challenges of food price inflation and record energy bills
Hospitality has been a driving force for the UK and European economies for years, employing 3.2 million people before the pandemic and generating £38 billion in tax revenue for the UK government. Providing job opportunities for young people and students and inspiring young entrepreneurs to launch enterprises of their own, hospitality was a dynamic and booming sector before the initial complications of COVID, and the many challenges that followed.
Amsterdam-Based Booking.com Delivers €3.6 Billion Net Contribution to Dutch Economy
Booking.com creates a large positive impact in the Netherlands. This is the finding of a new study by consultancy KPMG based on its True Value methodology. This research project provides a holistic assessment of Booking.com’s economic, social and environmental impact in the Netherlands.
Birmingham Hotel Market: Setting Up to Knock It Out of the Park
The Magic City, so named because its soil contains the three elements needed to produce iron, was able to steel itself against long-term hospitality demand loss in 2020 better than many hotel markets across the U.S. The city’s proximity to outdoor demand generators, its rapidly growing sports entertainment industry, and the dedicated work of local municipal offices and aid organizations were all important factors that supported the swift recovery of Birmingham hotels.
The Mille Club: Your Sense of Arrival is Critical
For those who haven’t read the first two editions of this Mille Club series, membership qualification is simple: just offer rates of more than a thousand (hence ‘mille’) dollars, pounds, Euros or equivalent. Whereas American Express since 1987 espoused the selling line, “Membership has its Privileges™,” the opposite applies to your property if it wants to uphold four-figure nightly rates. Aptly expressed, as a member of the Mille Club, “Membership has its Responsibilities.”
Why the UK hotel sector is a mix of thrivers, survivors, and decliners
With much of a challenging Q1 behind us it feels to be an appropriate time to take stock and look forward to the rest of 2023. Hopefully, there is only a positive trajectory for hotel transaction market for the year ahead with the consensus being that H2 2023 will see more activity across the real estate market. With several factors at play, some new and some old, it will be interesting to see whether these expectations are indeed fulfilled...
Hospitality markets in 2023: what to expect?
The hospitality industry experienced many highs and lows across 2022 and as a sector, faced challenges including recovery from the pandemic, the impact of Russia’s invasion on Ukraine and the ongoing cost-of-living and energy crisis, the instability of government on the economy and rising interest rates. The sector has tried to remain resilient, in the knowledge some of these obstacles are continuing this year and will shape the outlook of the market as we progress further into 2023.
Welcome to the Mille Club: Across the Entire Guest Journey
We’re seeing a trend in post-pandemic luxury – the mantle of attaining then surpassing a thousand dollars per night per room. This is what we have dubbed the ‘Mille Club’ after the Italian for said four-digit number. If your average daily rate has pushed into the four-figure range or thereabouts, congratulations and welcome. But know that this is something that must be earned because of the psychology that comes with paying above this threshold and because luxury guests have plenty of options nowadays.
ESG, going from pioneer to leader: a headache for the French
Commitment to a policy of corporate social responsibility no longer makes a company special. Especially when the entire world has become aware that we cannot simply act without taking heed of the impact of our actions on the planet and its inhabitants. In terms of CSR, the law that is already imposed on large companies will eventually come to bear on all economic players.
A tribute to Gérard Pélisson, co-founder of Accor
It is with great sadness that we announce the passing of Accor co-founder, Gérard Pélisson, who died on Monday, March 6, 2023, at the age of 91, surrounded by his loved ones.
Welcome to the Mille Club: Four Figure Luxury
Over the past year, we’ve bolted out from the gates in the aftermath of the pandemic, staying at multiple properties with daily rates in excess of 1,000 dollars, euros or pounds as part of our consultancy work auditing luxury hotels to improve their topline performance. The fact is that any four-figure guest daily hit propels your property into a new snack bracket, and one that plays by a slightly different set of service and amenity requirements. There’s prestige, but much, much higher expectations that you must surpass each and every day.
Will 2023 be the time to ‘check in’ to UK hotels?
I think most of us in the UK hotel investment market will look back to early 2022 and recall positive sentiment for the year ahead and a sense of light at the end of the tunnel. In reality, the year brought in a number of headwinds for the sector; but with 2023 ahead of us could there be a glimmer of change on the horizon?