By Hala Matar Choufany - President for HVS Middle East, Africa & South Asia and Managing Partner of HVS Dubai
Dubai has a reputation for constantly reinventing itself to retain relevance in an evolving global travel industry. While the past 18 months have been plagued by COVID-19-related challenges, the pandemic has also provided Dubai’s tourism industry with numerous opportunities.
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The first nine months of 2021 have been a mixed bag for the Indian hotel sector, which is currently on the path to recovery thanks to the growing domestic leisure travel. During the nine-month period ending September 2021 (9M2021), the sector witnessed a 3-5% increase in RevPAR across India compared to the same period in 2020.
In light of the coronavirus (COVID-19) pandemic and the effect it has had on lending and new development in the hospitality industry, it may be beneficial to review the basics and walk through the investment life cycle of a hospitality asset.
The Indian aviation sector is finally flying high following a burst of encouraging news in recent weeks. Air passenger traffic is rising steadily, especially with the onset of the festive season and resumption of corporate travel, prompting the government to allow airlines to operate at full capacity.
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Each time the region is faced with a challenge, the market has proved its resiliency; however, the challenge presented by the COVID-19 pandemic is unlike any challenge faced before. While the impact has been significant, there are positive signs that a recovery is underway.
With Hala Matar Choufany - President for HVS Middle East, Africa & South Asia and Managing Partner of HVS Dubai
Hala Matar Choufany, President Middle East, Africa and South Asia at HVS is assessing values today and down the road in conversation with David Damiba, Managing Partner & Chief Investment Officer at Kasada Capital Management, Lourie Kruger, Head of Transactions Africa and Middle East at Westmont Hospitality Group and Jamie Odgers, Associate Director of Real Estate Banking Europe for the Middle East and Africa at Standard Chartered Bank.
The theme of the latest in the series of seminars hosted by HVS together with legal expert Bird & Bird, publishing group EP Business in Hospitality and restructuring advisory firm AlixPartners was resetting the hotel balance sheet to be fit for the recovery, and fittingly was the first in the series to be held as a hybrid event, with some 60 participants gathering in person in central London, while an international audience watched and asked questions over zoom.