Industry Update
Press Release18 May 2020

Whitebridge LAC Hotels Monitor, Issue 9

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Whitebridge Hospitality

For the first time in this series for the LAC region, we have amended the reporting period for the performance statistics, and all because the data does not love COVID-19. The shock of the global pandemic has been without parallel, both in its extensive bear-hug around the globe and in its impact across all sectors of the global economy - and none more so than on our beloved hotel sector. Performance levels have been devastated in 2020 and so the data for this edition is a comparison of the full year 2019 versus 2018.

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As at the time of publication, the effects of COVID-19 on development costs around the region were only just beginning to be understood, with significant volatility expected in the coming months as projects are delayed and productivity slows due to social distancing.

The region had another quiet 12 months in terms of transactions, with the highlights being Marriott's acquisition of Elegant Hotels (based in Barbados and comprising seven hotels) and Gencom's buying spree of two high profile resorts across the region. Where changes of ownership may have been rare, development and refurbishment have been much more commonplace, with a large number of projects underway and opening in 2019/20.

Performance levels have been devastated in 2020.

For our final page feature, STR has shared some hot-off-the-press data on the impact of Covid-19 on markets around Latin America, and highlights positive signs of recovery already underway in China, giving the rest of the world hope for the future and light at the end of the pandemic tunnel.

About WhiteBridge Hospitality

Whitebridge Hospitality is a specialist advisor to investors, developers and operators in the hospitality industry around the globe. We provide investment, operational and planning advice, and guidance in respect of the entire hospitality spectrum, including: hotels, mixed-use developments, conference and exhibition centres, spas, leisure facilities, casinos, visitor attractions and sporting venues. Our uniquely qualified team can provide services throughout an asset's life cycle, from site selection and acquisition, through master planning and feasibility studies, to operator selection, operational and asset strategy advice, to sale and agency services.

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Philip Camble
Director
Phone: +44 20 7195 1482
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