2022 will be remembered for many reasons: war in Europe, political shake-ups in the UK and Italy, excessive load shedding in South Africa, the first winter World Cup, record inflation levels and a multiplicity of strikes across Europe. However, in amongst all this drama there have been some wonderful bright spots too: Morocco performed brilliantly in Qatar, the Middle East is diversifying and booming, and the UK came second in Eurovision.

All markets reviewed showed strong growth in KPIs and profit conversion, with the only negative metrix being a slight decline in occupancy in Doha (-14.2%). Standout stars included: Istanbul ADR increasing +138.9%;

Amsterdam occupancy increasing +163.3%; Rome GOPPAR increasing by more than +6,000%. Perhaps the brightest star was Paris Luxury segment, which returned to pre-C19 occupancy levels (whilst London Luxury remained significantly behind its normal levels).

Some slowdown in hotel development around Europe is not resulting in better contractor pricing, as cost pressures continue to bite, particularly with regard to energy prices and labour costs.

The transaction arena was quite busy in 2022, with many small deals in the UK, lots of deals in the Middle East, a plethora of corporate deals, a few resorts and strong activity in Spain and Portugal.

The brightest star was Paris Luxury segment, which returned to pre-C19 occupancy levels.

With grateful thanks to our contributing valuers, we are pleased to present our ninth consecutive annual Consensus Yield Matrix as our back page feature.

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.

Philip Camble
Director
+44 20 7195 1482
Whitebridge Hospitality

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