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World Luxury Expo to return to Riyadh
World Luxury Expo has confirmed it will be returning to the luxurious Ritz-Carlton Hotel, Riyadh from January 28th-30th 2014.
The highly anticipated three day event is titled sponsored by American Express and held in association with The Saudi Investment Bank.
HRH Princess Nouf Bint Faisal Bin Turki Al Saud, as chairperson of Nayyara Exhibitions, will again host the American Express World Luxury Expo in association with The Saudi Investment Bank.
The exhibition will showcase selected luxury brands and services, from a broad selection of luxury categories, appealing to a highly discerning and select group of VIP guests.
Nizar Abou Hassan, director premium products management, American Express Saudi Arabia, said: “Our promise to deliver service excellence and world class experiences are showcased in our renewed commitment to supporting the World Luxury Expo in 2014.
“The dedicated Cardmember’s access lane along with the American Express Salon Prive’ offering new and exclusive experiences to our Cardmembers and guests.
“We look forward to welcoming our local and international luxury brand partners who will be exhibiting a selection of their most prestigious and exclusive products in one spectacular venue.”
World Luxury Expo features carefully selected exhibitors from luxury categories including fine art, high-end jewellery, fashion, hand-crafted time pieces, designer furniture and exquisite table settings, fine dining, luxury executive cars and sports cars, private aviation and luxury travel.
All participating exhibitors are recognised within their respective fields, showcasing superior quality and craftsmanship.
A selection of other luxury goods and services which invited guests can look forward to viewing at World Luxury Expo include Ajmal Perfumes, Nayyara Weddings, Hamilton Grand luxury golf residences at the internationally famous St. Andrews golf course, Golden Caviar, antiques and collectors pieces by Asag Art, UBS, luxury accessories by BB Luxury, Kingdom Key Real Estate, organic premium skincare range by Alternatifs, a collection of supercars, and much more…
Those looking to attend AMEX World Luxury Expo in association with SAIB can request an invitation and pre-register online here.
Following the exposé in Riyadh, World Luxury Expo will continue to Jeddah in March and then Bahrain, Kuwait, Abu Dhabi and Doha in 2014, creating an on-going annual signature series of events in the GCC region. Source: Breaking Travel News
PKF: U.S. Hotels Poised To Resume Strong Growth
After a slight deceleration in growth during the last half of 2013, PKF Hospitality Research, LLC (PKF-HR) is forecasting very strong gains in revenues and profits for the U.S. lodging industry in 2014 and 2015. According to the recently released December 2013 edition of Hotel Horizons®, national revenue per available room (RevPAR) is projected to increase by 6.6 percent in 2014, followed by another 7.5 percent boost in 2015. Concurrently, hotel profits should enjoy growth of 12.8 percent and 14.5 percent respectively over the next two years.
“We are very encouraged by Moody’s outlook for the national economy in 2014”
“As anticipated, RevPAR growth slowed down a bit in 2013 compared to the previous three years,” said R. Mark Woodworth, president of PKF-HR. “Entering the year, we knew fears of falling off the fiscal cliff would create uncertainty in the minds of potential travelers. As the year progressed, the sequester and government shutdown caused additional angst. However, despite the challenging economic environment, we observed above average growth in lodging demand, average daily rates (ADR), RevPAR and profits.”
PKF-HR estimates that by year-end 2013, lodging demand will grow by 2.1 percent. This is greater than the projected 0.8 percent increase in supply, thus resulting in a 1.3 percent gain in occupancy. The 62.1 percent occupancy level estimated for the year surpasses the long-run average of 61.9 percent as reported by Smith Travel Research (STR).
“Our firm’s forecast for nominal ADR growth in 2013 is 3.9 percent. Given the fact that occupancy levels have finally eclipsed the long-run average, some hoteliers were expecting even greater rate growth. Clearly this is the one measure that was impacted most by the economic uncertainty that characterized 2013,” said Woodworth. “Industry participants need to temper their disappointment, though. As we have noted in the past, hotels have been achieving highly desirable, real ADR growth during this low inflationary environment. We also should note that evidence of greater future demand from meeting planners will lend tensile strength to revenue manager’s enhanced pricing power in 2014.” Source: Business Wire
Global Hotel Investment Sentiment Survey Shows Positive Trading Expectations for EMEA Hotels
Jones Lang LaSalle Hotels & Hospitality Group (JLL H&H) has released the results of their Global Hotel Investment Sentiment Survey and its good news for hotels in the EMEA region with trading expectations remaining positive both for the short term (six months) and medium term (two years) with investors feeling more confident than they did earlier this year.
Of the 31 cities tracked, 21 are expected to show growth in performance over the next six months, rising to 28 when looking to the medium term. Investor sentiment is highest for cities in Germany (Munich, Frankfurt and Hamburg) which continues to benefit from robust underlying market fundamentals, followed by London and Paris.
Capitalisation rate requirements are expected to remain relatively steady over the next six months, increasing marginally to 7.2% compared to 7.1% in April 2013 – reflecting an optimistic, yet cautious approach from investors.
Jon Hubbard, CEO Northern Europe at JLL H&H says: "We have already started to see rising interest from institutional investors keen to tap into the hotel market as they provide higher returns than alternative real estate options. Alongside this institutional interest, we continue to see HNWI and Sovereign Wealth Funds looking to acquire trophy assets in key cities throughout Europe."
"In terms of investors' target strategies for the next six months, nearly 50% of investors are primarily focusing on acquisitions, and are broadening their search to markets such as Dublin, Manchester and Barcelona. This acquisition focus has fallen 11.4% since the last survey, which is somewhat surprising but may reflect that with increased volumes transacted in 2013, some investors will be focused on managing assets acquired." Continued Hubbard. Source: Hospitality Net
