Hotel operators need to learn to manage the entire building they operate and start thinking of performance in terms of the total revenue or profit per available square meter, giving a more accurate assessment of the property’s success.
The number of hotel owners using third-party operators to run their properties looks set to increase across Europe, reflecting the desire for flexibility as well as a number of other benefits, according to a new report from global hotel consultancy HVS.
With over 20 years professional valuation experience, Stephen has a broad knowledge of international markets across the EMEA, Americas and Caribbean regions having worked out of head offices in the UK, New York, Abu Dhabi, Ireland and the Cayman Islands.
Shanghai Land Group acquired Hyatt on the Bund, Shanghai for RMB4.5 Billion.
Hotel values are not expected to make a full return to pre-pandemic levels until 2023-25 with some regions across the globe showing faster recovery than others.
Hotels have weathered the pandemic storm well with support from lenders, with a bounce-back of trade expected, although for some this may take three to four years to achieve.
Never miss a trend.