3rd "Spotlight Hotel Investment Poland": Hotel industry still in demand
Warsaw (July 22, 2016). The third conference "Spotlight Hotel Poland" in June in Warsaw showed that especially Poland is intensely discussing its market opportunities and is therefore clearly balancing opportunities and risks. Meanwhile more international investors and operators feel attracted by the country with a stable economic framework and a continuously increasing demand. Poland remains the driver in the CEE region.
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Driven by success, shaken by terror
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Within the space of six years, from 12 hotels and 560 rooms to 84 hotels with 8,000 rooms. The German company Novum Group Hotels managed precisely this huge leap. CEO David Etmenan today explains how the family company did this, both from an organisational as well as financial standpoint. Novum now wants to push forward in an even more targeted way and even more quickly with large institutional partners and international franchisors at its side. The group is now on the way to the Top 3 in the German hotel sector.
The Chinese New Century Group has also discovered Germany as a base for expansion. The privately-operated company with over 200 hotels and 50,000 rooms has now opened its first hotel outside China - in Offenbach near Frankfurt. A tasteful hotel, as Susanne Stauss reports. At the fringe of its official opening celebrations, she had the opportunity to ask founder Miaolin Chen a few questions. And what does he want? To continue to grow, also in Europe.
Because supply and demand continue to grow, the Polish market continues to attract more international investors, and of course operators too. The (self) critical Polish are learning fast and are now also beginning to consider what makes sense and what may cost how much. A positive development, in my view. The 3rd "Sportlight Hotel Investment Poland" conference provided material for another summary article today as well as a more data-heavy market snapshot, published this week by Christie & Co.
And in the news this week: The emirate Ras Al Khaimah is currently touring its source markets in order to promote its tourism strategy. The Chinese continue to spend a lot of money on travel. And in Austria, the government faces making substantial payments to hotels after a ECJ judgement. Booking.com, Expedia and HRS dominate hotel distribution - nothing new here, but recent Hotrec figures are shocking.
In Nice, the recent terror attack has caused a crisis for local hotels - we have the first drastic figures. The season is over already, some believe.
The coup in Turkey last week followed by the extension of the state of emergency yesterday prompted me to contact a number of hotel experts in Istanbul. The situation is currently extremely chaotic. Only one thing is clear: tourism is suffering everywhere, and will continue to do so for a not-foreseeable future, and will presumably hit the smaller family-run suppliers first. Since the situation at present is dominated more by emotion than facts, and on account of speculation, I have decided to postpone a report on Turkey for the moment. – The full editorial…