Capital still flowing into luxury hotels

Luxury segment in key gateway cities attracts investment

Speakers on a panel at Deloitte’s recent European Hotel Investment Conference say that despite the fears of a second global recession money is still flowing into the luxury segment. “It has just become more discreet,” says Liam Lambert, COO of Corinthia Hotels & Resorts. The performance of luxury hotels in gateway cities such as New York, London, Paris, Hong Kong and Shanghai, where average rates have risen in recent years, has been especially encouraging. Money from China and Asia is being invested in Europe in this regard.
The reason for the growth? “There’s a very sophisticated consumer. People still desire that experience,” says Roy Paul, chief development officer at Orient-Express Hotels Limited.
However, new development activity in the luxury segment is limited. And there are certain cities for developers to avoid due to over-capacity in the segment, such as Prague, St Petersburg and Budapest.
HotelNewsNow
[pictured: InterContinental Paris – Le Grand; courtesy IHG]

x

Check Also

Wizz Air, outlook, Ryanair, 2019, low-cost, airline, finance, profit, costs, A321, aircraft, type, Airbus, fleet, oil price, fuel, staff, unit costs

Wizz Air outlook “very positive”, unlike Ryanair

An increasingly high-cost environment is provoking differing views from Europe’s low-cost carriers about the coming year.

drone, terrorism, chance, aircraft, plane, attack, Isis, fighters, Europe, warning, IHS, Janes

Terrorists could use drones to attack planes

Drone incidents can occur anywhere up to 4,000 metres, and an expert warns that a deliberate attack is increasingly likely.

World Animal Protection, travel, Bali, Lombok, Indonesia, wild animals, captive, selfie, cruel, attractions, tourism, orangutans, elephants, tigers, dolphins, civet

Animal protection body exposes “Bali horror”

World Animal Protection says that wildlife tourist attractions in Bali and Lombok are “living hell for animals”.

Vietnam, tourism, overtourism, hotels, supply, oversupply, development, sustainable, Halong Bay, Danang, Phu Quoc

Hotel investors warn Vietnam about “crazy” growth

With a 43% rise in room keys, there are fears for the future in places like Halong Bay, Danang and Phu Quoc.

London Luton Airport, Vueling, Unite, union, strike, baggage, bank holiday, dates, times, May, London, flights, delay, easyJet, Jet2

Last-minute chance to avoid London airport strike

Baggage handlers at London Luton are planning to walk out this coming bank holiday weekend, with other strikes possible too.

Russia, algorithm, World Cup, restaurants, reviews, Tripadvisor, fake, tourism

Fake TripAdvisor reviews ahead of World Cup

“What can you do if no Serbs and no Swedes have ever been to your venue and left a review?”