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Navigating CEE with HOTCO 2024
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HOTCO stands amongst the top hotel investment conferences in the CEE and beyond, convening investors, developers, and industry experts on Jan 29-30, 2024, to explore trends and discuss hotel deals.
In the face of economic challenges, CEE hotel companies defy sentiments, actively pursuing deals and showcasing resilience through a surge in new developments. An illustrative instance is Romania's Pavăl Holding collaborating with Lithuania's Apex Alliance to acquire the Italian Grand Hotel Gardone. Meanwhile, Forty Management progresses with the Central District Lagoon City hotel complex in Bucharest, with upcoming plans for Budapest and Prague. Notably, luxury brands such as Mandarin Oriental and St Regis are set to broaden their footprint in the region.
Forty Management is advancing with the construction of its Central District Lagoon City hotel complex in Bucharest, with future plans for Budapest and Prague. However, amidst these regional strides, there's a simultaneous rise in comprehensive development costs, including construction, investment, and operating expenses, notably in human resources and energy. Securing financing, marked by difficulty and high interest rates, poses a significant obstacle, potentially impeding broader expansion and ambitious projects. This adds an extra layer of challenge to formulating effective solutions for sustaining profitability and impacting the overall success of development ventures.
The hotel industry is witnessing a shift from non-branded to branded establishments. In Europe, about 40Prozent of hotels are branded, compared to 70Prozent in the United States, reflecting a growing customer preference for branded accommodations. The industry's future is tilting towards sustainability, with institutional funds favouring properties holding green certifications. However, clarity on ESG standards remains a challenge for stakeholders.
Amidst these significant changes and formidable challenges, HOTCO 2024 emerges as a beacon of guidance. Scheduled to take place in Vienna on January 29th, 2024, at Andaz Am Belvedere – a concept by Hyatt, this event promises captivating site inspections of Vienna's newest hotels and a networking welcome reception. Subsequently, on January 30th, panel discussions, keynotes, and insightful presentations will take center stage, attracting savvy investors from over 30 countries.
In the face of economic challenges, CEE hotel companies defy sentiments, actively pursuing deals and showcasing resilience through a surge in new developments. An illustrative instance is Romania's Pavăl Holding collaborating with Lithuania's Apex Alliance to acquire the Italian Grand Hotel Gardone. Meanwhile, Forty Management progresses with the Central District Lagoon City hotel complex in Bucharest, with upcoming plans for Budapest and Prague. Notably, luxury brands such as Mandarin Oriental and St Regis are set to broaden their footprint in the region.
Forty Management is advancing with the construction of its Central District Lagoon City hotel complex in Bucharest, with future plans for Budapest and Prague. However, amidst these regional strides, there's a simultaneous rise in comprehensive development costs, including construction, investment, and operating expenses, notably in human resources and energy. Securing financing, marked by difficulty and high interest rates, poses a significant obstacle, potentially impeding broader expansion and ambitious projects. This adds an extra layer of challenge to formulating effective solutions for sustaining profitability and impacting the overall success of development ventures.
The hotel industry is witnessing a shift from non-branded to branded establishments. In Europe, about 40Prozent of hotels are branded, compared to 70Prozent in the United States, reflecting a growing customer preference for branded accommodations. The industry's future is tilting towards sustainability, with institutional funds favouring properties holding green certifications. However, clarity on ESG standards remains a challenge for stakeholders.
Amidst these significant changes and formidable challenges, HOTCO 2024 emerges as a beacon of guidance. Scheduled to take place in Vienna on January 29th, 2024, at Andaz Am Belvedere – a concept by Hyatt, this event promises captivating site inspections of Vienna's newest hotels and a networking welcome reception. Subsequently, on January 30th, panel discussions, keynotes, and insightful presentations will take center stage, attracting savvy investors from over 30 countries.
H
AutorHOTCO
Tags
Hotel
Development
Hotels
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