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The good old business model: Keep your feet on the ground

Maria Pütz-Willems
Maria Pütz-Willems

Dear Insider,

Today, I’m making a case for conservatism. At a time when statistics for the German hotel industry show that it has the highest number of insolvencies in the economy, it was refreshing to speak to Yoram Biton of Leonardo Hotels. "Making a profit these days isn't easy at all," he notes soberly. "It's hard work." That’s why Leonardo is growing only gradually; franchising costs too much money and only the rent cover counts. This operator’s business model is ‘stay grounded and disciplined’. Yoram reviews the P&L with each area manager every month.

Some investors lack one of these qualities. This week, Deka Immobilien announced the new operator for the W Amsterdam: Corendon. The company is based in Turkey, has a background in tourism, and is now running its first luxury lifestyle hotel. But without the restaurants. Liran Wizmann will be allowed to continue running these. It’s all set out in the contract, but of course it’s confidential. So the former operator, who owes Deka Immobilien €23 million in rent, will remain a business partner? In any case, a lack of transparency in communication raises even more questions. My eight questions (inter alia, how Deka Immobilien will guarantee its investors that it will regularly receive rent) was dismissed with four sentences. Don't investors have any questions at all? ... More

Magazine

The "down-to-earth" business model

HI+The "down-to-earth" business model

MD Director Yoram Biton on the operational discipline at Leonardo Hotels

Leonardo Hotels are expanding but doing so cautiously. Financially, the Fattal Group subsidiary is stable. It is a conservative operator, and that is how it is to stay. Operations must be in good health. It's the rent cover that counts. A franchise just costs money. Managing Director Yoram Biton on the "down-to-earth" business model.

The next windfall for Paris

HI+The next windfall for Paris

Mega-concerts by BTS and Céline Dion are pouring billions into the coffers

Korean K-pop group BTS sells out the Stade de France in minutes. Nine million people enter a lottery for 16 Céline Dion nights. Together, the two events could inject up to 1.2 billion euros into Paris' economy. Yet most hotels have not adjusted their rates. Marriott secured the partnership with Céline Dion, not Accor.

A very bold plan

HI+A very bold plan

Whitbread sells branded restaurants and Premier Inn hotels – A strategic shift

Along with the results for the 2026 fiscal year, which Whitbread presented a week ago, the company also announced a new five-year plan. It surprised everyone with new, extremely challenging cost-cutting measures and divestment announcements. The portfolio of owned hotels is shrinking, branded restaurants are off the table, and hotel restaurants are getting a makeover. The board is fully focused on speed and returns.

Dubai is not a destination, it's a business!

HI+Dubai is not a destination, it's a business!

The sparkling city is empty now, but everyone swears by its comeback

Two months ago, hotel executives in Dubai were talking about a golden era. New Year's Eve occupancy reached 94%. RevPAR crossed €500 for the first time. Then February 28 happened. Within 72 hours, lobbies emptied, Dubai International Airport shut down, restaurants went dark. One of the most confident hospitality markets on Earth entered survival mode. Sarah Douag visited Dubai last week.

HI+

W Amsterdam: The cat-and-mouse game continues

W Amsterdam: The cat-and-mouse game continues
8.5.2026

Deka Immobilien no longer wishes to discuss the 23 million euros in rent arrears owed by the (former) operator, Sircle Group – headed by Liran Wizman. This week, it introduced an unnamed, tourism-focused operator from Turkey. Wizman is nevertheless permitted to continue running the W restaurants. Deka Immobilien did not provide any explanation for this.

Germany: MICE needs to embrace the shift now

HI+Germany: MICE needs to embrace the shift now

Traditional business travel continues to decline. The MICE sector can largely offset this and help Germany retain most of its top rankings. But the market must now consistently embrace the change, including through bleisure travel.

China is now focusing on intelligent robotics

HI+China is now focusing on intelligent robotics

China has launched its 15th Five-Year Plan by placing robotics at the heart of its modern industrial system. The aim is to pivot its AI research towards physical applications with robots as main drivers for economic growth.

Italy: Booking under scrutiny by Antitrust Authority

HI+Italy: Booking under scrutiny by Antitrust Authority

The Italian competition authority is once again putting Booking under pressure. It accuses the OTA of sorting search results based on commission rates. This violates consumer protection rules.

VIP News from 8.5.2026

HI+VIP News from 8.5.2026

Obituary: Hans Kennedie / Jan-Patrick Krüger / Reto Moser / Joachim Hafner, Kai Jansen / Thomas Rettig / Catherine Weyer

News Mix from 8.5.2026

HI+News Mix from 8.5.2026

BWH/Rome, Chancery/London, Corinthia/Massa Marittima, Dertour/Crete, Double Hospitality/Rimini, Ennismore/Marrakech, Four Seasons/Madrid, Ikos/Chania, JP Immobilien/Vienna, Marriott/Pompeii, Meliá/Elounda, MHP/Mooons, M&G/Barcelona, Novum/Hamburg, Oaktree/Milan, Ovéa/Naoussa, Patrizia/Augsburg, Radisson/Ahlbeck, Tante Alma/Frankfurt, Wyndham/Cala Marçal

European Serviced Apartments exceed 1 billion euros

HI+European Serviced Apartments exceed 1 billion euros

New research shows that the European Serviced Apartment sector recorded approximately 1.2bn euros of transaction volumes in 2025, accounting for approximately 5% of total hospitality investment. This is also connected to Airbnb.

Japanese Seibu Prince Hotels to go global

HI+Japanese Seibu Prince Hotels to go global

Seibu Prince Hotels, a leading multi-brand hotel operator in Japan, has set itself the ambitious goal of growing its worldwide footprint to 250 hotels by 2035. 

VIP News from 1.5.2026

HI+VIP News from 1.5.2026

Jörg T. Boeckeler, Daniela Lindner, Martin Jung, Jörg Haas / Dermot Crowley, Shane Casserly, Des McCann / Noelia Magnusson / Luca De Giorgi / Vincent Poulingue / Wolfgang Kroeger / Mark Tantz, Martin Fast, Boris Raoul

News Mix from 1.5.2026

HI+News Mix from 1.5.2026

Accor/Bengaluru, Bypillow/Padua, Club del Sole/Emilia-Romagna, Design Hotels/Split, Dorint/Düsseldorf, Hilton/Athens, IHG/Aswan, Kempinski/Mecca, Kerten/Tétouan, L'Aquila/Castello, Lenkerhof/owner, LVG/Mantua, Marriott/Budapest, Motel One/Frankfurt, Ostseetraum/Nienhagen, Radisson/Gdansk, SLH/County Mayo, Tin Inn/investor, UniCredit/YellowSquare, Zech Group/Öschberghof

Changing demand: Serviced Apartments under cost pressure

HI+Changing demand: Serviced Apartments under cost pressure

Changes in the Serviced Apartment  market in Germany remain dynamic in many respects: for the first time, more leisure guests than business guests booked serviced apartments. On the other hand, the segment is suffering from the economic crisis.

Think Tank

Until the deadlock is broken

Until the deadlock is broken

Just 10 days to go until the HITT Think Tank in Brussels! The briefings are complete, the speakers are ready to showcase best practice, explain the backgrounds and future plans. Naturally, they're only revealing snippets for now, but by the end, all clicks into place. Join us: a lot of Food for Thought and fun in a pragmatic circle of sustainability-driven entrepreneurs, executives and EU experts.

News from the HospitalityInside Think Tank

News from the HospitalityInside Think Tank

There's news from the HospitalityInside Think Tank in Brussels! HITT is moving to a new lifestyle venue at short notice – the Hoxton Brussels. Experience AI LIVE with us: the AI agents working behind the scenes will connect participants in a unique way. The program is set; 14 international experts are ready to answer your questions. HITT speaks plain text. Register now!

Experience AI for yourself – live at HITT

Experience AI for yourself – live at HITT

Who does what, and where do synergies arise? Who should you speak to at the HospitalityInside Think Tank? The AI will answer these questions. HITT participants will experience LIVE how their own basic and contextual data can generate new contacts and greater insights in no time at all. AI expert Tigran Manvelyan will highlight the most exciting findings during the event.

Sustainability and technology hand in hand

Sustainability and technology hand in hand

With so much hostile noise about sustainability and extraordinary claims about technology the 2026 HospitalityInside Think Tank is a perfect opportunity to check the temperature in the market. A rarity indeed in our increasingly polarised world. The HITT program is here! Register, join us and boost performance in your company. On 11/12 May in Brussels.

HITT 2026 - The Program

HITT 2026 - The Program

The HospitalityInside Think Tank (HITT) 2026, taking place on 11–12 May in Brussels, will focus intensively on the interplay between artificial intelligence, sustainable supply chains and human management. As an exclusive “off-the-record” forum, the event at The Hoxton Hotel provides an interactive setting for dialogue between industry leaders and experts.

Understanding resources, linking them to innovation

Understanding resources, linking them to innovation

Gut feeling is no longer a resilience strategy; numbers count – networked data. And experience, best practices. The HospitalityInside Think Tank 2026 examines how technology and innovation are fundamentally recalibrating the operational performance of hotels and reducing real estate risks. The first three catalysts are here: Misa Labarile from the EU Commission, Nicolas Guichard from the Japanese architecture firm KKAA and Marc Zornes from Winnow in the USA.

"Driving Performance in a Disrupted World"

"Driving Performance in a Disrupted World"

The 9th HospitalityInside Think Tank will take place on May 11/12, for the second time in Brussels. Delve deeper into the chances of success for sustainable resources in these difficult times! This drives performance. Best practice proves it. Top-class experts will analyse supply, architecture & design, food waste, robots & managers with you. And experience live in the group what your AI profile looks like and how AI guides you to an early warning system. The registration form is ready.

Plenty of room for creativity and explosive ideas

Plenty of room for creativity and explosive ideas

Sustainability is when trekking tourists install solar panels in the mountains. Innovation is when a tool is intelligently combined with the human factor. A new team of moderators will shape the 8th HospitalityInside Think Tank: Prof. Graham Miller and Prof. Alexander Schmidt. In May in Brussels.

HITT Sponsors 2026

HITT Sponsors 2026

The HITT Think Tank (hitt.world) is the central meeting place for the hospitality industry to develop pioneering strategies for the future. Through their commitment, sponsors enable high-calibre knowledge transfer and position themselves as thought leaders at the heart of the industry, forming the foundation of this innovative platform. We would like to express our heartfelt thanks on behalf of everyone involved in this project. 

Content Partner

Valamar's new approach: Curated Experience

New 5 Star Pical Resort in Croatia opens for the Next Generation year-round
Valamar's new approach: Curated Experience
8.5.2026

Valamar successfully opened the 5 Star Pical Resort in Poreč, the largest hospitality investment project in Croatia worth more than 200 million euros and offering a unique luxury family holiday experience.

Brushed bronze

Brushed bronze

Materials shape the perception of a hotel and define its atmosphere, quality and recognisability. It is particularly in the interplay of different surfaces that the quality of an interior becomes apparent. Alongside furniture, textiles and lighting, technical equipment is also coming increasingly into focus.

Europe: Hotel distribution redefined

Europe: Hotel distribution redefined

Sabre Hospitality has become Àven. At ITB 2026, CEO Teresa Mackintosh highlighted what powerful, global distribution platforms mean for the future. This also benefits the hotels of Àven’s partner Quality Reservations in Germany as well as across the DACH region.

Using the switch as a charging surface

Using the switch as a charging surface

Would you like to charge wirelessly at home or in a hotel? Then use sockets and switch inserts as functional charging surfaces. JUNG shows how this can be integrated into modern interiors.

Right on trend: recycled plastics

Right on trend: recycled plastics

Sustainability is playing an increasingly important role in the hotel industry – from construction methods to the materials used in interiors. Resource-efficient solutions are also coming increasingly into focus in building services. JUNG demonstrates how sustainable material concepts can be combined with durable design and modern technology.

News Mix overview

News Mix from 8.5.2026

HI+News Mix from 8.5.2026

BWH/Rome, Chancery/London, Corinthia/Massa Marittima, Dertour/Crete, Double Hospitality/Rimini, Ennismore/Marrakech, Four Seasons/Madrid, Ikos/Chania, JP Immobilien/Vienna, Marriott/Pompeii, Meliá/Elounda, MHP/Mooons, M&G/Barcelona, Novum/Hamburg, Oaktree/Milan, Ovéa/Naoussa, Patrizia/Augsburg, Radisson/Ahlbeck, Tante Alma/Frankfurt, Wyndham/Cala Marçal

News Mix from 1.5.2026

HI+News Mix from 1.5.2026

Accor/Bengaluru, Bypillow/Padua, Club del Sole/Emilia-Romagna, Design Hotels/Split, Dorint/Düsseldorf, Hilton/Athens, IHG/Aswan, Kempinski/Mecca, Kerten/Tétouan, L'Aquila/Castello, Lenkerhof/owner, LVG/Mantua, Marriott/Budapest, Motel One/Frankfurt, Ostseetraum/Nienhagen, Radisson/Gdansk, SLH/County Mayo, Tin Inn/investor, UniCredit/YellowSquare, Zech Group/Öschberghof

News Mix from 24.4.2026

HI+News Mix from 24.4.2026

Accor/Interlaken, Barceló/Rome, BWH/Backdrop, Chedi/Jabal Bausher, Cheval Collection/Dubai, DSR/Grömitz, Evok/Rome, Fergus/Puerto Pollença, FMTG/Sardinia, GCH/Salzburg, IHG/Bremen, Jumeirah/Dubai, Limehome/Göppingen, Milu/Bologna, Minor/London, Pestana/Courmayeur, PRISM/Rügen, Radisson/Rome, Resident Hotels/Sirius, Scandic/Berlin, Verkehrsbuero Hospitality/Vienna

News Mix from 17.4.2026

HI+News Mix from 17.4.2026

Accor/Europe, Althoff/Zurich, Amàre/Andalusia, A&O/Apollo, Barceló/Dresden, BWH/Altenburg, Castello/Rome, Centralis/Hamburg, Domes Resorts/Casa Collective, Dormero/Essen, Hyatt/Paros, Investbridge Capital/Belgirate, Leonardo/London, Marriott/Crete, Odyssey/Berlin, Premier Inn/Hamburg, Primestar/June Lux, Radisson/Timişoara, Signo/Essen, Sicily/Sciara Holding, Staycity/Berlin, The Ascott/Manchester

Marketplace

Hospitality: Insolvencies at record high

Hospitality: Insolvencies at record high
8.5.2026

Insolvencies in Germany are on the rise: the catering, hospitality and property sectors are particularly hard hit. The record figures are hitting the federal states of Berlin and Bavaria especially hard.

"With me, Airbnb in Paris is history"

"With me, Airbnb in Paris is history"
8.5.2026

The new mayor of Paris, Emmanuel Grégoire, went into the election campaign with the slogan "With me, Airbnb in Paris is history'’. A ruling has now been issued that points in that direction and is aimed at short-term landlords.

AI arms race: Tech giants invest hundreds of billions

AI arms race: Tech giants invest hundreds of billions
1.5.2026

Tech giants Amazon, Google, Microsoft and Meta plan to spend up to 725 billion US dollars (around 620 billion euros) this year as part of their AI arms race. The money is primarily set to go towards expanding infrastructure such as data centers.

Zuckerberg: Meta AI to work day and night for users

Zuckerberg: Meta AI to work day and night for users
1.5.2026

Facebook-owned company Meta wants to provide users with artificial intelligence that will be active for them around the clock. This will cost a fortune. 

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Berechne...



Financial Results

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EMEAA region stays challenging

IHG Q1 2026: The company reported a very strong Q1 trading performance with better-than-expected Global RevPAR growth of +4.4%. CEO Elie Maalouf remains confident that the company will achieve its consensus growth forecasts and profit expectations.

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APEC leads international performance

Marriott International Q1 2026: International RevPAR grew 4.6% in Q1 2026, despite the conflict in the Middle East impacting March results. U.S. and Canada RevPAR increased only 4.0% while APEC led the international performance.

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The premium strategy has paid off

MHP Hotel AG FY 2025: Munich Hotel Partners is pleased to report a significant increase in revenue and EBITDA for the full financial year 2025. The outlook for 2026 is also confirmed.

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Middle East conflict impacts RevPAR

Hyatt Hotels Corp. Q1 2026: Luxury chain scale led RevPAR growth in the quarter. The geopolitical conflict in the Middle East negatively impacted RevPAR growth by approximately 50 bps.

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Over 1 billion euros in revenue and less transparency

Motel One Group FY 2025: In the 2025 financial year, the budget design chain achieved revenue of over €1 billion for the first time.

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More than 13 million USD in dividends

Choice Hotels Int. Q1 2026: Franchise agreements awarded increased 113% in international markets in the first quarter of 2026. Extended stay remains a core growth engine.

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Generally positive, but a reckoning with Revo

Wyndham Hotels & Resorts Q1 2026: The company provided an update on its relationship with Revo Hospitality und announced first quarter results. Comparable adjusted net income decreased by six percent.

Balance sheets
at a glance


Content Partner

Valamar's new approach: Curated Experience

Valamar's new approach: Curated Experience

Valamar successfully opened the 5 Star Pical Resort in Poreč, the largest hospitality investment project in Croatia worth more than 200 million euros and offering a unique luxury family holiday experience.

Hospitality for Insiders
Would you like a permanent spot at the trade fair? Then secure your exhibitor table or space at the World of Hospitality stand now!
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Infrastructure is a new focus at Expo Real

Expo Real is setting the course for the future. From this year onwards, Expo Real (5–7 October in Munich) is expanding its title to include the field of infrastructure: "International Trade Fair for Real Estate, Investment and Infrastructure".

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Flights: Beware of Scams During Online Check-In

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Down the lift into the heart of a dormant volcano

Iceland offers a unique natural adventure: a descent into the 120-metre-deep magma chamber of the Thrihnukagigur volcano. The lift used for this is a remnant from a film shoot.

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The airline won't pay for herbal schnapps

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