Assets in demand

Munich. The hotel industry has been one of the smallest sectors represented at Europe's leading property and investment trade fair, the Expo Real, in Munich. Nevertheless, the "asset class hotel is no longer niche, but mainstream," Simon Redman, Managing Director of Invesco Real Estate London, said in his keynote speech at the Expo Real Hotel Conference last Monday. Hotel performance is driven by exactly the same factors as apply to every other commercial property: confidence in the location, in the tenant and the concept. For this reason, every hotel owner and operator should listen intently today and learn how the entire real estate sector ticks. "The show must go on!" was the motto this year yet again. Yet in contrast to Cannes, there are no beach parties in Munich, rather time is put to use in intensive meetings. Later, there's the odd get-together allowing leading companies and specialists from the industry to feel the pulse of the trade fair with greater clarity. A first summary.