Dear Insiders,
Should the British decide to leave the EU on 23 June, this would also have severe consequences for tourism and the hotel industry - on both sides... Outside the EU, the British would shrink as guest group - and in Great Britain, tourism companies would be forced to plug massive personnel holes. In the hotel industry, employees from the EU account for 42% of staff. Investors are just as worried: They have put UK projects on ice: There is plenty of angst… Sarah Douag provides the facts.
In Italy by contrast, there's more hope. Transactions on the hotel real estate market are again beginning to rise - and thus also the interest from international investors. A new fund, exclusively conceived for tourism projects, is intended to attract further capital here, also for secondary destinations. Up to now, it's been almost exclusively the big names signing trophy asset deals. Massimiliano Sarti explains.
The current results from the hotel industry in Dubai speak a language quite different to that of the incurable optimism generally exuded from this city. "Think Big" is still the motto. The many new theme and entertainment parks, all of which will open pretty much at the same time and all of which aim to attract millions of visitors, show precisely this. Anyone visiting the newly opened hotels feels the sober deliberation over the current market situation and a touch more creativity. This month, Dubai will pass the magic threshold of 100,000 rooms.
And among the 100 luxury hotels in the city, there is now a second Four Seasons - a boutique hotel in the Financial Center - as well as the Steigenberger Business Bay with a charming German touch. The land and project developer Emaar, has also opened its first midscale hotel. I visited the three hotels mentioned. And alongside this in today's news mix from the Middle East today, I have again collected some interesting news on the clever Choice deals with the Saudis.
Also in the news this week: Shortly before the merger with Marriott, suddenly one Starwood property after the other is being sold. Panic before the wedding? Whether the deal will close at all is again questionable: Two Starwood owners from New York and Chicago have taken a claim to court - they assert contractual protection for their brand hotels.
And German bureaucracy has finally made life easier for hoteliers. They will soon no longer be liable for guests surfing on WiFi connections with malicious intentions. Booking.com is still having a hard time with the German competition authorities: a decision has overturned recent arguments made by the OTAs. And according to annual reports, the hotel industry is still a joy for tour operator TUI. Enjoy! – The full editorial…
