Bye-bye boom, welcome sustainable. HI and the HITT join in.

Dear Insider,

Cash flow is King. Hotel operators are the focus of credit checks - a consequence of the ongoing insolvencies in Germany. This turns the tables again: Those who scaled up the fastest in the past secured market share and did not (or no longer) care about profitability. Now, financiers are becoming more conservative again. Capital discipline is the new buzzword. Our financial expert Beatrix Boutonnet explains in detail how the screws have continued to turn. It's time to say bye-bye to the boom.

The desire for value-add and core assets may remain, but success lies in many subtleties, as the Omnam Group is also making clear to us today. The financially strong Israeli investor and developer has chosen Italy as its core market.

The Middle East will now also experience what capital discipline means - and perseverance. In their forecast for the region, the WTTC and other data analysts talk about alarming negative figures. Just one: Revenue losses are expected to stand at around $600 million per day in the current year. The Iran conflict is now even being mirrored in Switzerland and other countries. We have compiled some new examples.

© hospitalityInside.com. Dieser Artikel ist urheberrechtlich geschützt. Sie dürfen ihn unverändert für nicht kommerzielle Zwecke weiterverbreiten, wenn Sie "hospitalityInside.com" und ggf. den Autor als Quelle nennen und er mit diesen Bedingungen für eine weitere Verbreitung erlaubt und gekennzeichnet wird. Falls Sie Inhalte für werbliche Zwecke nutzen möchten, fragen Sie bitte bei uns an.

Verwandte Artikel

Joy and frustration: Tourism only works in times of peace

6.3.2026

Dear Insider,

The empty stands in the Middle East halls at ITB Berlin this week are a stark reminder of the war in a major region whose tourism revenue is set to collapse dramatically in the coming months. With the US and Israel attacking Iran, the flow of tourists from all feeder markets will stop - from the EU, CIS, India and the GCC states.

Since the beginning of the week, contacts from Dubai and Abu Dhabi have kept me informed about the situation on the ground with up-to-date information and photos; I may quote some of them. In Abu Dhabi, the government communicated the security status to the residents in short, clear formulations, just as the hotels were informed that the costs of stranded guests would be paid by the state. The economic reality is the blatant extreme: The destination loses confidence and tourists, and the value of prime real estate drops dramatically.

One day before the surprise attack, European tourism experts analysed travel behaviour - as usual at ITB. According to their (German) analysis, 2026 is set to be a super year, despite some "backward" trends. It is possible that Europe, and Germany in particular, will once again experience a flood of holidaymakers as a result of the depressing situation in the Middle East. But nothing is guaranteed in this country as long as there is no peace in Ukraine.