Dear Insiders,
The discussion on finance and the EU taxonomy requirements at the Expo Real hotel conference involved some very expert participants. Some names will not be known to everybody (Jean-Jacques Morin/Accor, Ufi Ibrahim/EEA, Manuel Ehlers/Triodos Bank), though others will certainly be familiar (Andreas Ewald/E&V and Roland Paar/Soravia). All of them wish to go down the ESG path together. If, yes, if the politicians finally manage to clearly regulate the financing standards! There was a lot of criticism on this point.
Everyone wants to set out into this new era, but they are being thwarted. Ufi Ibrahim from London did his best to provide motivation, to take away the fear of ESG: "It's simple, it's business in a smart way!"
Incidentally, this clear language ran through all the conference panels. We will summarise all of them over the coming weeks. For the first time, the Hospitality Industry Dialogue was dedicated to just a single topic. And the stream of visitors showed that it was high time to communicate more about sustainability. I, for one, still saw many sceptical faces in the hall though. At the other extreme though, the first masters of greenwashing were also noticeable.
The next few years will show who has understood the challenge ahead and how much of it has been implemented. And that goes for those who still need to look up the word cybersecurity. I hosted a panel on this topic at Expo Real 2017 (!). Now, it’s hitting one hotel group after the other. Quite arbitrarily.
Sarah Douag took a broad look at the issue of cyber-attacks, grilled Booking.com and heard from experts: AI and other innovations à la ChatGPT will make hacking attacks even more refined in future.
Motel One gave us a brief statement on the status quo following the cyber-attack it suffered at the end of September. Alexander Fitz, the CEO of H-Hotels, and his team were unlucky enough to fall victim to an attack in December 2022. "A nightmare," he says. Within 10 minutes, 90% of the front office system was scrambled; after that, employees were reduced to pen and paper for months. Thank you, Mr. Fitz, for providing invaluable details and advice on the experience to your colleagues today!
The sector is certainly experiencing ups and downs these days, as reflected in today's issue. What's the surprise of the week? a&o Hotels is being sold for €800 million - as we predicted at the end of March. Insiders confirm this and CEO Oliver Winter did not want to deny our question. In a few weeks, it will be official.
How was the 3rd quarter in Germany? Transactions are at a standstill. Expansions? More and more hotel groups from Spain want to conquer Italy. ESG & Procurement? Accor, Hilton, IHG, Marriott and Radisson want to form a purchasing syndicate in future and check their suppliers according to common specifications. New fish in Berlin.... There will be none.... The mega-aquarium at the Radisson Collection Hotel will not be rebuilt. Also because it is now clear: There was no clear cause of damage.
And what else do we have today? As always, the magazine features personalia and a news mix from the real estate market. And on our new public pages you will find a diverse selection of news including: Guide Michelin is now expanding into hotels, Berlin will soon host Germany's first sustainability summit, TUI is building a digital hub in Portugal, and a clever company has invented cement-free concrete block....
At the end of Expo Real week, we also have a personal message: On the "Expo Real" page, HospitalityInside says thank you! We also provide a retrospective and look ahead for 2024, including testimonials from our co-exhibitors. We have also added some nice motifs to the picture galleries from last Friday (start page).
Stay connected with us - also by clicking on our Investment BAROMETER! The online tool is always available and comes with a gift: we are giving away a brand-new book with questions and answers about sustainability. The key to the book is obtained by answering these questions on investments!
Till next Friday!
Yours, Maria Pütz-Willems
Chief editor
