Dear Insiders, The eternal discussion, lease or management contract, polarises. Representatives of Union Investment, Hilton and hcb concepts tried to find out how a deal can be reached where one side is allowed to conclude only lease agreements and the other only management contracts. As of 2012, the lease agreement could have serious consequences for company accounts: As of then, new definitions of operating and finance leases enter into force. "The planned new definition under IFRS will change the European hotel landscape!" Arabella CEO Wolfgang Neumann forecasts. Health care real estate is in trend in Western Europe, one analyst from the Viennese real estate specialist, MRG Metzger Realitäten, says. Above all, operators are pushing development. Reticence on part of investors is harder to understand given the reliable returns from such real estate. Just how health care real estate and tourism/hotels can be brought together will also be illustrated by a workshop for investors, financiers and hoteliers held by Kohl & Partner on 5 July in Munich. The programme is now perfect and can be read by everyone in our "Network" section. Our contribution on the small Emirate of Sharjah, Dubai's smaller neighbour, today looks at a further piece of the puzzle in desert development. And I can soon tell you myself how things are looking in Dubai: Next week, the editorial will be brought to you by my colleague Susanne Stauss as I will be in Dubai and Abu Dhabi to pick reliable and first-hand informations for you. Information on hotel construction, is the business of our colleagues at "hotelbau". The specialist magazine introduces itself today in our "Solutions" section.
