Dear Insiders,

This week's code is REVO. These 4 letters have been worrying many people since last Friday; they fuel emotions, and people are waiting for positive signals or at least some information. Exactly one week ago, the largest German and pan-European hotel operator, Revo Hospitality, filed for self-administered insolvency. The telephones were ringing nonstop (no e-mails!) as I heard from nearly all conversation partners this week. However, no information from Revo.

This week, we were able to collect only a few facts, and we can publish only a little. However, it is more important to prevent bashing of the entire hospitality industry right now. In our article, Hotour asks the market to remain calm and patient. The restructuring of the 140 affected companies could take until fall or even winter, as it can only start on April 1, after the current "pre-insolvency phase" of three months. In addition, we talked to the Napp Group (R+V) about rental and lease guarantees.

The Revo story hasn't been transparent; it is rather complex and chaotic. But everyone is entitled to learn from mistakes. Therefore, hospitalityInside will question this large insolvency and the behaviour of other stakeholders step by step in the coming weeks. This disaster is a great opportunity to confront the industry with itself. Please share your Revo story or your reflections on the industry with me.

Now, something positive. The hotel group Primestar, still not that known, has found a tech enthusiast in its new owner and investor, Dr. Roland Rausch. He wants to show small German and large US chains what a digitalised community will look like at the Elbtower in Hamburg, which is already spectacular today. The 195-room hotel is the third tenant in the 199-metre-high mixed-use building and the first Hilton in Hamburg.

Austrian hoteliers are caught between optimism and pessimism. The annual ÖHV conference showed: Investments are decreasing, costs are increasing, but the low seasons are becoming stronger.

In our news: Albania is the star of EU tourism. The Italian Alpitour Group is in the midst of a change in leadership (CEO). Wages in the German hotel industry are levelling off again. Mews receives another investment injection. Water is becoming scarce around the globe. The wave of hotel projects remains strong, and many new managers are expected to strengthen businesses at the beginning of the year.

In our public news: Home exchange instead of a hotel, protection of the oceans, "shared clothing" in Japan, and well-earned money for the new "night experiences."

Discover your strengths! The new year is still young.

Yours, Maria Pütz-Willems
Editor-in-chief