HI+

Party and golden jail

9.11.2017

Dear Insiders,
Big party at 25 hours: Yesterday, the lifestyle group opened its 10th hotel at Munich's central station. "The Royal Bavarian" offers "Royal Chambers" and "Box Rooms"… And there are royally pompous paintings opposite the reception: In rank and file, the "highly decorated" partners of 25hours hang in golden frames – and amongst them, 25hours' shareholder AccorHotels in the person of CEO Sébastien Bazin. Petit Napoleón – a royalist? That's the question here. Simply humour with style.
Munich is also home to another young lifestyle company, which wants to diversify its portfolio with co-working spaces in future. Michael Struck at Ruby Hotels fully relies on Ruby Works; sometimes with, sometimes without a hotel. He is testing this model via a joint venture with Europe's largest advertisement agency Serviceplan. Fittingly, an up-to-date co-working study taking Hamburg as an example, was published today. Struck's vision and bare market figures, recorded by Beatrix Boutonnet.
Rome is "out", the rest of Italy is "in": This is what Giuseppe Rojo, CEO Coldwell Banker Commercial Italy, a large real estate intermediary, is experiencing with regard to the current demand of investors. International funds recognise the present investment opportunities, Italian funds don't. The scene is slowly coming into motion now. The banks have started to provide the market with non-performing loans, as Massimiliano Sarti observed.
A leap to Vietnam, to the Austrian hotelier Herbert Laubichler-Pichler, who has to establish the new luxury resort The Anam in Cam Ranh. And one thing became clear: The demands in Asia have increased drastically. The Asian guests want to know more about fine dining, and the Asian staff members are demanding three times higher wages. In return, foreign chefs have to furnish proof of a university degree or similar if they want to work in the country. The Vietnamese learn quickly: They are also provided with knowledge by the ICM University of Applied Sciences Krems, as Fred Fettner found out.
This week, the internet vaulted some news around the globe: Prince Alwaleed of Saudi-Arabia has to defend himself against accusations of corruption, just like other ministers and princes in the country. His jail is the Ritz-Carlton. However, the investor, who is very respected in the hotel world is not happy: His Kingdom Holding has lost two billion US dollars in value this week.
We are talking about only one billion at Wyndham. The chain wants to sell its European Vacation Rentals: Airbnb and others are lining up. At Meininger Hotels, only hotel media will probably line up, after the hotel company appeared on the list of the "Paradise Papers" this week. Investigative journalists are accusing the hotel group and its parent company Holidaybreak, based in London, of a borderline approach concerning tax avoidance. Of course, there is no statement available on this matter, but a "bad taste" remains.
HNA has to do some serious thinking now: How do they want to continue with NH Hotels? Apparently, the Chinese conglomerate plans a slow withdrawal. The group has already sold the first 1.14 percent of its NH shares. Do they want to sell all their shares? Interested parties are lining up here as well.
Interesting news concerning personnel matters: Christoph Mares has been promoted to COO at Mandarin Oriental, while the German Novum Hotels and their COO Mario Pick are going separate ways again after just nine months.

Yours, Maria Puetz-Willems, Editor in Chief

Your opinion? maria@hospitalityInside.com

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