Dear Insiders,
Adjusting in line with turbulent times requires creativity and, in spite of all the uncertainties, it also requires patience. The GMs from the Hotel Belvedere in Locarno, Kempinski St. Moritz and the former TH Resort Schloss in Pontresina report on how they saved their performance since Switzerland's decision to come off the euro peg. One shocked his guests with dynamic pricing, the other adjusted his product to fit better with the seasons, and the third simply gave up.
After the introduction of the higher rate of VAT in Austria three weeks ago, hoteliers are also looking for a suitable painkiller. The chaotic new rules prompt hoteliers to perform their own financial acrobatics. I ask myself how the individual guest is supposed to understand it all.
And it was just as difficult for the CEOs of Priceline, TripAdvisor and Expedia as they had to admit that they are losing profit after publication of their Q1 results. Are the OTA giants beginning to falter?
Global turbulence is also being felt in Qatar. But the Emirate intends to sit out the various crises and continues to work on its long-term strategy. This year, the Qatar Tourism Authority will implement long-held plans: A new system of hotel classification also undertake both owners and developers, and renowned cruise companies will have their cruise ships dock in Doha from the 2016/2017 season, including TUI Cruises. More beach resorts are also being built. And certainly one thing must be conceded to Qatar: In contrast to Dubai, Qatar is more open with regard to its figures, also in difficult times - at least that was the case for us. t the end of this story, Jawad Khan, Director, Debt & Capital Advisory, PricewaterhouseCoopers Dubai explains the current investment climate in the region.
And in the news this week: Italy can provide national but no international figures on the winter season; the courts have stopped an idea on the Canary Islands which would limit hotel construction to 5-star hotels; a new study describes the next luxury travellers; and the Swiss have analysed the subject of food waste in the hotel industry.
If you're interested in a country with potential, then you should look more closely at Poland. Thanks to our media partnership with the still small and personal conference "Spotlight Hotel Investment Poland" on 13/14 June in Warsaw, I will certainly learn a thing or two myself. Christie & Co explains the positive development in an interview today. More on this on page 1. Another banner there leads you to our seminar "Green Hotels" on 22 June in Munich, with special rates for our subscribers. – The full editorial…
