News & Stories

Paris. Pierre & Vacances Center Parcs, the European leader in leisure residences is bleeding cash and does not expect a return to profitability this year. That being said, the group which operates 45,800 apartments and cottages in 282 locations across Europe is confident it will bounce back as soon as travel resumes.

Bern. With a new test strategy and an increase in hardship aid, the Swiss Federal Council took important steps on Wednesday to overcome the crisis.

Brussels. Finally millions in aid for the larger companies? The EU has given the go ahead for Germany's outstanding part of the exceptional economic assistance for November and December and also extended aid to all companies until the end of 2021. The reaction from large hotel chains was cautious all the same.

Rimini. Renovations and conversion have gained importance in the pandemic. An Italian consultancy compared costs for different building types, from revamping to conversions and greenfield.

Frankfurt/M. In 2020, the transaction volume on the German hotel real estate investment market amounted to 1.95 billion euros. A minus of around 60% compared to the previous year. CBRE with additional information on the market.

Vienna. After a record year in 2019 with a transaction value of more than 1.25 billion Euros, the pandemic-related fall to approx. 280 million Euros also followed in Austria in 2020.

Wiesbaden. The wave of insolvencies in the German hotel industry is rolling in. Leading lawyers expect a sharp increase in insolvencies this spring, even among medium-sized and large groups. The second lockdown, the continued absence of the recovery and government's ineffective countermeasures leave many companies with no other option.

San Francisco. Despite facing regulation issues in many destinations across the world as well as multiple lawsuits, Airbnb just "broke" the stock exchange. The company's IPO surpassed its founders' hopes and topped a 100-billion-dollar valuation last week. Investors are betting on Airbnb to lead the travel rebound globally. Will the platform soon become the number one e-travel company? Most importantly, when will they start making money consistently?

Berlin. The full disbursements of November aid - promised firmly by the German government - for suffering hoteliers and restaurant owners continue to be delayed; they are therefore extended to December. In addition, the Bridging Aid III has been revised. And the insolvency application requirement remains suspended in January to prevent a first wave.

Wiesbaden. As the first large German hotel group, Novum Hospitality GmbH from Hamburg has secured a loan from the German Economic Stabilisation Fund and is thus one of seven companies of different industries so far to have been granted this support at all. The voices from the industry on this range from recognition to scepticism.