News & Stories

Berlin. A new investment company plans to build a portfolio of managed properties along the entire real estate usage chain: from serviced apartments, co-living, education, office-as-a-service, healthcare and elderly living to urban farming.

Amsterdam. While a second wave of corona cases has triggered tougher restrictions across Europe on travel and social gatherings, hoteliers are not sure they can make it to the end of the year. The biggest chains' share value is melting fast, giants like Accor and AccorInvest are seeking solutions. Suddenly banks and investors are turning their backs on the industry. All over Europe, the first insolvencies are there, and hotel closures are imminent. But consultants see support in the background.

Leipzig. Covid-19 is now also affecting the Private Equity funds. It is particularly difficult for companies with high levels of debt financing.

Munich. Invesco Real Estate, the real estate division of the global asset manager Invesco, has acquired the commercial real estate finance business unit, the real estate debt team and its European assets from Swiss asset manager GAM Investments.

Wiesbaden. The industry associations for the tourism and the hotel sectors continue to warn of an unprecedented wave of insolvencies in the wake of the corona crisis. The first branded hotels, including the Sofitel in Berlin, have already filed for insolvency. Others, such as the Hessischer Hof in Frankfurt, have announced their closure or, like the Maritim Potsdam, are looking to change operator. It is rumoured that the bargain hunters have been queuing up for a long while already. But how crazy is it really? And what do insolvency law experts and lawyers expect?

Munich. Digital tools help to make things faster and more efficient. For the construction, proptechs and contechs, as the startups in the real estate and construction industry are called, help to speed-up processes. They approach many things differently; behind the scenes, they are equipped with a lot of IT knowledge, invest a lot of work effort and entrepreneurship. And it is worth taking a closer look, also in the hotel industry's interest. A growing number of startups are discovering this industry, partly driven by Covid-19 as well as the technological progress in China.

Munich. It's a bizarre situation: While storm clouds increasingly gather over the hotel operators, open-ended mutual property funds are still able to hold their own, even in the corona crisis. Yet it will be near impossible to escape yield losses and devaluations entirely. After all, lease deferrals and defaults are likely to increase. This does not seem to be worrying investors yet though.

Cologne. In the middle of the crisis, Cologne-based Art-Invest Real Estate has placed a €200 million equity hotel fund with institutional investors. Including a new strategy.

Los Angeles/Zürich. The industry is beginning to shake, especially on the owners side. Both large hotel portfolios and individual hotels are being hit. Last week Accor shareholder Colony Capital withdrew completely from the hospitality business, the American Service Properties Trust is now confronting Marriott with payments just like IHG, and in Switzerland Credit Suisse is getting rid of its next hotel, the Swissôtel in Zurich-Oerlikon.

Berlin. The German government has extended and expanded its corona bridging aid for small and medium-sized enterprises. Access has also been simplified. However, large parts of the hospitality industry will not be reached by it at all.