News & Stories
Frankfurt. The European Central Bank subjected more than 100 banks to a climate stress test: 60% of the institutions failed, they have climate risks in the billions on their books. The second part of Deloitte's "Banking Trend Radar" also confirmed this week: banks are under green pressure.
Madrid. NH Hotel Group heads into the summer with very good perspectives. The 2Q performance even topped 2019 levels and group revenue grew significantly.
Madrid. Spanish Room Mate Hotels has filed for voluntary insolvency. At the same time, it has announced a binding offer from an investor securing business and jobs.
Rimini. The next four to six months might give momentum to hospitality development models in Italy: ROI trends, rising inflation, development costs, geopolitical tensions and price levels might altogether mark the end of current lease contracts. Or at least reduce their numbers sensibly.
Amsterdam. Singapore's sovereign wealth fund GIC, Charlie MacGregor as founder and APG as previous shareholder acquire a "substantial" stake in The Student Hotel from Aermont Capital. The transaction values TSH, including assets under development, at 2.1 billion euros. Aermont Capital exits the company.
Paris. Ennismore is taking over Accor's stakes in Rixos and Paris Society. At the same time, Accor, as majority shareholder in Ennismore, has announced it is in exclusive negotiations to sell a 10.8% stake in Ennismore to a Qatari consortium for a total amount of 185 million euros. This includes a Shari'a-compliant financing of 20 euros million by Qatar First Bank LLC to the Qatari consortium's investment vehicle.
Berlin. In mid-January this year, seven larger German hotel groups documented their hardships since Corona in facts and figures to Economics Minister Dr Robert Habeck. Since February, there have been several responses to this from several levels of government, but all with the same negative conclusion: the subsidy cap for the large medium-sized enterprises will not be lifted under any circumstances. Yet the government would have the power to do just that - even without the EU. Since May it has been clear: the doors in Berlin have been slammed shut. But not everyone wants to put up with that.
Frankfurt/London. The British, listed Whitbread Group sees its growth strategy in the German hotel market confirmed with the Premier Inn hotel brand. This is a central message at the presentation of the Whitbread balance sheet of the financial year 2021/22.
Wiesbaden. Local leisure business still dominates the upswing among international hotel groups, but international tourism also picked up again in the first quarter of 2022. Business was negatively influenced above all by the tightening restrictions in China. The results of the Global Hotel Alliance, Hilton, Hyatt and IHG.
Berlin. Rising costs erode GOP margins as expense ratios increase. In the first quarter of 2021, GOPPAR was negative in all major European cities. In addition, the figures show that the gap between extended stay and full service hotels has widened significantly. Labour costs have also become immense.
