Topic Finance

News & Stories

Inflated prices, dubious bidders? The year is drawing to a close
Racing from deal to deal
24.11.2016

Augsburg. Is your hotel real estate located in Germany? No? Then you're missing out. "Located in Germany" appears to be worth a lot of late, more than in the rest of Europe. Valuation multiples soar. At the same time, complaints of greedy price-inflating bidding processes are impossible to miss. The entire scene is also driven by geopolitical factors, recent election results and persistently low interest rates. As the year draws to a close, real estate scouts are becoming increasingly breathless as they race from deal to deal. Renowned buyers and vendors, consultants and brokers give their responses.

Dirk Iserlohe, E&P, on the future of Dorint Hotels in the new HONESTIS AG
Question of Trust
29.9.2016

Cologne. The long and arduous restructuring process for the German Dorint Hotels & Resorts is now entering its final phase: The close web of relations between Dorint Hotels and the underlying funds of the parent company E&P is being systematically picked apart. Dirk Iserlohe, Managing Partner of E&P Holding based in Cologne, has established HONESTIS AG - together with new investors and a new company structure. In the following interview with hospitalityInside.com, he speaks comprehensively and with figures on the plans and details of the restructuring. "HONESTIS represents a clear 'cut' away from the prior connection between operator and lessee," he says. "I will continue to shore up the market position of Dorint Hotels & Resorts in the 4-star full-service conference hotel sector in German-speaking Europe and will not be distracted from this goal - from 2017 with HONESTIS AG - by anything or by anyone."

Austria opens up to crowdfunding as alternative to bank loans
Hotels are perfectly suited
29.9.2016

Vienna. On 20 September 2016, a neutral crowdfunding platform went into operation for Austrian tourism: www.we4tourism.at. Since levels of equity in the hospitality sector are low, the Basel III reforms, which have introduced a barrier to necessary investment, have given rise to alternative forms of finance for Austria's tourism industry. The new form of finance has become possible thanks to the Alternative Finance Act, which entered into force in September 2015. A number of trailblazers have already used crowdfunding for tourism projects, both before and immediately after the introduction of the new law. Here, not everyone acts with as much security and as successfully as Harry's Home though, a company with hotels in Munich, Graz, Linz, Dornbirn and, from 2018, also in Zurich.

Uber and Airbnb lose money with their self-declared disruption business
1.9.2016

Amsterdam. Uber, Airbnb, etc…has the business model of these companies reached its limit? Financial results of both entities show an increasing number of bookings but constant losses. Keeping market shares costs a lot, so do drivers' subsidies for Uber and legal actions and new regulations for Airbnb.

Financial experts demystify the dreaded IFRS 16 Lease
Yes? No? Perhaps?
24.8.2016

Munich. The new standard for lease accounting is allegedly intended to ensure greater transparency and improved comparability. IFRS 16 therefore puts an end to off-balance sheet models - without transitional provisions or exceptions for existing contracts. From 1 January 2019, every type of leasing agreement must be included on the balance sheet. This also poses a challenge to certain sections of the hotel industry as lease contracts - both new as well as existing - are included under the definition of leasing. What listed hotel operating companies must now expect - and what solutions are available, is explained in this article by our author Beatrix Boutonnet and is based on her interviews with experts at Colliers Int., JLL, Roedl & Partner, Jung & Schleicher, Bayern LB, DG Hyp and the Deutsche Hypothekenbank.

Experts on hotel real estate and skin-deep value considerations
Concrete gold no protection against inflation
7.7.2016

Munich. For professional investors such as pension funds, family offices, banks and insurers, hotels play an increasingly important role. This is the finding of a survey by the Austrian project developer Soravia Capital GmbH, which was conducted in collaboration with REFIRE. According to the opinion of the 80 experts and managers surveyed, hotels, residential property, offices and retail property are in demand as investors expect an interesting return. The lion's share of those surveyed saw design budget hotels at the top of this trend. But does popular property also serve as protection from inflation? According to experts, the idea that concrete gold protects the investor from inflation is only partially true, also for hotels.

German Property Federation's "Industry Day" identifies energy as driver
Get-together for politicians and protesters
22.6.2016

Berlin. Everything is getting more digital, tight, scarce and expensive. The real estate market faces major challenges with respect to all asset classes – hotels and office, residential and commercial buildings. Innovative solutions for today's problems was thus the main focus of the German Property Federation's "Property Industry Day" in Berlin. Obviously, about 300 protesters wanted to speed up the process massively protesting against lodgings that are increasingly becoming luxury goods.

Funds Summit 2016: New online portal also gives new signal
Optimistically anti-cyclical
16.6.2016

Berlin. The figures for mutual funds have grown small. And so too has the number of providers. This was made clear at the "Funds Summit" in Berlin. But there are also exceptions. Whilst many initiators still approach private investors with caution, the Augsburg-based Patrizia Immobilien AG has established a new subsidiary in order to expand precisely this segment. With Patrizia GrundInvest Stuttgart Suedtor, it has now put its second fund into distribution and again it focuses on hotels. And something completely new on the market: a new online platform for funds! Who else is still active and what's happening in the world of funds is explained by Beatrix Boutonnet.

Dorint Seefeld closed, Augsburg fund in difficulty
6.4.2016

Cologne. Difficulties experienced by two funds managed by the Cologne-based company E&P will lead to the closure of the Dorint Hotel in Seefeld, Austria next week. The situation for the Dorint Hotel Augsburg is not yet clear.

Debt funds are gaining ground as alternative means of corporate finance
A possible building block
25.2.2016

Munich. New capital requirements for banks, in short Basel III, have caused much upheaval. In order to maintain their margins in the low interest rate environment, banks have tightened their terms. This has hit Germany's Mittelstand hard, and along with it many hoteliers. For them, loans and roll-over finance have meanwhile become much more difficult and expensive. Alternative means of finance such as debt funds have therefore moved more sharply into focus. The market for corporate finance in Germany is currently in a state of profound change.

Stock Exchange

Share price performance of the week 04/06/2020 - 10/06/2020

HI+Share price performance of the week 04/06/2020 - 10/06/2020

                                       Changes compared to the previous week in %.

Source: Reuters / powered by HVS EMEA Enews

Financial Results

HI+Design Hotels 2015: Growth in revenue and EBITDA

Munich. Design Hotels AG is content with its 2015 balance sheet and announces a double digit growth in revenue and EBITDA. A temporarily decrease in cash and cash equivalents and other current assets results from a loan to Starwood France Holdings.

HI+Results 2015: Choice and Motel One happy, Orascom suffers

Wiesbaden. Different business models and geographical spread, different annual results 2015: Choice Hotels and Motel One continue their ascent whilst Orascom Hotels is still struggling with the fallout from terror attacks in Egypt.

HI+A&O, Maritim, Familotel: Only good figures in 2015

Berlin During the ITB the German hostel and hotel groups A&0 and Maritim as well as the Familotel consortium published their year-end results 2015. Everyone looked back on a successful year.

HI+Hilton, Meliá, NH: Strong 2015

Wiesbaden. Hilton, Meliá and NH celebrate the strong business of 2015, the Spanish groups after all the come-back of their home country. And: Hilton still plans the spin-off of the real estate and timeshare business.

HI+Belmond, IHG and Marriott with strong results

Wiesbaden. Belmond, IHG and Marriott show big differences in their year-end results 2015 but have one thing in common: better results - even though IHG's revenue was slightly down due to its change of strategy und Belmond suffered from currency depreciation. The CEOs of the companies remain positive.

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