Topic Finance

News & Stories

Fundus and the Adlon: Black figures, dark future
8.3.2012

Berlin. Adlon GmbH, the company which operates the restaurant and spa in the south wing of the Adlon, is finally back in the black. A comprehensive restructuring concept by a renowned hotel consultancy is now to herald the turnaround. Yet this alone is hardly sufficient to solve the problems faced by Fundus Fund No. 31, as hefty loan repayments are due in 2016.

Closed funds: About risk-taking and good hotel products
Slowly towards the turnaround
6.3.2012

Munich. Closed and open funds have financed hotels quite often in the past. But this has changed since both asset classes have had difficulties. Reason enough for hospitalityInside.com to take a closer look at both types of funds. In the first part, fund specialist Beatrix Boutonnet examines closed real estate funds. An examination of open real estate funds will follow in the sequel.

Black Monday for Heiligendamm
1.3.2012

Heiligendamm. Now it's official. The fund which owns the Grand Hotel Heiligendamm filed for insolvency before the Administrative Court in Aachen at the beginning of this week. The hotel will continue to operate, as 300 staff will have their salaries guaranteed for three months under Germany's insolvency scheme. The decisive question for employees and investors will be: what comes after that?

Fund initiator Ebertz & Partner: Debt finance causes problems
Bad boy Swiss franc
15.12.2011

Munich. Low-interest loans denominated in foreign currencies were once the fund industry's favoured instrument for tweaking profitability. Main Dorint financer, the fund initiator Ebertz & Partner, made especially frequent use of this cosmetic trick for its funds. Yet the continued strength of the Swiss franc has now botched many an investor's forecasts. Dividend pay-outs are now being cancelled as more money is required for interest and amortisation payments on higher loan sums. This has resulted in an urgent need for new liquidity. Accordingly, the Ebertz Fund Portfolio no. 64 has now sold a hotel: the Dorint Hotel Charlottenhof in Halle/Saale. In practical terms, the hotel has all but been retained - just in a new fund.

Rezidor with a new "Route 2015 Strategy"
8.12.2011

Brussels/London. At the Rezidor Hotel group's "Capital Market Day" in London on December 2nd, the company announced their "Route 2015 Strategy" - a number of initiatives to improve the group's EBITDA margin.

Swiss franc and euro also challenge foreign hotel companies
Switzerland facing test of endurance
8.12.2011

Augsburg. The strong Swiss franc raises a dramatic question at the end of the year: will Switzerland witness the death of several hotels next year? Not only hotels in Switzerland are affected by the test of endurance related to the Swiss franc and the euro, but also foreign companies headquartered in Switzerland and forced to make out their balance sheet there as well. In addition, all hotel companies are affected that are located outside Switzerland but have financed their loans in Swiss francs. On both sides of the border, the mood is rather depressing at the moment. In Switzerland, tourist numbers are collapsing, more and more Swiss are spending their holidays in Austria or Switzerland. A snapshot of Austria, Switzerland and Germany.

Credit Suisse's Hospitality Fund is now one year old
Many residential options in sight
1.12.2011

Zurich. One year ago, Credit Suisse launched its "Credit Suisse Real Estate Fund Hospitality" and with it made an "attractive addition" to its asset class real estate, Lucas Meier explains, Fund Manager of CS REF Hospitality in Zurich. The recent financial and economic crisis had delayed the launch, which was originally planned for 2007/2008. Though CS is more than satisfied now: The hospitality quota in the 900 million CHF fund is already as good as exhausted. Yet the aim is to grow further - also with the other hospitality residential options found in this very diverse fund. Lucas Meier on the "CS REF Hospitality" and its portfolio.

Almdorf Seinerzeit: 31 new chalets again focus on simplicity and luxury
Wooden chalets to the heavens of ROI
10.11.2011

Patergassen. A number of providers in Austria have jumped on the "chalet village" waggon. Almdorf Seinerzeit in Carinthia occupied this niche even before the "sustainable wave" began to breathe new life into this type of accommodation. And for this reason, the earthy concept originally developed by Seinerzeit founder, Karl Steiner, still remains unmatched. The wooden chalet village has recorded some the highest average rates in German-speaking Europe. Now, the 28 chalet complex of lodges, hunting lodges and chalets will be transformed into a complex twice its original size and is to be marketed using real estate principles which maintain its extraordinarily original and natural character. The brains behind the design is Rupert Simoner who has worked with Karl Steiner as a partner for one year only. He intends to turn Almdorf Seinerzeit into an exclusive mini-brand.

Expo Real’s hotel conference: Financing more difficult – banks are the problem
Rapid decrease in appetite for risk
13.10.2011

Munich. Selling hotels is getting increasingly difficult. Despite shortfalls in funding among banks, some major deals have been concluded already this year, which was only possible thanks to the coffers of private investors, i.e. pension funds and insurance companies that are filled to the brim. However, the situation has worsened in the meantime. Selling hotels to new investors has become significantly more difficult and volatile. The entire range of moods and arguments was reflected in the "Financing, Refinancing, Sell - Hotel Real Estate on the move” panel discussion at the Expo Real hotel conference last week. Hosted by Christoph Haerle of Jones Lang LaSalle Hotels, the panel featured Marty Kandrac, Managing Director of Blackstone, Thomas Wagner of the Erste Abwicklungsanstalt "bad bank”, and Sym Keun Lee of Ascott International.

Expo Real 2011: Hotel industry between industry-peak and bank-low
Confusing facets
13.10.2011

Munich. Messe München described the 14th commercial real estate fair, Expo Real, as a "stability anchor for the industry" last week. Exhibitors and visitors, on the other hand, are confronted by less stable ratios, even if the general mood was positive. "The reading from the 2011 business thermometer is good," concluded Reinhard Kutsche, Board Chairman of Union Investment Real Estate, before adding: "Nevertheless, a cooldown is increasingly expected going forward". This is also true of the hotel industry, as was clear from many discussions. The positive mood prevails, but there is also much concern. This was clear both at the Hospitality Industry Dialogue as well as from hotel exhibitors.

Stock Exchange

Share price performance of the week 01/12/17 - 07/12/17

HI+Share price performance of the week 01/12/17 - 07/12/17

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Source: Faktiva / powered by HVS EMEA Enews


 

 

Financial Results

HI+IHG 2009: Nearly 19% decrease

London. The InterContinental Hotels Group plc reported its group results 2009: Revenue decreased by 18.9% to $1,538m and operating profit before exceptional items decreased by 33.9% to $363m.

HI+Ramada/Treff: Result at the 2007 level

Bad Arolsen. The roughly 70 hotels of Ramada and Treff Hotels in Germany, Austria and Switzerland - bundled into Hospitality Alliance AG - generated 242.2 million euros in turnover in 2009, which is only 2.9% less compared to the same period of the previous year. This was announced by the hotel group yesterday.

HI+Marriott 2009: Heavy losses

Bethesda. For the full year 2009, adjusted income from continuing operations attributable to Marriott totaled $342 million, a decline of 38 percent, and adjusted diluted EPS from continuing operations attributable to Marriott shareholders was $0.93, a decline of 38 percent. Marriott International published its fourth quarter and year end results yesterday.

HI+Wyndham: Revenues 12% down

Parsippany. “We are pleased to report solid earnings and increasing free cash flow for the quarter and the year, and to announce an increase in our dividend along with our intention to resume our share repurchase program. Our results reflect resilient business models and strong execution,” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide presenting the results for the year ended December 31, 2009.

HI+Rezidor 2009: Significant RevPar decline

Brussels. “Occupancy reached 2008 levels in Q4, but rates continued to decrease. With limited visibility, it is still too early to assume this is the start of a recovery," Kurt Ritter, President and CEO said yesterday while presenting the year end report 2009 of the Rezidor Hotel Group.

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