Topic Finance

News & Stories

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.

Expo Real 2011 - Hotel conference: Investors and operators come together
The tomahawk is buried
6.10.2011

Munich. Operators and investors can only achieve success if they each come to a mutual understanding. This is not the same as becoming friends. However, professionalism in one's own job, regular communication and bearing a common responsibility are a must. And so, the results of a discussion round in the "Hospitality Industry Dialogue" at the Expo Real 2011 on the subject "Investors and Operators - Friends or Enemies?"

Small & medium-sized hotels: General problems, but no insolvency wave
Banks keep still longer
22.9.2011

Augsburg. In the German hotel sector, the majority of revenue is generated by hotel chains, while the structure of Germany's hotel landscape remains dominated by medium-sized businesses. As times get harder and margins keep declining, the question is: Will the banks let small and medium-sized companies survive – and if yes, for how long? Hotel consultancies have identified two extreme core trends in this respect – and a great number of challenges. However, most of them do not see any sign of an insolvency wave on the horizon.

Removal from office avoided: Jagdfeld remains head of the Adlon fund
Investors reconsider
5.9.2011

Berlin. To date, investors in the Fundus Fund 31 have had little reason to toast their investment. Yet the move to reorganise senior management failed. Last Friday, August 26, Anno August Jagdfeld received approval to remain Managing Director of the Adlon fund.

Stock Exchange

Share price performance of the week 17/11/17 - 23/11/17

HI+Share price performance of the week 17/11/17 - 23/11/17

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Source: Faktiva / powered by HVS EMEA Enews


 

 

Financial Results

HI+Starwood results 2009: Significant slump

White Plains. For 2009, Starwood Hotels & Resorts reports a significant decrease in its operational results. Yesterday, the US chain published its financial results for the fourth quarter and the full year.

HI+Grand Resort Bad Ragaz: Expansion was the right step

Bad Ragaz. For the first time in the history of the Grand Resort Bad Ragaz, consolidated sales have surpassed the 100-million Swiss Franc margin. The resort's expansion last spring resulted in pleasing occupancy levels. This was announced by Grand Resort Bad Ragaz AG for 2009.

HI+Accor revenues start to stabilize

Paris. Accor's hotels revenue declined by 10.1% over the year and 8.3% in the fourth quarter, which showed a slight improvement compared with previous quarters, mainly due to the first signs of stabilization in occupancy rates in December in Europe. Accor published its revenue figures this week; on February 24, the annual results will follow.

HI+Accor pushes split of businesses

Paris. Accor S.A., Paris sees no major improvement in business in the third quarter. Consequently, operating costs in the owned/leased hotels will be raised from 120 to 150 million Euro. Accor also announced to conduct a review of the potential benefits of demerging the businesses of the Services and Hotels division.

HI+NH and Warimpex first-half year: Single markets falling

Madrid/Vienna. NH Hoteles has had a turnover of 602.9 million Euro in the first six months of this year, 21% less than the previous year; the EBITDA was positive. The first half of the year for Warimpex Finanz- und Beteiligungs AG, Vienna, brought a loss in the amount of 98.6 million Euro because of impairment write-downs, and also in part serious declines in occupancy levels and room rates.

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