News & Stories

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.

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.

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.

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?"

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.

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.

Berlin. The hotel project developer, HOPAG Hotel Property AG, Berlin, is planning the first German Hotel REIT. They have sharply increased their share capital and by doing so, have prepared for their initial public offering. This was announced by the company.

Munich. The financial crisis has ensured that financial terms for hotels have become considerably more onerous. Meanwhile, however, both the economy and the results of most hotels have recovered well. All the same, hotel consultants and hoteliers are quick to remind that it's still tough. Franchise systems and private hoteliers in particular still have a struggle on their hands. Some banks have even dropped properties altogether - and thus put an end to otherwise good concepts. The approach taken by Austrian banks seems more adventurous. After analysing the credit-provider position last week, we now look at things from the perspective of the hotel consultant and hotelier.

Munich. The financial crisis has ensured that the terms under which finance is obtained have become notably more onerous for hotels. Meanwhile, however, the economy and so the results of most hotels have recovered well. Yet bank still remain very cautious. New rules such as Basel III ensure banks are even more selective in their choices on when and how far to provide finance. Equity-weak hoteliers and project developers often don't get a look in and the only option remaining open to them is the sale. Prices may be low but many international investors still see Germany as a safe haven. Nevertheless, the question is now increasingly posed as to which way the hotel industry will turn if return-orientated investors now begin to dominate decisions. In the first part today: The view of the creditors.

Dueren. Anno August Jagdfeld is leading the power struggle for his part in the Hotel Adlon Berlin with unusual openness and intensity. Here, he has placed his chips on textbook crisis PR aimed at investors and the press. And so, in the foreground to the crucial shareholder's meeting on 26 August, he has voluntarily provided copious amounts of information.