Topic Finance

News & Stories

Budget hype, bargain hunt and increasing restrictions on credit
Is everything still about budget?
30.8.2012

Munich. The question as to the direction of the transaction and investment market for hotels is of crucial importance for the hotel sector. On the one hand, investment volume recorded in 2012 is still not really good. On the other, many hoteliers are looking for successors, particularly in Germany. Many of these are positioned in the midscale segment. According to those that know the market, current framework conditions and economic rationale will largely favour the budget hotels. The next crisis is then likely to hit the midscale segment hardest. An analysis of the German situation.

German Ministry of Finance and EU introduce new regulations for funds
Spectacular development
26.7.2012

Brussels. What a development! Last Friday, the German Federal Ministry of Finance presented the long-awaited draft for the implementation of the European Directive on Alternative Investment Fund Managers. The draft caused much concern among both open and closed-ended funds last week, which in the past have often provided hotel finance. The fund industry has reached a turning point. The draft, if it were to be approved, would prohibit the inception of new open-ended real estate funds. To date, though, not all points covered by the draft are clear. Many points appear ill-tailored. The draft will therefore need considerable reshaping. And much is likely to be lost along the way. After all, it not only seeks to regulate the managers, but also the products themselves.

Insolvency at the Nuerburgring: Mixed hotel feelings
19.7.2012

Adenau/Eifel. Following the insolvency application of the Nuerburgring GmbH on Wednesday, the future of the race track and its new leisure park hangs in the balance. With this, the resident hotel operators Lindner and Dorint wait with mixed feelings.

Heiligendamm: Further bad news threatens
28.6.2012

Heiligendamm. The unending story of the Grand Hotel Heiligendamm continues: Now, the hotel is to give up 80 beds. There are also administrative threats. And some investors have even pressed criminal charges.

Yotel surprises with a multi-million-dollar expansion and a world premiere
The first luggage robot
7.6.2012

New York. The unconventional cabin hotel brand Yotel hit the headlines this week in the US: On the one hand, Yotel announced to issue a 250-million-dollar fund with three partners; in the next five years, the group plans to expand in North America. On the other hand, Yotel's first robotic luggage concierge led to chuckles all round. He works in New York.

Open funds: Domino effect for CS Euroreal
24.5.2012

Frankfurt/M. Another fund heavyweight falls as CS Euroreal is liquidated. The decision has been taken and a clear signal has been sent to the entire industry.

The hotel investment climate in the Middle East and North Africa
Security far beyond pre-crisis
10.5.2012

Dubai. The hotel investment climate in the Middle East and North Africa maybe improving, but the financial crisis in Europe, anemic appetite of MENA lenders to dabble in property financing and lack of transparency over hotel transactions is deterring genuine pickup. While sentiment to hotel investments has improved with the stellar performance in cities such as Dubai and Riyadh, banks have not been quick to complement the rosier outlook, said speakers at the "Arabian Hotel Investment Conference" that recently took place in Dubai.

Heiligendamm: The show goes on
10.5.2012

Heiligendamm/Berlin. Insolvency proceedings have been opened; a suitable buyer for the Grand Hotel Heiligendamm has not yet been found and more and more investors have taken recourse to the courts.

SEB to liquidate billion euro fund: Three renowned hotels to be sold
Open-ended real estate funds to be reformed
9.5.2012

Frankfurt. Now it's official: SEB Asset Management AG is set to liquidate the SEB ImmoInvest fund with a portfolio valued at over six billion Euro. The Frankfurt-based investment house cleverly decided to leave the decision to investors. And their will was clear: On the crucial date, EUR 1.9 billion in liquidity was insufficient to satisfy all redemption requests. As a result, SEB was forced to announce that the fund will be liquidated. Now, 132 properties must be sold over the next five years, including some renowned hotels in Berlin. The fund industry now stands at a crucial turning point, in particular since CS Euroreal also tries to follow the SEB model.

Hotels remain attractive – but criteria are all very similar
Funds still in demand
25.4.2012

Munich. Times are difficult. Security is the key. Hotel properties as niche products and special properties with a lot of knowhow requirements hence seem to be questioned even more than before by current buyers. And this happens even more often as many open-ended real estate funds have to cope with their own problems. Closed-end real-estate funds have problems as well. Consequently, they tend to "play safe" when it comes to new investments. But not all investors regard office properties and retail properties as a panacea. Some established providers like Deka Immobilien, Invesco Real Estate and Fondshaus Hamburg deliberately rely on hotel properties as investment objects. They have good reason to do so.

Stock Exchange

Share price performance of the week 20/04/18 - 26/04/18

HI+Share price performance of the week 20/04/18 - 26/04/18

                                                   Changes in %.

 

Source: Faktiva / powered by HVS EMEA Enews

Financial Results

HI+Grand Resort Bad Ragaz: Well positioned

Bad Ragaz. The opening of the Grand Resort Bad Ragaz in 2009 took place during the globally largest economic crisis since the end of the twenties. Although only part of the hotel's capacities were available at the beginning, and the Tamina Therme only opened in the middle of 2009, the Grand Resort Bad Ragaz AG achieved the 100-million franc margin for the first time with a consolidated 100.5 million CHF.

HI+Falkensteiner changes strategy and structure

Vienna. The Falkensteiner Michaeler Tourism Group based in Vienna, to which Falkensteiner Hotels & Resorts belongs, presented its annual results last Wednesday in Vienna. The background: The company intends to become more transparent for investors and equity partners. Accordingly, it will convert to an "AG", an Austrian stock corporation. This brings personnel changes at the top level of management. The group ends 2009 positively. Six new contracts have recently been signed and a further four are imminent.

HI+(Motel) One Hotels: Mixed results

Munich. One Hotels & Resorts AG, Munich unites the low budget design hotels of the Motel One brand as well as three resort hotels. Their performance is varied. Now, results for 2009 have been reported.

HI+The end for the lease contract?

Munich. The lease accounting reform under IFRS is scheduled to come into force in 2012. "This has serious consequences for the hotel industry!" Wolfgang M. Neumann forecasts, CEO of Arabella Hospitality Group in Munich. After all, leasing transactions also include lease contracts for hotels. The new directives will change operating and accounting ratios, which in turn may worsen the hotel's position in credit negotiations. "Classic lease relationships, which under existing rules fall subject to off-balance-sheet accounting, will thus meet limits and will make it more difficult for hotel companies to sign lease agreements," Neumann concluded. Do the planned new rules under International Financial Reporting Standards, mean the "end" for the lease contract?

HI+Frontiers are coming down slowly

Berlin. "We only sign management agreements!" This sentence has been repeated by many hotel chains lately. The global players want to force franchise agreements or management agreements. However, this is not very popular amongst investors, especially in Germany. They still prefer lease agreements with stable cash flows and solvent lessees. Developers also prefer hotel projects with lease agreements as they can be financed and placed more easily ... The polarisation is becoming more obvious now. How is an approach possible? Union Investment, a funds investment company and active hotel investor, is interested in lease agreements and recently issued an invitation to a mini round table together with hospitalityInside.com. At the table: Dr. Frank Billand and Martin Schaller of Union Investment, Project Developer Olaf Steinhage and Developer Ulrich Widmer of Hilton Worldwide.

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