Topic Finance

News & Stories

11th IHIF in Berlin: Investors more afraid of credit crisis than hoteliers
More honesty, less lip service
14.3.2008

Berlin. If last year's IHIF had a slightly "top of the wave" feel to it then the clouds have moved in and a far more cautious mood prevailed last week. Unsurprisingly less so amongst than those reliant on a transacting market and the economists and forecasters. The International Hotel Investment Conference in Berlin focuses on the hotel market there is less talk about hospitality and more about creating shareholder value, churning assets and share price. "We don't sell hotels to hoteliers anymore but to investors who are looking at all types of real estate investment", explained Derek Gammage, Managing Director, CBRE Hotels. Or as the conference chair, Andre Martinez, Managing Director and Charirman Global Lodging, Morgan Stanley put it "delegates are here for deals, debt or jobs".

Special symposium: 12.6 billion Euros for closed funds in 2007
More superlatives, more black sheep
15.2.2008

Munich. Never have there been more providers, more fund models and more fund investors as in the last year. Total fund volume came close to record levels. In the real estate industry, hotel investment funds grew alongside foreign property funds. Currently, hotel funds are particularly attractive to institutional investors.

Considerable additional trade tax burden for lessees in Germany
No Christmas cheer
11.1.2008

Munich. The corporate tax reform, effective from 1 January 2008 not only entails trade tax advantages for German companies, but also considerable trade tax disadvantages, especially for lessees of hotel properties. A comparison shows the significant new tax burden according to the new law.

The challenge of finance and development: A very good year
Individual deals become more popular
21.12.2007

Munich. The year 2007 was, simply said, a good year for hotel developments and transactions. Though it should have been the best year of all for estate agents, transaction advisors and specialists. This, it certainly wasn't. Stephan Gerhard, Managing Director of the Treugast Solutions Group based in Munich, looks back on 2007 with slightly mixed feelings.

Dr Herbert Ebertz to leave management
7.12.2007

Cologne. Important changes are taking form in the company management of funds initiator Ebertz & Partner, Cologne: Partners Dr Herbert Ebertz and Dr Karl Bartel will withdraw from active management of the Group by 31 December 2007. Following their departure, third company partner, Dirk Iserlohe, will go on to restructure the company.

The subprime crisis affects Basel II - New situation in 2008
Loans could flow again
30.11.2007

Frankfurt/M. For four months now the subprime crisis and its consequences have been keeping the international financial market in suspense. Many banks are still unwilling to pass on liquidity, and it is still unclear what risks lure inside the books of the individual market participants. In Germany, the turbulences had an impact on Basel I, the currently valid bank risk management system. For most German and European banks will not be introducing the new Basel II equity capital regulation before 2008. The banks are optimistic that they will again be able to grant loans as of January. Martina Fidlschuster, Managing Director of the Hotour consultancy in Frankfurt and member of hospitalityInside.com's circle of experts, explains the situation.

Gruppo Statuto invested over 1 billion Euros in hotels over four years
Values in focus
23.11.2007

 

Rome/Milan. It's mostly only insiders who read his name. And it's a name that appears only in connection with the big names in the hotel and banking business: With UBS and Merrill Lynch, with Four Seasons and W, Mandarin Oriental and InterContinental. Giuseppe Statuto began investing in hotel real estate only four years ago. Since then he's spent over one billion Euros, including renovations. Nevertheless, the 40 year old Italian still doesn't see himself as a "real estate man", but rather as hotelier. Maria Puetz-Willems spoke with Giuseppe Statuto about his Gruppo Statuto; on finance, operators and contracts.

Construction costs to overturn calculation
16.11.2007

Duesseldorf. Heavily rising costs can lead to hotel real estate calculated a year ago no longer being realisable.

New equity for Heiligendamm
9.11.2007

Berlin. Two days prior to anniversary celebrations at the Kempinski Hotel Adlon in Berlin, shareholders attending the Fundus shareholders meeting decided to place shares to the amount of 30 million Euros for the sister hotel in Heiligendamm at the Baltic Sea. Over 90% of the 1,900 shareholders were in favour of the motion that the new shareholders will get their dividens preferentially to elder shareholdes. Following the G8 summit and the budget-bed campaign, occupancy rates at the luxury hotel will in 2007 for the first time cross the 50% threshold.

Pflaums Posthotel Pegnitz to resist Russian private-equity partner
Pulling the rip cord
9.11.2007

 

Pegnitz. Andreas Pflaum is learning the hard way. After his hotel, Pflaums Posthotel in Pegnitz, became a victim of the crash of the Schmidt Bank in Hof, he managed to reduce liabilities very quickly. He financed the remaining amount via private equity, a Russian investor living in the Ukraine, who, as a guest, became besotted with the creative, art and design hotel in Franconia. As an intuitive man, the hotelier trusted him. But a few days ago, Pflaum pulled the rip cord. Now, the agreements are formally reversed. The 50-room hotel that has been owned by the family for 300 years, gives shelter to Pope Benedikt, Federal President Koehler, tenors and goal keepers, stars and celebrities - and not only during the best VIP time around the Bayreuth Festival.

Stock Exchange

Share price performance of the week 03/07/15 - 09/07/15

HI+Share price performance of the week 03/07/15 - 09/07/15

                                                                   Changes %



Source: Reuters / powered by HVS EMEA Enews


Financial Results

HI+The big markets are humming

Augsburg. The quoted "global players" present their 2006 quarterly and semi-annual figures. The key figures developed well particularly in the US and South America. In Europe, the Football World Cup pushed the group business, as Marriott emphasised. The following overview contains the figures of Hilton, Marriott and Starwood as well as those of the Steigenberger and NH Hoteles groups which are relevant to the German market.

HI+Accor's businesses picking up

Paris. Accor's business is picking up in all countries and business fields: Accor's consolidated revenue rose 8.4% to 3,690 billion Euros in the first six
months of 2006. At constant scope of consolidation and exchange rates, the increase was 6.0%. Business expansion accounted for 3.6% of growth while asset disposals had a negative impact of 3.4%.

HI+Crisis increases

Augsburg. The results 2005 of German Dorint AG show critical figures: Following an annual net deficit of 27.7 million Euros in 2004, the figure published in this year's report stands at -40 million Euros. The result means that since 2002 the annual net deficits stand at 148.1 million Euros. The state of affairs is even more bitter when one takes into account that turnover, both for the group as well as the plc, has increased. The Dorint Chairman was candid, leaving no doubt that the present situation endangers the existence of Germany's largest hotel company. The report: "The liquidity requirement of the company and the group is covered only till the start of 2007."

HI+Hapimag and profit

Basle. The star is rising again: Switzerland's Hapimag plc., leading provider for holiday home renting, has announced profits of 1.6 CHF for 2005 in its consolidated annual report. In the previous year the figure stood at -11.5 million CHF.

HI+The rate is still the problem

Frankfurt/M. The Steigenberger Hotel Group has concluded its fiscal 2005 with a positive, but significantly lower result compared to the previous year. The consolidation is taking effect; occupancy is rising again; the room rate, however, went down by another 30 cents in the whole group.

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