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News & Stories
12th International Hotel Investment Forum Berlin: Whispers & opinions
20.3.2009
Berlin. The 12th International Hotel Investment Forum, the hotel investment community's annual jamboree, took place last week at the Berlin Intercontinental Hotel. The talk of the town was how long the current recession will last, coupled with confidential whispers everywhere about how people are 'really' doing. Attendees predictably for a conference costing in excess of over 2,000 Euro per entrance pass were down on previous years, 1,550 compared with 1,850 last year. No doubt, participants benefitted from the slightly less crowded atmosphere in the InterContinental Hotel compared with previous years. A summary of the sessions.
Switzerland: Changes to lump-sum taxation could also affect hotels
13.3.2009
Zurich. Alongside Switzerland's secretive banking laws which have come under fire from many fronts of late, the right of lump-sum taxation for rich foreigners has now also been questioned. Following a referendum in Zurich, this privilege will be revoked as from 2010 in the Swiss capital. Opponents of lump-sum taxation in other cantons have drawn strength from the move. Should this prevent rich foreigners moving to Switzerland, the Swiss luxury hotel industry is also likely to be affected. Many hotels were and continue to be financed by means of luxury apartments in or in the vicinity of the hotel.
20.2.2009
Frankfurt. The 40th fund launched by the Danish real estate investor Euro Ejendomme will be administered and controlled in Frankfurt. It is the first institutional fund to be set up by the company in Germany. The plan to offer such a fund for subscription was announced as far back as October last year; now, details have been published.
20.2.2009
Moenchengladbach. Since January, NewGen AG, Moenchengladbach, has been under transaction. Now, the company remaining out of the failed takeover of Dorint Hotels by Accor S.A. has started the squeeze out finally.
Feri Symposium: Hotels remain a popular nice product
13.2.2009
Munich. Initiators of closed German real estate funds are returning to simplicity. For a long time, more risky constructs such as opportunity funds and project developments were popular; now, the classical real estate funds with portfolio real estate are entering market again. This development became obvious at the "Feri Symposium der Beteiligungsmodelle 2009" in the Kempinski Airport Hotel Munich last week. Hotels could move into the focus of investors again. In the past, this was not always the case. However, exotic products remained attractive as nice products among real estate investments.
Funds Initiator August Jagdfeld struggles with more and more problems
13.2.2009
Berlin. The German funds initiator, Anno August Jagdfeld, still likes to paint himself as an optimistic visionary, even in times of economic difficulty. Above all, his glamorous real estate properties are dear to his heart and of these he feels especially close to the Grand Hotel Heiligendamm. Yet after Kempinski surprisingly decided to terminate its contract for the Grand Hotel last week, a whole era for the "Pearl of the Baltic Sea" and its comfortable existence in the middle of nowhere seems to be over. Anno August Jagdfeld now intends to take matters into his own hands and to polish the hotel into a new diamond - just like to old family led luxury hotels. Yet it won't be as simple as he imagines his task to be. Jagdfeld's empire is crumbling considerably in other areas too. Could the break with Kempinski herald the beginning of the end for Jagdfeld?
23.1.2009
Berlin. Design Hotels AG announced a few days ago it will suspend the continuous trading facility for its shares on Xetra from 1st February 2009 till further notice.
19.12.2008
Hamburg. Budget hotels are profitable even in times of economic crisis. And it's for this reason that they're increasingly attracting the attention of real estate funds. A Hamburg based fund has recently issued a "budget hotel fund".
Swiss hotel industry and the financial crisis: Foreign guests tighten belts
12.12.2008
Berlin. After three fantastic years of boom, growth in the Swiss hotel industry is cooling. All the same, the word 'crisis' is still being avoided. Investments continue to be made and the current winter season is still looking good. Yet guests are saving money on food and drink. The hotelleriesuisse appeals to hoteliers not to fall into the trap of price dumping next year.
Austria: The winter is still humming - counter-cyclical consumption
12.12.2008
Salzburg. Austria's winter tourism will hardly be affected by the ongoing recession. This is what industry representatives of the Federal Economic Chamber, the Austrian Hotelier Association, Oesterreich Werbung and economists say unanimously in various ways. Experts speak of a "counter-cyclical consumption pattern". In the meantime, Austria's city hotels are already suffering from concrete effects. 