News & Stories
The last quarter of 2023 resurrected a sluggish Italian real estate hospitality market. From October to December, the overall 2023 investment value was around 58%, letting the total volume rise to 1.6 billion euros, involving about 10,000 rooms, and thus almost reaching the 2022 level.
Austrian operators who wanted to become investors made a huge leap of 41% in 2023. Nevertheless, the situation remains tense for all stakeholders. However, tourism demand is on the road to recovery despite inflation.
More and more owners and experts are concerned that the rising operating and ancillary costs are increasingly pushing up rents and lease payments - both for existing properties as well as for new builds, in the office sector and in the hotel industry. And now there's ESG too. But: Digitalisation offers potential savings on ancillary costs.
The large-scale investor Aroundtown has chosen to sell hotels out of its multi-asset portfolio to raise cash and reduce leverage. Several Center Parcs resorts are up for sale. Nevertheless, the hotel investments have held up better than that of the overall portfolio average.
The insolvency of Vienna-based Signa Holding has shaken the real estate and financial sector far beyond the country's borders. It could even become the largest corporate bankruptcy in Austria's history. But it is also about the future of cities that rely on investors like Renée Benko to lure department stores and hotels.
Globally and across all asset classes, the value of property has fallen by 50%. Nevertheless, some regions are maintaining their leading position despite the fall. The decline in the hotel industry was less dramatic.
Negotiators from the European Parliament and the EU member states agreed yesterday evening on stricter requirements for the energy efficiency of buildings in the fight against climate change.
It is one of the biggest hotel deals in Europe this year: LXi REIT announced that it is selling 66 of its 122 Travelodge hotel properties for a total of £210mn (€242mn). The sale has not yet been finalised. At the same time, Travelodge itself is about to be sold.
A lack of authority and resources, sluggish communication, impatience and a failure to achieve goals: digitalisation in real estate companies often fails due to the same stumbling blocks.
The market for commercial real estate has slumped dramatically in Germany this year. This also makes appraisals increasingly difficult: Reference values are missing. For hotels too, prospective buyers are still waiting sellers to adjust their asking prices. Valuation expert Birger Ehrenberg views the current panic mood from a healthy distance.