Dear Insiders,
Let's start with the most positive news this week: There is a vaccination on the horizon. This gives hope, it is a little light at the end of a long and dark tunnel. The governments, however, are still caught up in the darkness when it comes to Germany, Austria or other countries. They prefer to inject their people with money instead of using their intellect. Today's governments are not really interested in the consequences of their monetary mass injections. Next time, they will not be elected again – or maybe only by a slim margin. Just like in the US.
The harsh and dishonourable election campaign in the US shows clearly how important it is to hang on to democratic pillars and to follow constitutional rights… My interview last Friday with Prof. Stephan Gerhard about basic rights in Germany could not have been more appropriate. I received many motivating comments on this, and our LinkedIn post was shared several times as well. Thank you very much for your moral support!
Therefore, it is all the more painful that the German government wants to prohibit the hotel industry and gastronomy from exercising their profession in an almost dictatorial way these days. The planned "adaptation" of the Infection Protection Act provides for the prohibition of all kinds of travels. This calls for action at the Federal Constitutional Court. Or at least for a letter to the Federal President.
Dorint Hotels' Chairman of the Advisory Board, Dirk Iserlohe addressed to the German President yesterday asking him to review the violation of basic rights with respect to the hotel industry. He asked Frank Walter Steinmeier to exercise the substantive right of examination to which the Federal President is exclusively entitled in evidence cases. It will now be interesting to see whether the tireless fighter for the industry will be heard.
The most positive aspects of this edition: The luxury hotel industry slowly understands that the business can evolve only around people in the future as well as new and old values – and everything 24/7. Today, Sylvie Konzack has pushed the "Reset of values". The meaning of this and how the segment copes with the crisis will be presented to you step by step in the course of the next few weeks in interviews with top executives from luxury hotel groups.
The most frustrating thing in this edition: Nearly everything is about corona – again. Fred Fettner summarised the capital injections of the Austrian government under the title "Overstretched and overburdened". In addition, we address the November Aids in several news items as well as the increasing confusion in the entire industry.
More pleasant: The investors' demand concerning properties and concepts for temporary living remain quite stable. Amongst others, Union Investment co-initiated this study.
And Union Investment cooperated with us at the hospitalityInside Investment BAROMETER for the 8th time this fall. The surveyed people still give the asset class hotel a chance, as long as it is able to present a diversified portfolio, creditworthiness and agreements with Upside/Downside character. You will find the summary on our page 1; our subscribers will find more information in the magazine.
Hang in! Until next Friday,
Yours, Maria Pütz-Willems
Editor-in-chief
Your opinion? maria[at]hospitalityInside.com
