Issue 2572 - 12 November, 2020

    Amsterdam still on top

    For the fifth year running Amsterdam is Europe’s most attractive city for hotel investment, according to Deloitte’s latest sentiment survey. Three quarters of those surveyed expect to see distressed activity in the first half of 2020. Investors are favouring serviced apartments ahead of hotels, while hostels have fallen largely off the radar. Respondents expect a [...]

    HIP Greek focus

    Blackstone-backed Hotel Investment Partners is looking to invest further in Greek hotels. CEO Alejandro Puértolas told Kathimerini the group is aiming for market leadership. Currently, HIP has 64 hotels around the Mediterranean. It recently hired KKR subsidiary Apple Leisure Group to manage three newly acquired hotels in on Crete, Corfu and Zakynthos. Read the full [...]

    Improvement for Minor

    Core revenues were down 50% at Minor International in Q3, with revpar down 67% at owned and leased hotels. All regions saw performance improve, compared with the previous quarter. Managed properties in Australia and New Zealand were the strongest performers, with 64% occupancy. The Thai portfolio was the weakest performer, as the country remains closed [...]

    NH cuts losses

    NH Hotels lifted revenues to EUR148m in Q3, up from a low of EUR30m in the previous quarter. Cost cutting has reduced the cash burn to EUR25m per month. Average occupancy was above 40%, while 75% of group hotels had reopened. Liquidity was EUR485m at the end of the quarter, after a revolving credit facility [...]