An overwhelming majority (83%) of hotel investors are optimistic about the mid-term future of the hospitality industry. That’s according to a survey of top hotel sector investors and operators polled at an Ernst & Young hospitality sector workshop held in London recently.
Approximately 60% of respondents to the survey believed that hotel transaction activity in the Eurozone would increase “significantly” this year with the overwhelming emphasis being on gateway cities such as London, Frankfurt, Paris and Brussels.
And, according to Ernst & Young’s recent report Global Hospitality Insights: Top thoughts for 2013 (GHI), while access to financing is still difficult in many markets around the world, new project announcements have risen to their highest level in 18 months. This reflects the cautious but growing optimism among investors and hotel brands in the trajectory of the global economy.
Delving further into the financial aspects of the industry, GHI says the hospitality industry will be shaped by an emphasis on controlling costs at all levels of the business as well as optimizing capital. This could mean continued scrutiny of maintenance spending and the re-evaluation of capital improvement projects, as owners decide where best to invest limited resources. Read More
Published in: http://ehotelier.com