Mixed-use projects expand to emerging markets

From Kazakhstan to Abu Dhabi to Makkah, emerging markets throughout the globe continue to be hot targets for the biggest players in the global hospitality sector. This expansion often includes the combination of a hotel or resort with branded, full-ownership residences operated by the hotel manager. While these types of mixed-use projects are commonplace in many North American cities and resort areas, their presence in other parts of the world is relatively novel.

The proliferation of hotel-branded residential projects is driven in part by the robust economic growth of natural-resource rich emerging markets and the resulting wealth creation this has brought. The logic follows that as these markets continue to open and expand, the demand for high-quality hospitality products, often at the luxury and ultra-luxury end of the market, will grow. This demand is coupled with a desire to associate the project with well-known global hospitality brands.

Despite this strong logic, emerging markets pose meaningful structural risks to stakeholders involved in the development, financing, management and operation of hotel-branded residential projects. These structural risks flow from the common reality in emerging markets that local laws/regulations necessary to govern a hotel-branded residential project might be under-developed, untested or entirely nonexistent. Read more

Published in: http://www.hotelnewsnow.com

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About RezNext

RezNext is the world’s only true Real-Time Distribution Management Solution provider. It empowers hotels to adopt a distribution strategy that simplifies the complex global distribution environment and makes it understandable and manageable. It is integrated with revenue management, operating intelligence and powered with reputation management insights. RezNext’s portfolio of offerings include Rate & Channel Manager, Revenue Management, Online Reputation Management, Website Designing and Web Booking Engine, Mobile solutions, Central Reservation System, Business Intelligence, Property Management System (PMS) two-way connect, GDS and OTA Interface and Loyalty & Feedback Management. Our growing range of solutions can be access by hospitality properties across market segment and size, such as independent hotels, chain hotels, business hotels, resorts, clubs, service and limited service apartments, spas, restaurants and others.
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