In a dynamic industry like hospitality, staying ahead requires a keen eye on emerging trends and a commitment to innovation. Recent developments in the European hotel market underscore the importance of adaptation and foresight in maximizing returns and ensuring sustainable growth.
Market Insights: Key Trends and Challenges
The recent partnership between the Cornell Hotel Society France Chapter, AAIMHI - IMHI Alumni Association, and ESSEC Alumni Club Travel led to an interesting event titled "The French hospitality landscape past, present, future?" This Roundtable discussion featured industry experts including, Adrien Lanotte, Senior Market Researcher at MKG Consulting, Willemijn Geels Vice President Development Europe in IHG Hotels & Resorts, Laura BEN-IBGUI, Executive Vice President - Head of France - Hotels Capital Markets, JLL France, Gabriel MATAR Managing Partner in SENTINEL HOSPITALITY, and Philippe Rossini Deputy Hospitality Portfolio Manager in SwissLife Asset Managers France, providing valuable insights into the French hospitality market.
Adrien Lanotte, initiated the event by providing insights into the current landscape of the French hotel market. Despite the challenges posed by the pandemic, France has demonstrated remarkable resilience, closing the year of 2023 with a 22% increase in RevPAR compared to pre-COVID levels. This outperformance, which was notable throughout all segments, from luxury to budget, reflects the country's recovery and underscores its attractiveness to both leisure and business travelers.
What are the key questions that has been constantly driving the market? Is it pleasure? Is it business? How is corporate getting back? - Adrien Lanotte, Senior Market Research at MKG Consulting
Navigating Uncertainty: The Impact of Regulations and Market Dynamics
Gabriel MATAR, shed light on the role of asset management and strategic advisories in protecting owners' interests. Matar emphasized the need for tailored approaches in asset management, considering factors like location-specific demand and regulatory compliance.
These are two different words. One of them goes much faster than the other, which is the guest. The guest is booking, the guest is social media reputation, the guest is behavioral generation and the others are regulation. - Gabriel MATAR Managing Partner in SENTINEL HOSPITALITY
ESG Integration: A Paradigm Shift in Hospitality
As sustainability takes center stage in the hospitality industry, stakeholders should align their strategies with Environmental, Social, and Governance (ESG) principles. Willemijn Geels, Vice President of Development Europe at IHG Hotels & Resorts, emphasizes the growing importance of ESG criteria in driving consumer preferences and corporate partnerships. From individual travelers to corporate clients, the demand for sustainable practices is reshaping industry norms and investment priorities.
So it's really about how we work together to face this in the most efficient way, and it's coming faster than we think so we have to do it now.- Willemijn Geels Vice President Development Europe in IHG Hotels & Resorts
Across our brands portfolio we have the same base - line. The brand that would stand out a little bit is voco, because we created it years ago with sustainability in mind. - Willemijn Geels Vice President Development Europe in IHG Hotels & Resorts
Laura BEN-IBGUI, provided insights into hotel deals and renovations.
A big part of the renovations has been done during the COVID period. Covid and the closure was a good opportunity, for the hoteliers to renovate their hotels.- Laura BEN-IBGUI, Executive Vice President - Head of France - Hotels Capital Markets, JLL France
Philippe Rossini, Deputy Hospitality Portfolio Manager in SwissLife Asset Managers France, provided insights into the dynamics of transactions and he highlighted that there are two kind of markets within the industry concerning the transactions: The institutional market and the secondary market.
IMHI ESSEC Triumphs at HAMA Europe 2024 Competition
Furthermore, the accomplishment of five IMHI ESSEC students in winning the competition organized by HAMA (Hotel Asset Management Association) Europe 2024 is noteworthy. The competition, which spanned four months, showcased the students' expertise in asset management, focusing on a hotel in Poland and integrating ESG considerations.
Image created with DALL .E
