Interview with Ronan Vaspart, Director of the MIPIM and Vanguélis Panayotis, CEO of MKG Consulting.
What is MIPIM about?
MIPIM is a world-leading event in the property market. It takes place since 30 years now in Cannes, France. It does represent a whole real state value chain from all countries and it is not only about property but it is clearly a whole built environment and also the showroom platform for the city and how property is integrating the city as well.
Can you present MKG Consulting?
MKG consulting advises most of the investors and operators whenever it concerns what I like to call “real state asset service”. It goes from tourism, hospitality and extending to senior residences or external stay property. We do it from valuation to feasibility studies for all those players of the industry.
Why did you choose to get closer to MIPIM? What are the targets?
It was the opportunity to discuss with Ronan on how we could bring together the operators from the hospitality industry within the cluster of players in the real state and metropole area. I think the industry has clearly made a shift in the last decade. Before, we used to have more integrated developments from the operators and nowadays we have a clear separation between the role and the players; going from who is owning the real state, who is in charge of the development, what impact in the territory and the metropole and who is going to operate which brands. So now we have to recreate somehow the value between each of the players, we have to help the industry to get together to that topic.
What are the targets getting closer to MKG Consulting?
In fact, hospitality is not completely new at MIPIM because we are working with the hospitality asset class since a few years ago. Definitely, this is an asset class which is booming in lots of countries and not only in France but in Europe, and also in other places everywhere in the world. Clearly, we want to extend our presence and to have much more stakeholders from the hospitality background attending MIPIM. It is not only hospitality or hotel operators, it is also cities, political leaders, investors, developers, the whole value chain. And clearly, it was common sense to get closer to a partner to work in this new hospitality forum that this Hospitality Summit will put together. That is the reason why it was good for us; it was quite relevant for us to work with Vanguelis and his team and with MKG Consulting.
What is the program for those 4 days? Could you share with us a few insights?
MIPIM is not focusing only on hospitality but in the whole value chain. That is the reason why among the twenty seven thousand people we welcome each year in Cannes, we have more than five thousand investors and financial institutions. Each year we have a main theme, we are a bit trans-sector and we want to use this opportunity to gather the whole value chain in order to think about some specific topics. This year the theme is “The future is human” and how human is impacting the evolution on the built environment and how it is more and more important to integrate needs. What expectations does the new generation have in terms of building new cities? Clearly, hospitality is one of the main asset classes where investors are interested to invest in and this investment is booming from one year to another. So that is the reason why we are extending the exhibition area, we are clearly creating much more networking events, something like twelve or fifteen conferences during MIPIM.
How will hospitality be addressed during the four days of the MIPIM?
In fact, hospitality will be nearly an event within the main event. In fact, we decided to have a clear focus because it is so well linked with the main theme, which is “The future is human”, and that is the reason why we decided to dedicate a new zone on the third front. It will be a new and bigger location with much more exhibitors that we used to have in the past. But one more time, the idea is not only to discover exhibitors, it is also to network with the entire community in order to people to get to know each other and at the end of the day to do business, because that is the reason why MIPIM exists.
How will MKG be involved during the event?
There are several activities in which we will have the chance to contribute and participate, but also during the Hospitality Summit we are the content partners. We are very happy to bring our in-depth analysis about the industry, but also with what I believe is very important for the future of our industry, is how we get education from both sides, the real state sector and the hospitality sector. They have to get together to better understand what is important for each of the parts to understand what are the new ways of developing and investing and also what are the new brands and new trends in our industry.
On a day to day basis, we are discussing and advising the investors and the territories, also governmental bodies and we understood clearly that this profile of assets that Ronan just mentioned being a mix between hospitality and commercial asset is the one who is offering the best performance in terms of return of investment of course, but also it creates a strong footprint and contributes to the attractiveness of the cities, to have something that is smooth in terms of investment, but also operations that are related to investments, is clearly something that creates a new layout of values for those players and we understood from the relationship we have with the investors, that now we have to chase a new era of added value creation when it comes to investment. Nowadays it has to resonate with what are the ambitions of the cities. So, clearly we thought that MIPIM being the prime real state event during the year, it was of clear importance to enlarge the footprint it has with the hospitality and we are very pleased to contribute to that.
What will happen at the Hospitality Summit Program? A closed door summit by invitation dedicated to the hospitality industry, meant to create an exclusive event for a high level networking and discussion.
Clearly, it is a by- invitation-only event, so we target senior executives with we will clearly work on developing the hospitality strategy and hospitality sector in the coming years. It does mean that we have investors, developers, architects, and hotel operators as I was mentioning before. We will open this Hospitality Summit thanks to a keynote provided by a really famous architect who works lots in the hospitality sector, Mr. Philippe Starck. So we are really pleased to welcome Philippe and I am sure his insight widely important to the entire audience. Then we will have European CEO Panel from hotel operators to be able to clearly share with the audience what are the major initiatives for the upcoming years and how hotel operators can help booming the attractiveness of the cities as well. Because it is not only creating hotels, it is also boosting employment, creating new opportunities within a city. And last but not least, we will have some table discussions around different topics like how cities create the right conditions for hoteliers or our co-branded hotels have a new frontier in experiential retail. The entire audience will be able to provide their insights and share ideas and of course to make decisions.
MIPIM - The world's leading property market
? 10-13 March 2020
? Palais des Festivals, Cannes, France
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