Analysis

plus

What future for hotel real estate transactions after the crisis?

7 min reading time

Published on 09/01/08 - Updated on 17/03/22

Until summer 2007, all was for the best in the best of worlds. When hotel groups downsized their real estate investments, they found solid partners. Investors, be they speculative or long term, institutional or opportunists, all showed a healthy appetite when it comes to participating in hotel development worldwide. They either buy the properties, or bring in capital to ensure a leverage effect through debt, or buy shares in the capital of the most dynamic groups. In this way Morgan Stanley doubled its investment with the buyout of ANA hotels in Japan in 2007, and then ten Hiltons in Europe last July.

 With a penchant for upscale properties, the American bank thus owns a hundred or so hotels and 40,000 rooms for a value of 15 billion dollars. At the same time the investment bank entered into the capital of NH Hoteles in Spain and Motel 168 in China. The paroxysm of this trend was reached with...

This content is for subscribers only. You have 80% left to discover.

Every week, the HON team brings you an expert look at the world of hospitality.

By becoming a member, you will have access to a complete ecosystem: exclusive content, jobs, etc.

BECOME A MEMBER

Already a member ?

For further

Every week, the HON team brings you an expert look at the world of hospitality. By becoming a member, you will have access to a complete ecosystem: exclusive content, jobs, etc.

BECOME A MEMBER

Sign up to add topics in favorite. Sign up to add categories in favorite. Sign up to add content in favorite. Register for free to vote for the application.

Already signed up? Already signed up? Already signed up? Already registered?