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Top thoughts for 2014 - Global hospitality insights.
Monday, 20th January 2014
Source : Michael Fishbin & Howard Roth - EY
 

Following years of a slow and stubborn recovery, the global hospitality sector entered 2013 with a strong appetite for growth -

Building on momentum gained in the prior year, renewed investor confidence and pent-up demand for trades propelled growth within the global lodging sector, fueling an increase in transaction activity and worldwide improvements in hotel operations.

4Hoteliers Image LibraryAfter years of facing constrained capital budgets, hotel owners refocused investment in their portfolios to maximize growth in occupancy and rate. Across the globe, significant improvements in lodging fundamentals also captured investor attention, signaling renewed assurance in hotel investments.

Furthermore, increased transaction activity, including the re-emergence of IPOs, was observed throughout the year for both single-asset and portfolio trades, primarily driven by active global capital markets and heightened investor sentiment for deals.

Despite vast improvements, the industry continued to face certain key challenges over the course of 2013 that threatened hospitality performance across the globe: governmental interruptions and rising debt levels in the US,  constrained capital markets in Europe, the threat of violent political events in the Middle East and Africa, and slowed growth momentum in select Asian economies.

Even with these external challenges, an undeniable vigor emerged within the lodging industry during 2013,  positioning the global sector for further growth in upcoming years.

In 2014, the investment and optimization of capital will remain top of mind for industry players. Investors will continue to gain access to a variety of capital sources across debt, equity, public and private platforms.

Acquisitions in gateway international cities will continue to remain top-of-mind for investors, but a renewed interest in secondary and resort markets is positioned to gain traction in the short term. Cross-border capital flow, led by conglomerates, family businesses and state-owned enterprises in the Middle East and Asia, is also anticipated to increase as international investors seek portfolio diversification and prime assets in stable economies.

The lodging industry will continue to react to an emerging group of guests, including the Millennial generation and a new wave of Chinese tourists, by offering targeted products, services, amenities and designs that cater to generational and cultural preferences.

As both leisure and business travel increases around the globe, destinations must continue to effectively implement their tourism strategy, as well as invest public funds to improve the accessibility of public transportation available to tourists. Furthermore, rich opportunities in developing lodging markets will continue to attract the attention of major lodging players, prompting an increase in international expansion via both acquisition and development.

We are excited to present this year’s edition of Global Hospitality Insights: top thoughts for 2014. The report reveals key issues and trends we believe will be the primary areas of focus in the global hospitality industry in the upcoming year.

Full story

Michael Fishbin, EY Global Hospitality & Leisure Leader
Howard Roth, EY Global Real Estate


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