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Taking Stock of Hotel Investment & Development in German-Speaking Markets operator, the focus of AccorHotels has by and large shifted toward investment and a separate operations company. 2017 will bring many changes in this regard. Broken down into the regional markets and real estate activities of last year, Fabien Valentin, COO HotelInvest Central Europe at AccorHotels, said: “The transactions in the hotel markets of Germany, Austria and Switzerland remained at a high level in 2016, espe- cially in Germany, and independently of single or portfolio deals. Despite a lower rate of return, demand was strong, especially in key cities such as Munich, Berlin, Hamburg or Zurich.” In Germany, in 2016, AccorHotels opened two economy hotels of the ibis brand (a total of 235 rooms), three hotels of the ibis Styles brand (295 rooms) and two hotels of the ibis Budget brand (327 rooms). Within the HotelInvest portfolio, AccorHo- tels transacted four purchases in the economy segment (three in Germany, one in Austria) and two sales (both in Austria). GERMAN CREATIVE CONCEPTS BOUGHT AWAY In 2016, AccorHotels made headlines, in particular, in Germany, because of the purchase of the lifestyle group 25hours Hotels (€34.7 million for a 30-percent-share with the option for more). In January, the Rezidor Group had already done the same thing: It purchased prizeotel and paid €14.7 million euros for 49 percent with an option for a take-over later on. 25hours’ CEO Christoph Hoffmann said this about the group’s “special” year: “On a shareholder level, we found a globally acting, strategic partner with AccorHotels, which will support our expansion and grant us the entrepre- neurial freedom to keep developing our projects in our atypical and sometimes even adventurous way. The first step in a country with a foreign language has already been taken with the signing of a manage- ment agreement for the Terminus Nord Hotel in Paris last December, which will open its doors as 25hours in the middle of 2018. We are eagerly examining projects in other urban destinations such as London, Milan and Los Angeles.” The hotel in Paris is the current Mercure hotel. This way, the property remains within the AccorHotels family. Marco Nussbaum, CEO of prizeo- tel, also described 2016 as a “very special year” for his hotel group. He attributed Rezidor’s interest in his small group to the fact that “prizeotel is a highly innovative product” with a concept developed by the international designer Karim Rashid, with whom Nussbaum has had an exclusive agreement for the expansion in the German market from the beginning. Rezidor has now extended this agreement to an international level. “The brand has been chosen deliberately in order to enable international expansion, and with this star designer, we not only distinguish ourselves from other products, but polarize as well. Through flat hierarchies and an authentic business culture, Rezidor bought into a company, which never could have been designed on the drafting table of a corporate head office,” said Nussbaum. MADE IN GERMANY, LOCATED IN GERMANY This is the new self-confidence in the German hotel industry. “Made in Germany” has a meaning again, just like “Located in Germany.” Someone who senses this as well is another hotelier. In 2016, David Etmenan, CEO of Novum Hotel Group, became a talking point. The business, which was founded by his father in 1998, has grown substantially since 2000, from originally 12 hotels and 560 rooms to 122 hotels and more than 13,200 rooms at over 35 locations in Europe, among them, 119 hotels with 12,892 rooms in Germany. In the home market, it wants to expand with its own brands; outside of Germany, it wants to be franchisees of InterCon- tinental Hotels Group, Best Western Hotels & Resorts and AccorHotels. For some years now, Germany has been able to tell a remarkable hotel story. Last year, many of these stories were continued. The signals sent by this great dynamic are the following: The new, fresh, young momentum in the market coupled with the great demand and capital from international investors will become critical for all tired, old hotels, which are no longer able to compete and, as a result, will no longer get their share of this growing business cake. GROWTH IN TOURISM In the first six months of 2016, 199.2 million overnight stays of national and international guests were recorded, an increase of 3 percent compared to the same period in the previous year, according to the Federal Statistical Office. The German Hotel Association (IHA) additionally provided its “summer economy barometer.” According to this, all hotel-specific key parameters were able to generate growth in all 8 HOSPITALITY INSIDE | IHIFPDF Image | Burgenstock Taking Stock of Hotel Investment
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