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Hôtellerie 14 mai 2018

Arrivée de Soazig Drais au poste d’Associate Director Consultancy & Valuation

Soazig a pour mission principale d’encadrer et de développer l’activité Conseil tant en France qu’en Italie et en Belgique. Les investisseurs nationaux et internationaux pourront s’appuyer sur ses compétences et son professionnalisme pour définir et analyser leurs projets de d...

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Hôtellerie 10 avril 2018

Christie & Co France publie une collection d'études sur les marchés hôteliers des villes régionales

La spécificité des études de Christie & Co, spécialiste en immobilier hôtelier, réside dans l’analyse du parc hôtelier et de ses performances ainsi que d’un ensemble de signaux qui conditionnent le succès d’une agglomération. Aussi, le portrait de chaque ville prend en compt...

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Hôtellerie 04 avril 2018

Le marché hôtelier dans les villes secondaires d'Espagne

Dans la lignée des rapports déjà publiés sur les villes les plus compétitives en Espagne et au Portugal, Christie & Co propose une étude spécifiques sur les villes secondaires en Espagne qui présentent un réel potentiel en termes de performance. À partir des chiffres du "Ba...

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Hôtellerie 15 mars 2018

Le marché hôtelier en Allemagne

Christie & Co vient de publier une présentation du marché hôtelier allemand avec une analyse des 6 villes clés du pays : Berlin, Munich, Francfort/Main, Hambourg, Cologne et Dusseldorf.

The report, which references performance data provided by STR reveals that while performance of the individual markets may differ, as a whole the German hotel market is still prospering. For the eighth consecutive year we have seen an increase in overnights registered in 2017 than in previous years. RevPAR increased by 3% and was fuelled by both occupancy and ARR growth. The top German cities have become expensive terrain and both operators and investors have started to feel comfortable with secondary and even tertiary locations. 

With more than 500 properties, the hotel market of Germany’s capital Berlin is by far the largest in Germany. While the number of properties has not changed much over the years, the number of rooms has increased by more than 9%. Several hundred of rooms are expected to come online 2018, most of which will be in the Budget & Premium Economy segments. Between 2013 and 2017, arrivals and overnights have grown by 3.6% p.a. Visitors typically spend 2.3 days in the capital – longer than in any of the other analysed cities. The Air Berlin insolvency somewhat tamed Berlin’s growth in 2017, but the year still ended with a positive RevPAR growth of 2% to €74 and an increased ARR (€96; +2.3%).

The positive fundamentals of the Munich hotel market are demonstrated by demand growth outpacing supply growth. Since 2013, arrivals and overnights have grown by 26.4% and 24.7% respectively. Foreign guests made up about half of all overnights, the most important feeder markets being the USA, the Arab states of the Persian Gulf and the United Kingdom. Since 2013, the number of hotels and B&Bs has grown by 1.5% p.a. and 65% of all guest rooms are branded. The pipeline remains full, with over 2,000 rooms to be added in both 2018 and 2019. But the new supply is not responsible for the negative performance, as occupancy dropped by just 0.4%. The reason for the decline in RevPAR (€93; -4.2%) was the low performance of March, April and June due to the lack of rotating fairs.

Frankfurt/Main’s hotel market shows an above average performance growth with a RevPAR increase of 4.2% to €85, fuelled by increase in ARR by 3.1% to €123. The number of hotels and B&Bs has grown by 0.8% in total since 2013, while the number of beds increased by 20.6%, indicating the opening of few but large hotels. With 400+ rooms each, the largest additions to supply in 2018 will include the Motel One Kornmarkt Arkaden and the Steigenberger at the central station. Arrivals and overnights have grown by 24.6% and 26.4% over the last five years. Typical for a business destination, average length of stay is continuously rather short at c. 1.7 days.

There is a continuing success story for Hamburg‘s hotel market. Hamburg was not only the best occupied city (80%) in 2017, with rate increases of almost 7%, it also achieved the highest RevPAR of the top six cities with €95. The main performance boosters were the opening of the much awaited Elbphilharmonie concert hall as well as the G20 summit, which resulted in strong ARR increases. Since 2013, the number of hotels and B&Bs has grown by 9.2% and the number of beds by 16.6% which equals almost 30 hotels and more than 8,000 rooms. In the same period the arrivals and overnights have increased by 14% and c. 18%.


With a RevPAR growth beyond 11% to €86, Cologne has outperformed the other analysed cities by far. The main reasons for the strong growth have been the countless fairs in the city with increasing visitation facing limited supply. In the last five years arrivals and overnights have grown by 21% and 23%. As a popular congress and fair destination, Cologne displays a typical seasonality pattern with demand peaks in spring and autumn. Since 2013, the number of hotels and B&Bs have grown by 3.4% and the number of beds by 13.3%. The average number of beds in hotels increases from 112 in 2013 to 122 in 2017.

With more beds and fewer hotels, the same structural change in Cologne can be observed in Dusseldorf. As such, the number of hotels and B&Bs declined by 2.8%, while bed supply grew by 7.5% in the same period. Short-term pipeline is medium and expected openings in 2018 include, amongst others, the Ruby Coco and the 25hours Hotel Das Tour. Being a MICE-driven destination, Dusseldorf reacts very sensitively to a lack of congresses and fairs. The year ended with a decline in RevPAR (€83; -1.2%) caused by a lower ARR (€118; -2.4%). Only the occupancy increased by 1.2% to 70%. 

According to Christie & Co, the German hotel market is flourishing. All key performance numbers increased. At the same time inflation returned and reached 1.8%, which is almost on track with the European Central Bank’s 2% target. It remains to be seen whether increasing inflation will slowly take the pressure off the German hotel investment market.

Lukas Hochedlinger, Managing Director Central & Northern Europe at Christie & Co comments: “To date, both national and international investors’ and brands’ interest in the market remains strong. This has resulted in record-low yields and large supply waves. But the pipelines are still full and new concepts have also been announced, including the founders of Meininger launching “Schulz Hostels” later this year in Berlin. There are new brands, new concepts and a lot motion in the German hotel market, which will make the next few years interesting.”

Patrik Hug, Senior Consultant Advisory & Valuation Services, confirms: “Operators and investors have started to feel comfortable with secondary and tertiary locations, a prime example being Novum Hospitality with its “niu” brand, which it announced a year ago. With 40 properties signed one year later, the chain was not shy signing contracts in secondary cities and suburbs and other brands, especially international hotel groups, have acted less boldly.”
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Hôtellerie 13 mars 2018

Alexis Morcaut rejoint Christie & Co France au poste d’Investments Associate.

L’équipe de Christie & Co continue à se renforcer avec l’arrivée d’Alexis Morcaut au poste d’Investments Associate.

Alexis aura pour mission principale de développer l’activité VEFA et reconversion de bureaux en hôtels. Il sera également amené à travailler en support sur des portefeuilles ou des single assets pour le compte de clients Corporate sur les marchés français, italiens et belges, son pays d’origine. 

Alexis est diplômé de Grenoble Ecole de Management. Depuis 2016, il était analyste chez AccorHotels dans les équipes Asset Management France avant de rejoindre les équipes développement UK à Londres.

Alexis Morcaut est rattaché directement à Romain Gowhari, Managing Director France & Belgique qui précise : « Alexis jouera un rôle de catalyseur entre les propriétaires immobiliers, les promoteurs et les groupes hôteliers. En effet, il devra s’assurer de soutenir ces acteurs immobiliers à faire émerger des projets hôteliers en leur présentant des opérateurs ou des investisseurs ciblés. 

Rigoureux et très à l’écoute du marché, Alexis fait preuve d’un esprit novateur. Il est amené à tenir un rôle clé chez Christie & Co et vient consolider l’équipe, qui apporte une expertise inégalée aux acteurs du secteur hôtelier. La gamme de nos services s’élargit et répond aux évolutions du marché qui se présente très dynamique dès ce début d’année ».
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Hôtellerie 06 mars 2018

L'hôtel Elysée Etoile ** (75017) vendu par Christie & Co

Christie & Co France vient de finaliser la cession du fonds de commerce de l’hôtel Elysée Etoile situé rue de l’Etoile dans le 17ème arrondissement de Paris.

Cet hôtel d’une capacité de 18 chambres est idéalement situé à quelques pas de l’Arc de Triomphe et des Champs-Elysées. 

« L’hôtel Elysée Etoile fera l’objet d’un programme de rénovation ce qui lui permettra de passer en catégorie 3 étoiles », précise Yoann Vittoz, Head of Agency de Christie & Co France, en charge de cette transaction. « Cette vente prouve la confiance des investisseurs pour les actifs parisiens qui font toujours l’objet d’une demande très soutenue. »
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Hôtellerie 02 mars 2018

Christie & Co attending IHIF with keynote from Global Managing Director Chris Day

With the theme for this year’s conference ‘Reaching New Heights’, a key topic will be the growth of the market and new opportunities for investors through innovative technology, products and tools for building the hotel industry across the world.  Christie & Co, will be exh...

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Hôtellerie 16 février 2018

Christie & Co vend l'hôtel Timhotel Lyon-La Part-Dieu

Christie & Co annonce la vente des murs et fonds de commerce de l’hôtel Timhotel Lyon la Part-Dieu dans le VIe arrondissement. Cet établissement de 33 chambres classé 3 étoiles est situé en plein cœur du quartier chic des Brotteaux, à proximité du quartier d’affaires de la Par...

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Hôtellerie 14 février 2018

ESPAGNE : Hotel Investment Overview 2017

Christie & Co, international hotel property advisor, releases its analysis of hotel investment 2017, which denotes a new record year in investment in the sector in Spain with 3,900 million euros.

After the presentation in Madrid of the YTD report on December 19th, in which they estimated in 3,086 million euros the investment volume up to November 30th, Christie & Co publishes the full report, in which they share the estimated figure of hotel investment in Spain in 2017.

According to the data available to Christie & Co, the total hotel investment in Spain in 2017 was of 3,900 million euros approximately, in a total of 185 transactions, which represents an average price per room of 120,475 euros and an increase of 81% of the total volume of investment versus 2016.

In terms of investor profile, the report highlights the importance of investment firms as the largest source of capital in 2017, representing a 42 % of the total investment, with more than 1,300 million euros. Hotel companies, with a 20% of the total investment figures are on second place, and REIT companies close the podium with a 16%. Furthermore, regarding origin, 51% of the investment was from national origin, followed by US (23%) British (12%) and French (6%) investors.

The report also emphasizes how the investment estimated figure has been greatly increased by portfolio transactions and significant assets such as Blackstone's purchase of the HI Partners portfolio (630 million euros); purchase of Edificio España in Madrid by RIU Hotels & Resorts (272 million euros); the Meliá and Starwood joint venture bought by London & Regional (230 million euros); the “Bay Hotels” portfolio participation in Barceló and the purchase of the “Alua Hotels” portfolio by Hispania; or the Hilton Diagonal Mar Hotel purchase by AXA (150 million euros), among others.

The advisor also highlights how secondary destinations have arisen interest this past year, bringing together a 14% of the total investment, with 26% of the transactions. Cities such as Alicante, Girona, Lugo, Almeria, Lleida, Cádiz or Granada have received a strong investment appetite in the Spanish hotel sector due to, among other reasons, attractive investment returns in these secondary cities, a clear recovery in RevPAR levels and new trends in terms of demand.

Likewise, after some years in which urban destinations blunted in terms of investment volume, Spain continues to be a benchmark in the sun and beach segment. Vacational destinations have concentrated a 65% of the total figure, with the Canary and Balearic Islands gathering, by themselves, the 40% of the total investment in the country.

Finally, the analysis shows how almost the 90% of the transactions carried out in 2017 were concentrated in six Spanish regions (the Balearic and Canary Islands, Andalusia, Catalonia, Madrid, and the Valencian Community), regions that received as well the 91.7% of international tourists, something that can be considered a key factor for the demand concentration.

The report, which Christie & Co wants to carry out on annual base, concludes with a quick summary of the “2018 Outlook”, including what they consider key factors for the immediate future within the hotel sector, analysing it from an economic perspective and reviewing new trends and foreign factors that can affect it.

---ENDS--- 

For further information on this press release, contact, Meritxell Álvaro, Marketing Manager & Team Assistant, Christie & Co on +34 93 343 61 61 or meritxell.alvaro@christie.com
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08 février 2018

Autriche 2017 : investissements en hôtellerie et projets de développement

'The hotel investment market was characterised by several fairly minor transactions in the first half of 2017, but due to a number of larger deals materialised in the second half of the year, the overall result was above average for recent years, although well short of the re...

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