In a macro-economic context featuring several challenges including political uncertainty, rising interest rates, a surge in development costs and ESG-related pressures, the hospitality industry has shown great resilience with numerous signs of a well-engaged trading recovery. At an industry day hosted by Glion Institute of Higher Education London for its MSc Real Estate, Finance and Hotel Development students, an expert panel drawn from hotel development and investment, consultancy and valuation, and industry trading data analytics explored the ease of raising financing for hotel development.
In light of the tumultuous global challenges which have dramatically affected the hospitality industry, now more than ever we need to fully understand the reality of developing properties in international contexts. For owners, developers, investors, managers and other professionals involved in hotel development and investment, the operating environment has shifted to such a degree that as we begin 2023 we need to consider how to respond to the latest challenges. For every challenge, however, there is opportunity. Here are six opportunities for global hotel development projects.
Mark Britton Jones, Consultant Faculty at Glion Institute of Higher Education s London campus, attempts to answer a question on which the health of a multi-billion dollar market depends – what is luxury going to look like a decade from now?