GHN THOUGHT LEADERSHIP: Mark Sparrow, Executive Vice President, JLL | Hotels & Hospitality Group
"Over the past five years, Canada has been a tale of consistency. With supply relatively in check across the country, outside of a few specific markets in the prairies, and demand increasing at a strong clip, we have witnessed strong growth across the country. Along with strong operating results, Canada has continued to see increased demand both locally and internationally for quality real estate product in the major markets which had led to pricing escalation in line with key global cities around the world. In turn, local demand has been challenged to find product in their backyard, pushing their search beyond their typical geographic boundaries and entering new secondary markets and/or markets outside of their regional hubs in search of yield." MORE
Dr. Robert Harp
This week's GHN Executive e-Brief (exclusive to GHN Members) includes a GHN Thought Leadership column by AH&LA CEO Chip Rogers and a GHN Market Watch Report on hotel investment in the MENA region by Colliers' Christopher Lund .
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GHN THOUGHT LEADERSHIP: William "Chip” Rogers, President & CEO, American Hotel & Lodging Association
GHN THOUGHT LEADERSHIP: Christopher Lund, Head of Hotels at Colliers International (Middle East & North Africa)
"The GCC markets have seen an increase in development over the past few years due to government mandate for long-term economic diversification which has been the basis for the hotel sector expansion plans. Hotel owners and operators should expect to benefit from various projects in the GCC that the respective governments are backing to attract more travelers.Furthermore, the more relaxed visa access as well as the growth of the religious and leisure market are expected to drive the demand for international travel in the region. KSA in particular has seen a 4% increase in inbound tourism and is expected to experience a further increase of 4% by the end of the year. The steady rate of growth of inbound tourism is projected to continue for the next decade up until 2030." MORE
"As the singular voice of the hotel industry, AHLA is committed to combatting human trafficking. Unfortunately, trafficking networks rely on legitimate businesses such as hotels to sustain their operations and exploit victims. AHLA and the hotel industry are identifying best practices and providing new educational resources and training tools to bolster the industry’s response, and in June we convened a new thought leadership group to advance this cause even further." MORE
GHN THOUGHT LEADERSHIP: Robert McIntosh FRICS FAPI | CPV | RICS Registered Valuer | Executive Director CBRE Hotels | Asia Pacific | Valuations & Advisory Services
"The appetite for hotel investment or development varies by the requirements of the individuals and the sources of capital. There are some mega trends in Asia Pacific however that are having serious impacts. These include the difficulty that many mature markets have in increasing room rates for the last few years, particularly Hong Kong and Singapore, the reduction in yields and changes in supply. For those who like strong, stable and internationally attractive markets, initial yields can be as low as 3% in Singapore and Hong Kong. However obtaining properties to purchase or develop is very difficult." MORE
