Global Hospitality Report (November 21, 2016)

South Korea Overview | Focus: Seoul Hotel Market  
By Jae Hyun YOO and Daniel Voellm

This article analyses the overall South Korean tourism market - its current status and future outlook, featuring a focused hotel performance and forecast analysis for Seoul, the capital of South Korea.

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Las Vegas Casino & Hotel Market Outlook 2016 
By Shannon Okada, MAI and Bomie Kim

Las Vegas received more than 42.3 million visitors in 2015, an all-time high. Year-to-date data points to a new high this year. Diversification in the area’s attractions, however, brings a shift in how visitors spend their dollars in the city.

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HVS Releases Fall Insights into Hotel Transactions Market in the U.S. and Canada 

Our  most recent survey reports the latest in hotel capitalization rates, multipliers, and key investment metrics for the U.S. and Canadian hotel transactions market. U.S. and Canadian hotel brokers report a rise in capitalization rates among the following four categories of hotels: luxury and upper-upscale, full-service, select-service, and limited-service and economy. Transactions today versus one year ago are being influenced by greater attention paid to new supply, PIPs, and replacement costs. On average, marketing times have become longer for luxury and full-service hotels versus the select-service and limited-service sectors, reflecting the complexity of these deals and the time required to bring all minds together on key deal points. Selling expense ratio, when compared to total sale price, remains lowest for the luxury and upper-upscale category. The HVS Fall 2016 Broker Survey presents these and more results from top hotel brokers.

ORDER THE SURVEY REPORT HERE.
Pandox to Acquire Seven Hotels Across Europe from Invesco 

Pandox has signed an agreement to purchase a portfolio of seven hotels across Europe (totalling 1,744 rooms) from Invesco Real Estate for €415 million (approximately €238,000 per room). Four of the hotels are in Germany (the 158-room NH Frankfurt Airport, the 129-room NH Collection Hamburg City, the 393-room Radisson Blu Cologne and the 236-room NH Munich Airport, which marks the group's entry into the Munich market). The remaining properties see Pandox expand into new countries with two hotels in Austria (the 499-room NH Vienna Airport and the 140-room NH Salzburg City) and one in the Netherlands (the 189-room Park Hotel Amsterdam). The transaction is expected to close before the end of the year. “The acquisition fulfils all Pandox’s strategic criteria regarding size, location, market position and profitability, as well as contributes to a further diversification of our revenue base,” noted Anders Nissen, Pandox’s chief executive officer. HVS advised Pandox.

HVS EMEA HOSPITALITY NEWSLETTER.
Rosewood Hong Kong to Debut in 2018 

Rosewood Hotels & Resorts will debut its first property in Hong Kong in 2018, in a prime Victoria Harbor waterfront location at the former New World Centre on Salisbury Road in Tsim Sha Tsui.. The 398-key ultra-luxury hotel will occupy 27 floors of a multi-use tower owned by New World Development Company Limited. Rosewood Hong Kong will offer eight dining options, an executive club lounge, meeting and event spaces, a fitness center, and a swimming pool. Additionally, the 199-room Rosewood Residences will be located on the top 19 floors of the tower and will provide luxury accommodations for longer stays. Guests will have access to a dedicated lounge, an indoor swimming pool and a fitness center, along with special services and amenities for residents.

HVS APAC HOSPITALITY NEWSLETTER.

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