Global Hospitality Report (November 24, 2014)

Market Pulse: Hungary 
By Nikolas Pavlidis

This article summarizes the recent tourism trends in Hungary.

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Market Pulse: Manama, Bahrain  
By Amir Lababedi and Hala Matar Choufany

Despite a troublesome couple of years, hotel market conditions in Manama appear to be recovering. This article provides an insight into Manama’s hotel market, its recent challenges and the outlook for the future.

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In Focus: The Hostel and Budget Traveller Market in Europe - Gaining Momentum 
By Christof Bertschi and Harry Douglass

The vibrant limited-to-select service hotel sector is at the forefront of the property market.

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CHICOS Claims Caribbean Remains a Positive Market in Terms of Hotel Performance 

The Caribbean remains a positive market, as far as hotel performance is concerned - and it will be for some time to come, according to Parris E. Jordan, Chairman, Caribbean Hotel Investment Conference & Operations Summit (CHICOS) and Managing Director of HVS’s operations in the Caribbean. The region still is a great market for future hotel investment opportunities. Capital is available and the South American visitor is boosting Caribbean tourism.

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Impact of Hong Kong Protests 

Sun Hung Kai Properties Ltd reported that revenues for 16 of their properties are on an average 5% - 10% below expectations for September and October. While the impact of these protests is mild at present, bookings have declined in the subsequent months as compared to last year. On November 17, a court order that the police carried out to clear a small part of a pro-democracy protest site, met with no resistance from the protesters. Although, the long drawn protests have had an adverse impact on the tourism industry, this finally appears to be coming to a close.

HVS APAC HOSPITALITY NEWSLETTER.
New Owner for Radisson Amsterdam Development 

Carlson Rezidor Hotel Group has announced that its Park Inn by Radisson Amsterdam development in the Netherlands has a new owner. A European-Israeli investor group has acquired the building from the German Europe 1 Fund for an undisclosed sum. The 478-room hotel is being developed in a former office complex and construction is due to start this month. The hotel, which will be part of a mixed-use scheme also containing retail and entertainment facilities, is scheduled to open in 2016. “This transaction reflects our pro-active and collaborative approach with our partners and business stakeholders…By providing investment opportunities and business solutions, we endeavour to add value and mitigate risks to all parties involved,” commented Elie Younes, Sr. Vice President and head of group development at Rezidor, and HVS alumnus.

HVS EMEA HOSPITALITY NEWSLETTER.

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