HOTEL OPERATOR BEAT - EUROPE 2023

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HOTEL OPERATOR BEAT - EUROPE 2023

Cushman & Wakefield,conducted surveys among leading hotel operators active in Europe (about 200 respondents), identifying the following key trends:

 

  • Major European cities continue to hold their allure – Urban markets in France, Germany, Benelux, and Turkey have experienced a surge in operator interest since 2021.
  • Promising outlook for luxury hotels and resorts - 85% of surveyed operators are optimistic or very optimistic about these two hotel types.
  • Financial impact of ESG - For properties with the highest environmental certifications, nearly 60% of operators that lease hotels would consider increasing the rent. Similarly, a substantial portion of operators would consider other concessions, such as reducing management fees and offering more key money.
  • Leading contractual trends – In addition to the ESG reporting clause, over half of the surveyed operators report an increasing trend of the Pandemic Clause in their new contracts. Other growing trends are key money provisions and operating guarantees. 
  • Since last year, hybrid and variable leases have been increasingly offered by 30% and 26% of the surveyed operators, respectively.

You can access the full survey results in our report.

 



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