Whitebridge EMEA Hotels Monitor, Issue 24

The first six months of 2019 have provided some thought provoking events: Brexit was postponed (twice), the Gillet Jaunes ravaged Paris on a weekendly basis, tankers were holed or seized in the Gulf, Trump had tea with the Queen and Liverpool won the Champions League (again). Have the hotel markets of EMEA reflected these events? Not really.


Despite actions in the Gulf, Riyadh and Muscat witnessed RevPAR growth. The decline in Dubai is continually attributable to its chunky pipeline. Even in the face of worsening Brexit uncertainty, London and Edinburgh RevPAR grew (in euro terms). The Gillet of Paris could not dent its hotel market (with RevPAR growing by +1.2%). Other markets were less fortunate, whereby 7 of the 23 cities surveyed witnessed RevPAR declines (such declines largely unrelated to political events).

Trends in construction cost pressures are starting to vary across the region, with more subdued growth in Europe and increases expected in the island nations around Africa as more projects are pipelined and developed. Deals wise, there were plenty of corporate tie ups, quite a few portfolio sales and a good number of development transactions, but a lesser number of single asset deals compared to the same period last year.

We also note that the breadth of geographical locations in which deals have been reported is one of the widest for many a year. Interesting times.

About WhiteBridge Hospitality

Whitebridge Hospitality is a specialist advisor to investors, developers and operators in the hospitality industry around the globe. We provide investment, operational and planning advice, and guidance in respect of the entire hospitality spectrum, including: hotels, mixed-use developments, conference and exhibition centres, spas, leisure facilities, casinos, visitor attractions and sporting venues. Our uniquely qualified team can provide services throughout an asset’s life cycle, from site selection and acquisition, through master planning and feasibility studies, to operator selection, operational and asset strategy advice, to sale and agency services.

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