3rd ITB Hospitality Day: Which factors boost the real estate value?
Berlin (February 15, 2008). Guests always come back to their hotel - their loyalty and the turnover they generate are also decisive in the value of the real estate. Today, the value is also defined by so-called "soft factors" and no longer solely by matter-of-fact aspects such as location or investment. The talk on the issue "Value of Hotel Properties" enriches the third "ITB Hospitality Day" on the second day of the trade fair in Berlin.
Who or what boosts the value of a hotel? Financial statements report numbers only; but several qualitative factors account for the success of a hotel. How are these factors evaluated? Benjamin Ploppa, Manager at Deloitte in Munich, presents excerpts of a Deloitte study among hotel managers and guests in order to give the audience a feeling for the enormous bandwidth of this subject, which is often underestimated.
Prof. Dr. Christian Buer, Dean at the University of Heilbronn, will then try to elicit more detailed answers from the other members of the panel. Carsten Rath, CEO of the Arabella Hotel Holding International located in Munich, is familiar with such questions regarding value definers because of discussions with his own real estate colleagues in the group. Whereas these colleagues often view the subject from the capitalised-value point of view, a hotelier talks about quality. For many years, Arabella Hotels had a double brand name (ArabellaSheraton, ArabellaStarwood) and now the hotels are taking over the brand names of the joint venture partner Starwood's portfolio step by step. Do brand changes also result in more quality? Are good brands a guarantee for increases in value? Carsten Rath will answer.
Concerning the influences that are able to define such value factors, Martina Fidlschuster will say a few words. The Managing Director of the Hotour consultancy for hospitality and tourism located in Frankfurt is an expert for real estate questions and approaches the subject in her typically analytical fashion. When talking to investors, the question about the (increasing) real estate value always has to be answered in the end; therefore the consultant has to deal critically with measurable and less measurable values.
The third hotel conference of the ITB concentrates on the subject "Value of Hotel Properties" on Thursday, March 6, 2008, from 4 - 5 pm in Hall 7.1a, "Auditorium New York 3". hospitalityInside.com is media partner of this event and is organizing the day in terms of content.
See the programme of the entire day at the link: http://www1.messe-berlin.de/vip8_1/website/MesseBerlin/htdocs/www.itb-kongress/de/Kongressprogramm/EDB-ProgrammDetails/index.jsp?amp;fairID=50201&
eventDateId=51528&eventBundleId=51531&lang=de. / kn
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