HOSPA (formerly BAHA), the UK’s leading organization in financial management, revenue management and IT in the hospitality industry, organized its Annual Conference in November at the Sofitel Hotel – London Heathrow.
The theme for the event was “Taking Investment Forward”, in terms of investing in people and businesses to create more value. The one-day conference was kept very crisp targeting the major investment issues to help industry professional understand how to face these crucial challenges related to funding. Russell Kett, President, HVS – specialists in hotel valuations, opened the session involving experts and professionals through a debate aimed at finding solutions to the doubts of hoteliers located away from the big cities and beyond. The lack of interest from investors, along with the problems associated with re-financing in 2013, is one of the main reasons that blocks the revival and promotion of tourism in the UK, and especially in outlying areas such as provinces.
“Boosting investment in the world’s hotel sector is the single biggest challenge facing the industry today. Despite strong buyer interest in the global hotel market and plenty of equity available, not least from the Far East and Middle East, there are few hotel transactions taking place outside key locations and gateway cities across Europe. In the UK, there is little investor appetite in the provinces where hotel trading continues to languish in all but the best-run hotels. Obtaining debt finance for hotel acquisitions is tough and a number of re-financings due in the next year will prove challenging to accomplish in the current environment without a significant chunk of fresh equity and an understanding bank,” said Rassel Kett – President, HVS.
Following the topics on finance, there were discussions on the trends and developments in Revenue Management, and how it could affects hotel sales and revenue. Casey Davy, VP – Sales, EMEA & Canada and Cristina Blaj, Sales Manager, UK & Ireland, attended the event as delegates representing eRevMax and shared their inputs on these topics.
To view pictures from the event, please click here.
Domenico Defina is Sales & Marketing Intern at eRevMax and is based out of London. He can be reached at firstname.lastname@example.org