2017 - Wrap up
In a year when Harry met Meghan, the Brits began to leave the EU, the US President twittered endlessly and Africa continued to see both famine and political change, fortunately our sector welcomed more disruptors and continued to thrive.
Tourism development evolved, hotel portfolio ownership changes took place, brand proliferation continued following the effects of the major Marriott/Starwood merger, niche lifestyle concepts such as Joe & Joe emerged, Airbnb cemented its positioning and the non-traditional hospitality offer to consumers widened. However, fixed costs became a real concern as specifically payroll affected profitability notwithstanding rising occupancies and ADRs. Despite this, interest in investing in the sector remains high.
This year, Partners at Arc have had insights to the challenges in carrying out assignments supporting owners in the following amongst others:
We look forward to sharing our views and experience with you in our Newsletter early next year.
In the meantime, Festive Wishes to clients, colleagues and associates – thank you for your support!