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In this episode of the IDEEA podcast, the discussion delves into the intricate balance between maintaining the core structure of academic programs, such as academic years, semesters, and credit-based courses, while continuously updating and refining the content. Ruth highlights how this iterative process is not only applied to existing programs but also to the development of new ones.
As the dialogue unfolds, Ruth emphasizes the significance of lifelong learning, a hot topic in an ever-changing workplace landscape. Lifelong learners, often seasoned professionals, seek two critical elements: staying informed about emerging trends and networking opportunities. This lifelong learning approach provides a platform for professionals to share their workplace challenges, solutions, and innovations, creating a rich environment for collaborative problem-solving.
The conversation takes a closer look at Les Roches academic programs, including executive options. Ruth explains that some programs allow students to immerse themselves on campus, while others are designed to accommodate working professionals by offering shorter modules, as brief as 12 weeks. The benefits of these programs are multifold, with students immediately applying their newfound knowledge to their workplaces, resulting in observable impacts.
Ruth shares inspiring anecdotes about students leveling up or changing roles during their programs. The enhanced communication skills gained during these programs empower graduates to articulate their expertise confidently during job interviews or when proposing significant business projects.
Marina and Ruth also explore the close relationship that Les Roches maintains with industry players. Students gain valuable real-world experience through two-semester internships, ensuring they are well-prepared for their careers. Additionally, faculty-led study trips provide insights into industry needs, concerns, and trends, which in turn inform course development. Ruth emphasizes the industry's feedback that Les Roches students are exceptionally work-ready.
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In this Episode of the IDEEA Podcast, Marina Franolic and Dirk Bakker touch upon a variety of topics. They start the discussion of the current state of the EMEA capital market for hospitality, acknowledging challenges such as high inflation, the ongoing war in Ukraine, and cautious investor behavior due to economic uncertainties. Dirk highlights that there is limited activity in the market, with price gaps between buyer and seller expectations, largely driven by uncertainties in interest rates.
They also touch on the importance of ESG (Environmental, Social, and Governance) considerations in the industry, emphasizing that adherence to ESG compliance rules is essential for financing and aligning with corporate policies. The conversation delves into the evolving concept of hybrid hospitality, where work habits and accommodations are changing due to technology and societal shifts. Younger generations are seeking experience-based, lease-oriented concepts rather than ownership.
Marina mentions a paper from 2020 on hybrid hospitality and asks Dirk about the future of this concept, which he believes will continue to evolve and cater to changing work and lifestyle patterns. He mentions the impact of the COVID-19 pandemic on work habits and the rise of flexible office and hospitality solutions.
The podcast covers the current challenges in the EMEA hospitality capital market, the growing importance of ESG considerations, the concept of hybrid hospitality, and the future of hotel brands in the industry. Dirk also expresses his anticipation for networking opportunities at the IDEEA event in Prague.
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In this episode of the IDEEA Podcast, the host welcomes JS Anand, the founder, and owner of Leva Hotels, known for its presence in the Middle East hospitality market.
JS Anand reflects on the unique spirit of Leva Hotels during COVID-19, highlighting their strategic planning, personalized services, advanced technology integration, and distinctive design. He notes that their focus on the Middle East and Africa markets during this period contributed to their survival and expansion.
He shares his plans for Leva Hotels in Europe, mentioning potential locations like Greece, Athens, Venice, Austria, Berlin, and Budapest. He emphasizes that Europe requires a different approach due to the diverse cultural and structural factors. He reflects on the unique spirit of Liva Hotels during COVID-19, highlighting their strategic planning, personalized services, advanced technology integration, and distinctive design. He notes that their focus on the Middle East and Africa markets during this period contributed to their survival and expansion.
JS shares his plans for Leva Hotels in Europe, mentioning potential locations like Greece, Athens, Venice, Austria, Berlin, and Budapest. He emphasizes that Europe requires a different approach due to the diverse cultural and structural factors.
The conversation concludes with an exploration of Leva Hotels' management and potential franchise models. JS expresses his dedication to offering the same level of service and focus whether the brand operates under a management contract or franchise arrangement. The podcast ends with a note of anticipation for the upcoming IDEEA Hospitality Investment Forum in Prague, where JS Anand and Leva Hotels will engage in further discussions. -
In this podcast episode, Frank Halmos, the CEO of Ensana Health Spa Hotels, joins as a guest to discuss the brand's background and operations. Frank provides insights into Ensana's establishment in 2019 and its journey since then, including successful quarters before the challenges posed by the COVID-19 pandemic.
Frank elaborates on the distinction between Ensana's health spa hotels and regular wellness hotels. He emphasizes that Ensana focuses on a strong medical foundation, with doctors guiding treatments and programs designed for specific health conditions. This sets them apart from traditional wellness-focused hotels that prioritize relaxation.
The conversation also delves into the difference between countries in terms of reliance on health insurance and state support for guests. Frank highlights the varying sustainability of this model and the need to adapt to each location's dynamics.
Overall, the podcast provides insights into Ensana's unique positioning as a health spa hotel brand, its journey through challenges, and its commitment to providing tailored health and wellness experiences to its diverse clientele.
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In this episode of the IDEEA Podcast, the conversation revolves around Greece's recent economic developments and its potential as an investment destination. The participants are enthusiastic about the country's improved investment ratings, with both Fitch and S&P affirming Greece's BB plus rating with a positive outlook. This indicates significant progress in the nation's economic conditions and instills confidence among investors, suggesting that Greece is on the path to achieving an investment-grade rating in the near future.
However, there's a recognition of the challenge posed by high inflation rates in Greece. Greece has implemented various financial tools and incentives, such as the recovery and stability fund with a flat interest rate proportion, to counterbalance the effects of inflation on investments. This shows the government's commitment to ensuring a stable and favorable investment climate for both local and international investors.
Marinos acknowledges the need to promote Greece as an all-year-round destination to mitigate seasonality risks. The government's efforts to develop thematic tourism experiences, such as spa retreats and wellness getaways, aim to attract tourists beyond the traditional summer months, thereby diversifying the country's tourism revenue streams.
Lastly, the conversation briefly discusses the recent change in government in June. The new government is commended for its focus on modernization, digitalization of public services, and pursuit of fiscal targets. This vision, along with the stable economic trajectory, positions Greece as an attractive destination for long-term investors seeking growth opportunities and stability.
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In this podcast episode, we speak with Professor Jan A. deRoos, HVS Professor emeritus of Hotel Finance and Real Estate, Cornell SC Johnson College of Business as a special guest with extensive knowledge in hotel finance, real estate, and investment in the hospitality industry. We discussed the most interesting and challenging periods for hotel development, including global events and localized factors. Professor Jan A. deRoos shared his insights on the sources of data he looks at in the morning, such as property brokers and research firms and also discussed the impact of the COVID-19 pandemic on hotel valuation. The conversation then shifts to the differences between limited service and upscale hotels in terms of technology and staff, the conversion of office and retail spaces into hospitality assets, and the impact of inflation and interest rates on hotel investments.
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In this insightful podcast, Xenia sheds light on the pressing challenges faced by investors in the realm of sustainability. From navigating varying reporting requirements to combating the risks of stranded assets, she delves into the complexities that must be addressed for a greener future.
To combat greenwashing and ensure transparency, Considerate Group embraces the power of data. Xenia highlights the significance of evidence-backed decision-making and introduces the Hotel Carbon Measurement Index (HCMI) framework. By adhering to this standardized reporting system, hotels can collect consistent data and benchmark their sustainability efforts against industry peers. Considerate Group has even developed a cutting-edge data monitoring platform that seamlessly aligns with HCMI, automating data collection and facilitating comparisons with other hotels.
Looking ahead, Considerate Group aims to be a trailblazer in the sustainability space. By collaborating with other organizations, they seek to tackle the challenges posed by climate change head-on. Xenia emphasizes the importance of aligning hotel operators and owners to achieve ambitious sustainability goals, envisioning a future where the hotel industry plays a pivotal role in conservation efforts and reshaping our cities.
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Are you interested in hotel investments and financing strategies? Heribert Gangl, Director Hotels & Tourism, Erste Group Bank AG, shares his expertise and insights on the challenges in the industry, especially in the post-COVID era. Heribert emphasizes the importance of understanding different perspectives and being pragmatic in certain situations to address challenges such as inflation, labor shortages, and the need for sustainability.
Heribert also discusses the impact of interest rate changes on financing strategies for investors and borrowers. Previously, financing at almost no cost was assumed, but now investors need to carefully consider their financing terms and how much they want to secure and lock in rates for security and safety.
Moreover, Heribert notes the emergence of low-service concepts and the increased attractiveness of leisure and tourism in the industry. He also emphasizes the importance of the quality of the sponsor and the real estate in project financing, and their focus on existing performing hotels with a track record and experience, and their selective approach to development projects.
Finally, Heribert shares his excitement for the upcoming IDEEA Hospitality Investment Conference in Prague, where he will be one of the speakers. The conference will be a great opportunity to learn more about hotel investments and financing, and to connect with industry experts and professionals. Are you ready to navigate the challenges of hotel financing in the post-COVID era? Join the conversation and stay tuned for more insights and ideas!
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If you're a frequent traveler, you may have heard of the Fairmont brand. But have you heard of the Fairmont Golden Prague? Jakub Dyba, Head of New Investments at R2G, shares the story of how they acquired the Intercontinental Hotel in Prague four years ago and turned it into a luxurious Fairmont hotel that is set to open its doors in 2024.
R2G's investment strategy is centered around conservative, cross-generational assets that prioritize value preservation over rapid growth. Despite not planning to invest in hospitality initially, they saw an opportunity to acquire a prime location in Prague and took it. After organizing a competitive tender process, they chose the Fairmont brand to manage the hotel's future, and Jakub believes it will become a clear leader in the Prague hospitality market.
But R2G's plans don't stop there. They have been in close contact with local authorities to discuss the final look of the surrounding areas and have plans to open two new buildings adjacent to the Fairmont Golden Prague. Jakub emphasizes the importance of location in future investments and says they have looked at opportunities in different capital cities.
As a traveler, the opening of the Fairmont Golden Prague is something to look forward to. But as an investor, R2G's investment strategy and success in the hospitality industry provide valuable insights into the importance of value preservation and strategic partnerships.
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Wellness in Hotels: The Potential for Growth in Central and Eastern Europe
In this podcast, Marina Franolic Managing Director Central and Eastern Europe, the bench engages in a conversation with Magdalena Sekutowska, Senior Director - Development Central & Eastern Europe at Hilton on the growing demand for wellness-focused travel and how the hospitality industry is adapting to meet this demand. They discussed the benefits of offering wellness services, the growth of the wellness industry, and the potential for investment in wellness destinations in Central and Eastern Europe. Magdalena highlighted that Hilton has a team of spa and wellness specialists who design and operate their spas, and also they focus on hotel and spa operations that can function as standalone facilities or form part of larger mixed-use complexes. -
In this episode, We had the pleasure of hosting Le Fichoux Frederic and Borivoj Vokrinek from Cushman & Wakefield, who shared some amazing insights on the recovery of the hotel market in Europe after COVID-19. Despite the challenges, they noted that most markets in Europe are reflecting pre-pandemic levels by 2022, with the exception of the Central and Eastern European region. However, they suggested that the region should diversify its sources of demand and focus on short-distance trips to attract more international travelers.
Another important topic they discussed was the increasing importance of ESG factors in the hotel industry. Borivoj noted that investors are realizing the value of investing in ESG properties and regulations are coming into place to require owners and operators to deploy capital towards ESG initiatives.
Overall, this episode was filled with valuable lessons and victories in the hotel industry. Let's celebrate the resilience and adaptability of the industry and look forward to a brighter future! -
In our first podcast of IDEEA 2023 and 13th episode of IDEEA podcast series, we speak with Gorjan Lazarov, CEO, Orea Hotels & Resorts, one of the most renowned hotel brand in Prague. With a focus on creating a consistent brand experience for guests, the company has invested heavily in repositioning its brand and improving the customer experience. This strategy has paid off, resulting in a record year in terms of financial performance and guest satisfaction.
One of the unique selling points of Orea Hotels & Resorts is their commitment to retaining happy staff members. Despite the challenges posed by the COVID-19 pandemic, the company kept staff employed and salaries at 100%, a decision that the CEO attributes to the company's commitment to core values. This has resulted in a team of dedicated employees who are passionate about delivering a great guest experience.
As the company looks to the future, they are open to both ownership and management models and are exploring the possibility of expanding regionally or internationally while maintaining a consistent brand experience for customers. The CEO acknowledges the challenges posed by global uncertainties such as the energy crisis and inflation, but remains optimistic about the company's future.
Overall, Orea Hotels & Resorts is a company that is transforming the hospitality industry through its focus on creating a great guest experience and retaining happy staff members. As the company continues to grow and expand, it will be interesting to see how they navigate the challenges of the global climate while maintaining their commitment to core values and a consistent brand experience.
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For the twelfth episode of the IDEEA Podcast, Marina invited Aleksandar Ljubic, Executive Director at the Foreign Investors Council (FIC). The FIC was established in 2002 to develop and enable an investment conducive business environment with solid business ethics in Serbia. The council members represent expertise from various sectors and industries, have invested over €35 billion, and employ more than 100,000 employees in Serbia.
Watch the full episode as Aleksandar shares insights the council has seen regarding investment and the sectors that are gaining traction in Serbia. If Serbia is your target market, this is worth a watch.
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Marina spoke about branded residences to Daniel von Barloewen from Accor in the last episode. To get another perspective on the segment and further understand the growing interest in branded residences, Marina invited Hakan Kodal, Chairman of Ando Living, for the eleventh episode of the IDEEA podcast. Ando Living is a relatively new brand in the residential space aiming to revolutionise it by bringing a neighbourhood lifestyle to its properties. Ando living is currently operating five houses in Lisbon and is expanding into other cities in Portugal, Spain, Greece, Turkey, and Dubai.
Hakan shared why branded residences are gaining traction, especially now post-pandemic. Serviced apartments exploded with the rise of Airbnb, but there were no set standards. Some were purely excellent, and some were just dismal. At the onset of the pandemic, services apartments started gaining more traction than hotels, with higher occupancy rates and branded service apartments had higher ADRs than unbranded ones. Hakan believes that residences provide the modern traveller with more space and the flexibility to switch between business and leisure. With branded residences, the traveller is guaranteed a certain level of quality, whereas an unbranded apartment is akin to the anxiety one might have about a blind date.
With Ando living, Hakan aims to make the traveller feel genuinely at home with the concept of neighbourhood living. With mobility being the future of work, if not already, there will be a growing segment of digital and progressive nomads looking for a home away from home, for which Ando Living might be the solution.
So, block out the next 20 minutes because if you are just slightly curious about branded residences, you need to listen to this conversation.
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If we talk about branded residences, Accor needs to be part of that discussion. Accor is set to open one branded residential project every six weeks throughout 2023 and 2024. The global hospitality group operates branded residences on both a managed and franchised basis across twenty-two brands, with a worldwide network and pipeline of 130 branded residential projects.
And the man leading it with his team is Daniel von Barloewen, Head of Mixed-Use for Europe, Middle East, India, Africa & Turkey at Accor, so Marina invited him to be our guest for the tenth episode of the IDEEA podcast.
For anyone interested in branded residences, this is a valuable conversation to listen to as Daniel explains how branded residences started, what elementary criteria can be used to evaluate a project and market, and what audience segments tend to work with branded residences.
Take the next 20 minutes to listen to the conversation and find out which markets Daniel would like to build a presence with Accor if not already done.
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Despite the challenges posed by the pandemic, IHG has remained committed to its expansion plans. In the past two years, the hospitality group has signed numerous deals across the globe, with Europe being a key focus. The company aims to have 60 hotels in operation by 2035 and recently debuted the InterContinental brand in Albania. IHG is confident Southeast Europe presents many growth opportunities and is committed to investing in the region.
For more insight into IHG's recent developments and plans for the SEE region, Ali Shahid welcomed Hylko Versteeg, who heads development in Southern Europe for IHG, for the ninth episode of the IDEEA podcast. Across the deals being put forward, the request for luxury projects has increased, leading to higher interest in opportunities in Southeast Europe. Regarding liquidity among investors, Hylko believes there is more available than ever, and investors are looking for investment projects. The pandemic has also forced the younger generation who have come into hotel ownership as part of the family business to re-evaluate whether they would like to continue in the same vein seeing the hard work and effort needed to make these investments work. The sale of assets from those unwilling to continue has created opportunities for brands and operators to enter markets, which would not have been possible previously. Italy is such a market which ample opportunities and few branded hotels.
Success is not without challenges, so despite the optimism around current opportunities and performance, IHG is staying alert on issues such as sustainability and staffing impacting the wider industry. Grab a tea or coffee and take 15 minutes to hear the insights being shared by Hylko in this episode.
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You can’t make an informed decision without the data. This is especially true when it comes to hospitality investment. And if you want to talk about hotel data, you need STR, a one-stop shop for all matters related to hotel performance data. Marina invited Thomas Emanuel, Senior Director at STR, for the eighth episode of the IDEEA podcast to share a teaser of what attendees can expect from his session at IDEEA on day one.
Over 20 minutes, Thomas dived into the data, sharing insights into some markets’ performance compared to the 2019 data. One of the standout markets with positive performance was Italy. When asked about the forecast for the remainder of the year, Thomas believed it would stay bullish with the continued influence of inflation, revenge tourism and significant pre-booked leisure demand. Most of the performance has been driven by the domestic market, but it is hard to be confident that it will continue or grow as international markets return.
Thomas will be taking the stage at IDEEA to decode the data further. Still, these 20 mins on the IDEEA podcast can be seen as the primer to the final coat of paint he draws at IDEEA to provide attendees with a complete picture of whether hotels in Southeast Europe are set for bright times ahead or if the pent-up demand will fizzle out like a Tik-Tok dance trend.
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For the seventh episode of the IDEEA podcast, Marina Franolic invites Takuya Aoyama, the Vice President of Hyatt International and long-time supporter of the Adria Hotel Forum, the predecessor of IDEEA Hospitality Investment Forum, and a seasoned industry veteran. Marina took the opportunity to get off-the-cuff insights from Takuya by doing a roll call of markets in the Central East Europe region and asking about his perception of those markets and whether Hyatt will seek to grow a presence in those markets if not already present.
Takuya's wealth of experience in the hospitality industry makes for a fascinating discussion, and his perceptions of these markets will provide a different and valuable perspective on the pros and cons of each one, which is essential to have when looking at hospitality investment and development opportunities.
Block the next 25 minutes and have a listen or watch the conversation in full.
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he EU’s new taxonomy for sustainable finance and associated legislation is a complicated concept to get your head around. To make matters trickier, it seems likely to evolve over the coming years, with the ramifications unknown for some time. To break down the impact of the new EU taxonomy, at least briefly, and how it impacts real estate investors and decisions around building a new property, Marina invited Theodor Kubak, the Managing Partner at Arbireo Hospitality Invest & Value One Hotel Operations, for the sixth episode of the IDEEA podcast.
As he breaks down the impact of the new regulations, Theo stresses that one of the main challenges in complying with them is the lack of data. While it may pose some challenges, he believes one of the key benefits that these changes are that all stakeholders will need to work together as a team to ensure that the project or properties are compliant. Before this, goals and priorities were too fragmented by project phase and group.
When you have questions about sustainability and hospitality, Theo is someone whose insights will be valuable to the conversation. For example, did you know greenwashing was coined in the hospitality industry? Watch or listen to the 20-min episode as Theodor Kubak teases a few insights ahead of his sustainability panel session on day two of IDEEA.
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Hilton has 5,500 hotels worldwide, with another 2,700 properties in development. And Hilton plans to make all of them sustainable and is very well on its way. Paulina Bohdanowicz-Godfrey, Senior Director of Energy & Environment EMEA at Hilton, joined Marina Franolic for the fifth episode of the IDEEA podcast.
In their conversation, Paulina shed light on the pillars of Hilton’s ESG strategy called Travel with Purpose and the accelerated progress the hospitality group is making towards its 2030 goals. There are so many vital insights she shares as a teaser to her panel session at IDEEA with other sustainability leaders on day two of the forum.
Marina also asked Paulina to shed some light on Hilton's top-class sustainability initiative, LightStay. The group launched LightStay in 2009, so its managed and franchised hotels could report energy, water, waste and social impact data (including volunteerism and food donations) every month. Over the years, Hilton’s LightStay platform has gained three International Organization for Standardization (ISO) certifications for quality, energy and environmental management.
There is no silver bullet for sustainability, but when asked to name some quick wins for hotels to adapt, a top one was awareness and behaviour. Without a full buy-in across its hospitality ecosystem, the goals will fall short of their mark. After the fanfare of sustainability initiatives, many tend to return to their old behaviours and routines. Hilton is ensuring it does not succumb to that egging on even travel managers for corporate clients to input ESG data into Lightstay for a better view of their environmental impact.
This 30-minute conversation is worth watching or listening to if sustainability in hospitality is your tea.
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