‘What’s My Hotel Worth?’ Hotel Market Trends and Valuations

08:30 Registration

Join fellow attendees to network ahead of the event.

09:00 Chair’s Welcome and Introductory Remarks

Hear from the forum Chair, who will introduce key themes and learning points for the day.

Chair: Luke Baines, Joint Head of Hotels and Leisure, Addleshaw Goddard LLP

09:10 Case Studies: Trends in Values and Valuation

• Where are we now; a brief market overview
• Drivers of value in hotel real estate investments and operational assets
• Analysis of the occupational trends over the last five years that are currently influencing hotel property values
• Yields: past and present

Presenter: Tom Holt-Wilson, Senior Director and Head of UK Hotel Valuation, CBRE

09:35 Global Brands Post-Covid: What has Changed 

• Maximising hotel value under a brand. 
• ​Getting the best out of your brand (what the brand does and doesn’t do for you). 
• Decisions on ‘Management or Franchise’ and the ‘Lease Option’. 
• ​Ways to build a successful two-way relationship with a brand.

Presenter: Philip Lassman, VP, Head of Development – Northern Europe, Accor

10:00 Finance: What’s Possible and with Whom?

• The availability of debt to help with transactions – at what quanta, costs and terms.
• Existing relationships versus ‘we are open for business’: exploring the true state of the market for high street banks, balance sheet lenders and syndicates.
• Mezzanine funders’ role in paying down loan maturity.
• Opportunities for new developments versus existing assets, given construction costs and other factors.
• Small, mid-sized and £100m+ hotel deals: how the type and size of properties is impacting funding opportunities.
• ​Pressures on financial covenants: what borrowers can do to service debts.

Moderator: Paul McCartney, Consultant, DAC Beachcroft

Panellists:
Huw Zachariah, Debt Advisor, Former Head of Hotels (HSBC)
Bob Silk, Relationship Director, Hospitality & Leisure, Barclays
Daniel Larkin, Partner, FisherBroyles
Louise Gillon, Head of Hotel Finance, Leumi UK

10:40 Morning Refreshments and Networking

A chance to recharge and network with the speakers and your fellow attendees.

11:00 Sustainability: the Market Opportunity for Hotels 

Richard and Tim provide insights on consumer attitudes to sustainability. They discuss the extent to which it is already shaping hotel choices and the implications for hotel revenue and value. Covering:

• Sustainable travel: the biggest markets and customer segments.
• The degree to which, in reality, sustainable values influence customer choice.
• For what (and to what extent) will a customer pay more.
• The attributes – ESG and others – that customers really care about.

Presenters: 
Richard Stevenson, Senior Director, Board Member, BVA BDRC
Tim Davis, Managing Director, PACE Dimensions

11:25 Design Trends in an Election Year: Boundary Changes, Desegregation, Bed Capacity & More

How planning, development and investment will be impacted by the general election. Covering:

• The green manifesto: the increasing importance of ESG, both BOH & FOH.
• Stopping the boats: ‘local, local, local’ as the new property adage.
• Boundary changes: repurposing redundant office space.
• Desegregation: mixed use/tenure.
• Partygate: lifestyle hotels – ‘experience’ Vs ‘expedience’.
• Increasing bed capacity: space optimisation.

Presenter:
Dexter Moren, Founder and Partner, Studio Moren

11:50 Lessons from Market Transactions

• A review of market activity in the past year: what has ‘transacted’, how and why.
• Local and international deals: what has been the range of movement with individual hotel properties versus larger portfolios.
• Stand-offs between owners and buyers: what lenders can do to bridge the bid-ask gap.
• Key drivers for occupiers: how operational costs, inflation and tourist activity are impacting market liquidity.
• The challenges and opportunities 2024 will bring.

Moderator: 
Saar Sharon, Director and Head, Hotel Capital Markets, Colliers

Panellists:
Justin Lanzkron, Director of Business Development, Kew Green Hotels
Phil Golding, Partner, Cedar Capital Partners
Richard Dawes, Director, EMEA Hotel Capital Markets, Savills
Robert Ryan, Head Of Property & Non Executive Director, Lamington Group

12:30 Post-Forum Networking 

Enjoy networking and further conversations on the morning’s content with fellow delegates and speakers.