The discussion kicked-off with views from industry leaders Thomas Zinck (Swiss Life Asset Managers) and Gregory Pourrin (Paris Inn Group), on the tourism and hospitality dynamics heading into the usually bustling Mediterranean summer season. Then, our panel of valuers Hugo Le Moing (France), Ioannis Orfanos (Greece), Luis Martin Guirado (Spain) and Maurizio Negri (Italy) discussed how this year of uncertainty is impacting valuations and their expectations for the foreseeable future.
- Although the Mediterranean tourism season will be affected by the ongoing pandemic containment measures, the hotel business will notice a rise of local tourism compared to previous years;
- The hotel industry has been affected by three key components: connectivity, mobility and hotel management;
- The approach to hotel valuations and the metrics to focus on has not changed;
- Significance of the quality of management from the investor’s point of view;
- A new kind of NPLs will emerge.