EVENTS


for its Courtyard brand, but raised concerns over


TOP: Deloitte’s Nick van Marken takes to the stage ABOVE LEFT: Mark Lankester of Tune Hotels and Michael Levie of CitizenM talk pipeline ABOVE RIGHT: Scott Woroch of Four Seasons Hotels and Resorts BELOW: ‘Dr Gloom’ Roger Bootle of Capital Economics is unseasonably optimistic BOTTOM: Alex Kyriakidis takes on panellists Roeland Vos from Starwood and Amy McPherson from Marriott


VAT rates and government cuts. Both parties believed there were still parts of Europe that offered potential, but pinpointed China as a huge growth opportunity, both within the country and for the rest of the world’s economy. “In the next five years, 100m people will have the financial capability to travel,” commented Vos. This backs up the recently published Deloitte report ‘Hospitality 2015: Game changers or spectators?’ which details a vision for the future of the industry. Session moderator and Global Managing Director, Tourism, Hospitality & Leisure at Deloitte, Alex Kyriakidis commented: “China is seeing huge growth in GDP per head, forecast to more than double between 2010 and 2015, fuelling growth in disposable income and interest in travel.” Returning to the hotel groups in question, Vos revealed


that the next three to five years will see the addition of 15-20,000 rooms across its portfolio, whilst McPherson announced a pipeline of 5,000 rooms, 40% of which are earmarked for Courtyard. Both speakers believed lifestyle hotels would prosper in the next cycle, as demonstrated by the recent launch of Marriott’s first foray into the sector with Edition, and the scale of Starwood’s pipeline for W, larger than that for any of its other brands. Kyriakidis confirmed: “By 2015, mass market lifestyle brands will increase both in number and scale by providing a differentiated offering to consumers and sufficient financial returns to owners and operators.” As talk turned to the budget sector, Kyriakidis presented TNS pre-conference survey findings that showed the majority of the audience to believe capital will be spent in the budget sector in 2011. Despite this, Vos said it unlikely that Starwood would venture here, and McPherson commented: “It’s not never, but not now.” The dreaded Mathematics lesson followed lunch


with two investors and two lenders taking to the stage. Moderator Rod Taylor, Chairman of Taylor Global Advisors, questioned what back to basics meant in terms of investment? According to Carmen Hui, VP, Acquisitions and Development Europe, Host Hotels & Resorts:


132 JANUARY / FEBRUARY 2011 WWW.SLEEPERMAGAZINE.COM


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