Press Review

September 2024 : the real estate, tourism and hospitality press review

Last update : 30 September 2024

It's time for our September 2024 press review. We have selected the news, trends and debates that have marked the real estate and tourism sectors in recent weeks. In particular, we look at the turbulence on the SCPI market, the emergence of tourist coliving and growing investor interest in Nordic hotels. This back-to-school press review is also an opportunity to take stock of the summer season in France and Europe.

Tourism : coliving, a booming trend

Tourist coliving, already on the increase since the Rugby World Cup, gained new momentum after the Paris Olympic Games. This formula, which combines shared and private spaces, is appealing to visitors, whether tourists or professionals. ‘Initially, consumers turned to hotels or Airbnb, but faced with a lack of availability, they discovered the advantages of coliving’, explains Thomas Schmider from Colodge. This trend could well have a lasting impact on consumer habits in the tourist accommodation sector (MySweetImmo).

Real estate : participative financing on the rise

David Douillet’s new real estate project has broken records. In just thirty seconds, more than a thousand investors raised €550K. How did they do it? Thanks to Bricks.co, a crowdfunding platform that democratises access to large-scale projects. It is highly likely that this approach will develop over the coming years, particularly in the tourism sector. Last year, on the same platform, Tony Parker opened his doors to investors to finance his château and wine estate in Avignon (MySweetImmo).

Tourism : a summer of contrasts in France 2024

The summer season in France was mixed. Fickle weather, the dissolution of the National Assembly and concerns about purchasing power put the brakes on holidaymakers. However, the Paris Olympics provided a breath of fresh air. They encouraged the French to travel and attracted many foreign tourists. This dynamic could continue in the years to come. Another finding: generation Z has opted for slow tourism in rural areas, while older people prefer to go away in September. (RCF)

Hospitality : Nordic Countries Attracting Investors

The Nordic hospitality sector is experiencing a new wave of investments, with a 14% increase in transactions in the first quarter of 2024. This market, once dominated by local capital, is now attracting international investors, drawn by the region’s political and economic stability. Another factor : “local currencies, such as the Swedish krona, have weakened against the British pound and the euro,” notes Stefan Giesemann. Following the lead of companies like Numa Group, many investors are primarily focusing on cities like Copenhagen and Stockholm. (Hospitality Investor)

Investment : Swiss securitised real estate still attractive

In Switzerland, securitised real estate will once again be attractive in 2024, buoyed by the gradual normalisation of monetary policy, the stability of the Swiss market and expectations that the Swiss National Bank will cut key interest rates. ‘Yields, risk premiums and premiums have encouraged investors to rediscover these investments,’ says Alain Freymond. As a result, securitised real estate investments are likely to remain on an upward trend in the region over the coming months. (Agefi)

Tourism : Southern Europe Faces Overtourism Saturation

Cities in Southern Europe, such as Rome, Barcelona, and Athens, are expressing frustration over the massive influx of tourists. After the pause brought by the pandemic, overtourism has returned, exacerbating already existing issues like rising property prices, gentrification, and resource shortages. In drought-stricken regions like Sicily, tourists are even consuming more water than residents. Despite fines and restrictions, governments struggle to find a balance, as tourism remains vital to their economies. (Politico)

Tourism : reinventing the model in the face of overtourism

Overtourism is at the heart of the debate. From the Canary Islands to Colombia, via Japan, local populations are expressing their annoyance at the massive influx of visitors, soaring rents and degradation of the landscape. However, a number of initiatives are emerging to regulate the situation without damaging the local economy: using artificial intelligence to manage visitor flows, introducing taxes, and temporarily closing sites. Numerous avenues are being explored, and examples show that a new balance is possible. (Courrier international)

Tourism : business travel back to pre-Covid levels

After several years of turbulence linked to the pandemic, the business travel sector is back in the black. It is returning to pre-Covid trends and dynamics. According to a study unveiled by American Express Global Business Travel, the global business travel market has rebounded faster than expected. Demand for business travel is being driven in particular by the organisation of international events and growth in the technology sectors. However, new criteria are emerging, such as the importance attached to sustainability. (TourMaG)

Hospitality : Spanish Hotels Battle Booking After Record Fine

In Spain, Booking has been hit with a historic €423 million fine for abuse of dominant position. The competition commission penalized the booking giant for imposing unfair commercial conditions on local hotels and hindering competition. Among the incriminated practices: preventing hotels from offering lower prices than those displayed on the platform. Hotel unions are organizing to claim compensation. (Equinox)

Hotels : Accor’s nugget celebrates its 50th anniversary

Ibis, which is celebrating its 50th anniversary, remains one of the Accor group’s major assets. ‘The brand represents 45% of our hotels and 25% of Accor’s sales,’ says Jean-Jacques Morin, Accor’s Deputy Chief Executive Officer. It is also the Group’s most profitable brand, with a return on investment of between 15% and 20%. The reason: the brand, which revolutionised budget hospitality by making travel accessible to all, has been able to reinvent itself without losing its positioning. All the more reason to appeal to international investors, who see the future taking shape through the brand (Le Figaro).

Investment : why do new SCPIs perform better?

The new SCPIs launched after 2020 often perform better than the average. There are several reasons for this: they have sufficient liquidity to invest in a declining real estate market, and their strategy is more diversified. What’s more, they generally favour sectors such as healthcare, nursing homes and hotels, which have proved particularly resilient in the face of the crisis. By contrast, historic SCPIs, particularly those specialising in office property, are suffering from a significant fall in demand. (Boursorama)

Date de première publication : 30 September 2024

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