In hospitality, capital is usually destroyed in one of two ways: by paying too much, or by understanding too little. The second mistake is more common, and usua…
A hotel is not worth only what its real estate is worth. It is worth what the right people can turn it into. In hospitality, investment decisions are often domi…
One of the most persistent and damaging misconceptions in hotel companies is the idea that minority shareholders who are not involved in management should simpl…
Passive ownership is no longer the most compelling strategy in European hospitality. Capital is still interested in hotels, but the premium has shifted. Investo…
Hotel valuation and hotel assessment: The critical step before a sale, lease, franchise or management agreement. In the hotel business, many deals do not lose v…
The proposed Delfin deal brings a familiar issue into sharp focus. When debt is used to buy control rather than growth, risk does not disappear. It simply moves…
In distressed credit, size is no longer enough. The winners will be those who can combine licensing, evidentiary robustness, process discipline, and institution…
In hospitality, a contract does not merely separate roles. It shapes the economic destiny of the asset. It determines whether the owner remains an active strate…
The former Hotel Majestic in Rome should not be viewed simply as the repositioning of a historic five-star hotel on Via Veneto. More accurately, it should be se…
Room00 Next Gen Hospitality’s acquisition of the Mecenate Palace Hotel matters less for the headline number than for what the transaction actually signals. In R…
Siena NPL 2018 srl: who is really behind the MPS bad-loan vehicle? At first glance, Siena NPL 2018 S.r.l. looks like the sort of company that invites suspicion.…