Polled on their outlook for the industry in a pre-conference survey, 67% of delegates believe there will be less new construction in 2003 versus 2002; 52% believe there will be more portfolio transactions, and; 47% believe there will be more sale and leasebacks. Poland, Russia, Germany and the Czech Republic are the top four countries where delegates believe demand for economy lodging will grow most during the next three years.
"These survey results reflect the cautious mood in the capital markets regarding new development and the belief that many hospitality companies might actually be good acquisitions today, the later view validating the underlying belief in the long term prospects in the industry," said co-host Jim Burba, President of Burba Hotel Network.
Burba produces several annual hotel gatherings including the Caribbean Hotel & Tourism Investment Conference, the Hotel Investment Conference Asia Pacific in Hong Kong and the Americas Lodging Investment Summit (ALIS) in Los Angeles.
The International Hotel Investment Forum is one of the largest annual gatherings of top hotel and tourism industry executives. The event covers three days and is held immediately after ITB, a major hospitality travel trade show in Berlin. Additional information about IHIF is available at www.BERLINconference.com.
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