Global Hospitality & Leisure Newsletter
Mayer Brown is proud to be co-sponsoring this year's Hotel Investment Conference Asia Pacific 2016 (HICAP 2016), which takes place from 19 to 21 October 2016 at the InterContinental Hong Kong. Several members of our Hospitality and Leisure Group are attending.
We look forward to seeing you there. If you would like to get in touch or arrange a meeting with us prior to the event, please contact a member of our team, listed in our Global H&L Brochure.
Newcomers to Mayer Brown - Contributing to our H&L Teams
Introduction to our 2016 Global H&L Newsletter
By Andrew MacGeoch, Hong Kong
Brexit: What Does it Mean for the Hospitality and Leisure Industry?
By Andrew Hepner, London
On 23 June 2016, UK voters decided to leave the EU. The full impact of this decision is unclear but businesses and potential investors in the UK and overseas face a prolonged period of economic uncertainty, and in the short-term at least, will act with a greater degree of caution. The decision to leave the EU is expected to affect the UK economy, but it will have specific effects on the UK hospitality and leisure industry, which has been estimated to generate revenues of over £200 billion a year, given its sensitivity to consumer spending and business confidence.
Hotels at Risk: The Legal Consequences of Terrorist Attacks on Hotels
By William Michael Jr., Chicago and Stephen Tibbles1
The targeting of hotels by terrorist organisations is not a new phenomenon but certainly a growing one. Hotels are often seen as soft targets, having wide-open environments with multiple entrances and a constant flow of guests, visitors, staff and delivery people. Hotels are also easily subject to pre-attack reconnaissance, with floor plans, photos and panoramic video clips of public areas often available over the Internet as part of marketing efforts and with co-located restaurants and shops open to the general public. In addition, hotels that are associated with western countries and that host foreign dignitaries and western guests are most at risk to be targeted by terrorist organizations throughout the world.
Germany: Office-Hotel Conversions Increase
By Dr. Joachim Modlich, Düsseldorf and Dr. Jürgen Streng, Düsseldorf
The German hotel investment market remains strong with a lack of high quality assets available for sale. This trend is likely to continue. The German hotel market currently has some interesting characteristics, namely the significant number of unbranded hotels (although many of these hotels are burdened with material capex requirements), a strong German economy, a robust business travel market as well as an increasing attractiveness of German cities such as Berlin and Munich for international tourists. This is resulting in an increasing number of investments being made into office properties but with potential for subsequent conversion into hotels.
