Halima Patel’s Post

Palermo stands out as the hub of culture, economy, and tourism in Sicily, ranking as the fifth largest city in Italy. As the main port on the island, Palermo boasts a plethora of cultural and historical sites that reflect its rich heritage. Its reputation for delectable gastronomy and pleasant Mediterranean climate only adds to its appeal, making it a beloved destination for both buyers and renters. Offering the most budget-friendly prices and rents per square meter among major Italian cities, Palermo provides a more cost-effective living option compared to other urban centers. The city has experienced significant growth in transactions, with a notable 11.3% increase compared to 2019. Despite the challenges posed by the pandemic, Palermo has managed to maintain demand thanks to its unique combination of affordability and vibrant city life.

Fascinating insight into the current hospitality market 🫕🥘

As a leisure surveyor I was interested to read the latest Savills Spotlight: UK Leisure - 2024 research report which came out last month. The research demonstrates the overall resurgence of the leisure and hospitality sectors over the last 12 months against economic headwinds. Some interesting points from the research 👇 ⬆ Entertainment (including membership clubs, cinemas, ticketed events and tourist attractions) in 2023 witnessed a noteworthy surge, peaking in July at an impressive 240 basis points above the mean for February 2020 pre-pandemic levels. ⬆ Similarly, spending on pubs, and fast food consistently exceeded pre-Covid benchmarks, hitting a high of 400 basis points in the summer months. Interestingly, spending on restaurants declines as pubs emerged as favoured venues over more formal dining establishments, suggesting a preference toward more casual and affordable dining experiences. ⬆ Competitive socialising and immersive experience offerings continue to see growth and significant consumer demand. ⬆ The out-of-town F&B sector is experiencing strong growth, with 733 new openings recorded in 2023. In part this has been driven by the increasingly popular drive-thru format. With good news for investors as average annual headline rents on new F&B drive-thrus increased 25.9% in 2023 on the previous year and vacancy rates are particularly low at 4.6%. The report can be found here: https://lnkd.in/ePuHzJpG 🍻🍽️ 📈 Get in touch if you require advice in this sector and I would be happy to help. Avison Young #MarketInsights #ConsumerSpending #EconomicRecovery #LeisureIndustry

Discover the allure of Kefalonia with 'Luxury and Privacy in Kefalonia: An Insider's Guide to Exclusive Private Stays'

UAE Hospitality Market: A Booming Opportunity for Investors The UAE's hospitality sector continues to flourish, with robust growth expected in the coming years. The Knight Frank UAE Hospitality Market Review 2024 offers valuable insights into the current market dynamics and future trends. Key Highlights: Hotel Room Supply: The UAE is poised to witness a significant increase in hotel room supply, with a projected 206,000 rooms by 2026. This growth is primarily driven by Dubai, which accounts for 76% of the upcoming supply. Hospitality Market Performance: The first half of 2024 saw a strong performance across key metrics. Occupancy rates reached 82%, while average daily rates (ADRs) and revenue per available room (RevPAR) also grew substantially. Operator Landscape: International brands dominate the UAE's hotel landscape, holding a significant share of the existing and upcoming supply. However, local brands are also gaining traction, particularly in the midscale and economy segments. Investment Potential: The UAE's thriving hospitality market presents a compelling investment opportunity. The projected growth in hotel supply, coupled with the strong performance of key market indicators, positions the country as a lucrative destination for both domestic and international investors Source: https://lnkd.in/dHMANhFM

A great way to stay ahead is by turning to industry-specific literature. Here are some books recommended by experts in the hospitality industry.

🌐 Did you know that our hotel WiFi network offers all of this? 💡 🏨 Management and creation of multiple interfaces in a single hotel. 🎨 Maximum customisation with iframe and HTML widgets. 🖼️ Carousel of images and a library of multimedia content. 📊 Full control from a centralised platform for multiple properties. 👥 Unified and secure client database. 🏙️ Group your properties by brands, areas or countries. 📈 Global usage statistics or by hotel groups. 🌍 Automatic interface in the customer's language. 🗑️ Automatic deletion of credentials and navigation at check-out. 🛏️ Easy and secure access with ‘Room + Surname’. 🔐 Transform your guests' online experience into a secure and efficient environment! 👉 Find out more about our hotel WiFi solution here: https://bit.ly/3ZU6ZQy 🌐 #WiFiHotels #HotelTechnology #HospitalityTech #SecureWiFi #ConnectedHotels #HotelInnovation #WiFiSolutions

I always find Savills Global Retail and Leisure reports provide good insight. The latest UK Leisure Spotlight is out and my key take-aways are... - the #competitivesocialising market appears to be well established now & set to keep growing into new realms. - #drivethru continue to grow, with new retailers exploring into them (I saw my first Greggs drive-thru last week) - #retailparks maintain their prime position with high consumer demand. https://lnkd.in/eNTfsBVz

John Calvao from Arrow contributes to a React News article titled "A life of Luxury: Where Are the Next European Hospitality Hotspots?" The piece discusses the most promising opportunities for high-end investments in European hospitality, a sector where Arrow identifies strong growth and value creation potential. Palmares is mentioned (as pictured below), which is expected to become increasingly appealing to US travellers, particularly with the upcoming introduction of direct flights from the US. John describes this development as a 'game-changer.'