As the South African and broader African hospitality market continues to recover post-Covid-19, investment and development activity is set to ramp up as the sector evolves post its biggest ever crisis.
Industry expert Wayne Troughton, the CEO of HTI Consulting, says there are various themes and trends that are hot right now, “especially as the industry rebounds and leading players reposition themselves from a product, planning, funding and development pipeline perspective”.
Among the most notable trends for him is how the operational and investment landscape has shifted post the pandemic, how markets and products are adapting to these changes, and what the recovery and forward bookings are looking like for the upcoming season.
“One of the key questions we hope to answer is what the recovery and forward bookings are looking like currently and for the upcoming season.
“HTI Consulting is conducting research with tour operators, travel agents and hotel operators. The results of these surveys will be presented at the Hospitality Forum and will be discussed in a panel discussion with key influencers and champions in the sector.
“As Covid-19 has changed the way we think and to a certain degree how we work and travel, it is important to understand what new products have emerged and how existing brands have adapted to these changes especially moving forward,” he says.
He adds that Covid has also put significant pressure on cash flows that has resulted in the restructuring of debt and equity structures, and may also result in longer-term changes to how projects are evaluated and financed in the future.
Troughton’s comments come ahead of the inaugural API Hospitality Forum which will be held in Joburg on September 22.
It will provide insight into this fast-moving and exciting sector for over 150 attendees by leading industry experts, global hotel brands, funds, hotel owners and others from across the value chain.
“Over the last few years, a large proportion of investors in hospitality have migrated from other real estate asset classes, making it even more important to create this linkage between the broader real estate community and the hospitality sector.
“Partnering with the API Summit also makes it more affordable, enabling the summit to attract a broader and larger audience who may have found other international hospitality conferences inaccessible in the past.”
With an enviable pipeline across the African continent, Daniel Trappler, Radisson Hotel Group’s senior development director for sub-Saharan Africa, stresses the major role that hospitality plays as a lever of economic growth and also by providing meaningful and sustainable job creation.
“Hospitality is a key economic driver, employment creator and focal property type in regions throughout South and sub-Saharan Africa.
“Currently, our hotel development pipeline in the sub-Saharan region has an all-encompassing focus, including hotels within mixed-use schemes, serviced apartments, and appropriately located standalone products – ensuring that our developments are a response to market needs as we continue to cement our position as the most diverse hotel management company across Africa in terms of the number of countries in which we operate.”
Source: IOL
