PIPELINE : EUROPE
The new Conrad St . James in London is a franchise and portrays the strength of the model growing in Europe . year or so , according to van Marken . “ There ’ s a new acceptance of franchising as some investors start to wonder , ‘ Why don ’ t we manage ( either directly or via a third party )? As long as we get access to the infrastructure offer by large hotel brands , we might do a better job of it .’”
Not only is the trend catching fire by the numbers — half of Hilton ’ s European pipeline by room count is franchised , and
Accor , IHG , Travelodge and Marriott are also franchising large chunks of their portfolios — it ’ s also turning up in luxury properties where “ franchising ” would have been a dirty word even a few years ago . Landmark deals such as the Bulgari Hotel in London and the justannounced Conrad London St . James are both franchised .
Hot or not , franchising hasn ’ t pushed all other deal formats out of the way . “ Investors will chase unencumbered and then franchise the management in order of priority , as it gives the most flexibility to their strategy ,” Härle says .
Overall , the sunny picture in Europe still has a few clouds . Experts note current investor confidence might just be soaring a little too high , though they don ’ t see another 2008 coming .
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www . hotelsmag . com October2014 HOTELS 49