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While 2022 defied expectations to set new records and establish itself among the benchmark years for the hotel industry, 2023 did not disappoint by making the sector’s good performances seem normal.
2023, a transition year before an auspicious 2024? Many appointments have been made. The Paris Olympic and Paralympic Games, the UEFA Cup in Germany, or the America’s Cup in Valencia herald promising prospects and reveal great opportunities for the European hotel industry in a context of inflation reduction and probable interest rate cuts. After two years of outperformance, the previously very high RevPARs are expected to start converging towards the inflation level.
Excellent news! Renewable energy installations surged by 50% in 2023, according to a report by the International Energy Agency (IEA). China led this growth with a 66% increase in new wind installations. In total, 507 GW were commissioned, with 75% coming from photovoltaic solar.
Over the next five years, the IEA predicts the “strongest growth” in renewable energy in 30 years. An acceleration that brings us closer to the goal, set at COP28, of tripling global capacity by 2030. Additional financing is needed, especially for emerging countries. Under current market conditions and policies, global capacity could only double by 2030 according to the IEA.
Energy transition is progressing, but intensified efforts are essential to meet our climate goals.
EXTENDAM and SOHOMA have acquiredthe Citadines City Centre Lille, in property and funds, to transform the asset into a new establishment meeting with the territory’s needs!
After significant restructuring work, the asset will offer 107 four stars aparthotels under the Residence Inn by Marriott brand.
Located in Euralille business district, the hotel has a premium location between Lille Flandre and Lille Europe stations. The new Residence Inn by Marriott is expected to meet the needs of a mixed clientele seeking long-stay accommodations in a prime environment, with more than 14 000 jobs, five higher education schools, and attractions such as Lille Grand Palais or Le Zénith.