Record Attendance at Berlin Hotel Investment Conference

The 6th International Hotel Investment Forum (IHIF) held March 11-13, 2003 in Berlin drew a record number of delegates, according to Jonathan Worsley of Insignia Hotels, one of the event's co-hosts.

"There was a real air of anticipation at this year's IHIF, given the turbulent times affecting travel and tourism. However, hotel industry leaders came to IHIF in record numbers, despite gloomy forecasts from many industry analysts", Worsley said, "Over 1,000 delegates from more than 50 countries attended".

In a pre-conference survey, delegates were polled on their outlook for the hotel/tourism industry. Results showed that 67 percent believe there will be less new construction in 2003 versus 2002; 52 percent believe there will be more portfolio transactions and 47 percent believe there will be more sale and leasebacks.

Delegates chose Poland, Russia, Germany and the Czech Republic as the top four countries where demand for economy lodging will grow most during the next three years.

Co-host Jim Burba, President of Burba Hotel Network (BHN) stated, "These survey results reflect the cautious mood in the capital markets regarding new development and the belief that many hospitality companies might actually be good acquisitions  today, the later view validating the underlying belief in the long term prospects in the industry."

The IHIF covers three days and is held immediately after the ITB, the worlds' largest hospitality travel trade show held annually in Berlin, Germany.