Episode 17: Heribert Gangl, Erste Group Bank AG
Are you interested in hotel investments and financing strategies? Heribert Gangl, Director Hotels & Tourism, Erste Group Bank AG, shares his expertise and insights on the challenges in the industry, especially in the post-COVID era. Heribert emphasizes the importance of understanding different perspectives and being pragmatic in certain situations to address challenges such as inflation, labor shortages, and the need for sustainability. Heribert also discusses the impact of interest rate changes on financing strategies for investors and borrowers. Previously, financing at almost no cost was assumed, but now investors need to carefully consider their financing terms and how much they want to secure and lock in rates for security and safety. Moreover, Heribert notes the emergence of low-service concepts and the increased attractiveness of leisure and tourism in the industry. He also emphasizes the importance of the quality of the sponsor and the real estate in project financing, and their focus on existing performing hotels with a track record and experience, and their selective approach to development projects. Finally, Heribert shares his excitement for the upcoming IDEEA Hospitality Investment Conference in Prague, where he will be one of the speakers. The conference will be a great opportunity to learn more about hotel investments and financing, and to connect with industry experts and professionals. Are you ready to navigate the challenges of hotel financing in the post-COVID era? Join the conversation and stay tuned for more insights and ideas!