JLL brings together four of the country's leading experts live to analyze the future of the hotel market
Part of the 25th anniversary celebrations in Brazil, the event addressed the challenges and opportunities for the sector after the effects of the COVID-19 pandemic.
What to expect from the future of the hotel market after the crisis caused by the pandemic? To break them down into the main trends, analyzing the challenges and opportunities for the sector, JLL promoted, last wednesday (08/25), its third live celebrating 25 years of presence in Brazil.
Broadcasted live on JLL Brasil's social channels, the event brought together four of the country's leading experts in hospitality: Ricardo Mader and Pedro Freire, directors of Valuation and Advisory Services (VAS) at JLL, Alexandre Solleiro, CEO of Brazil Hospitality Group (BHG ), and Orlando de Souza, president of the Forum of Hotel Operators of Brazil (FOHB), in addition to the special participation of Fábio Maceira, CEO of JLL Brazil.
Over more than an hour of live event, participants analyzed various aspects of hospitality, from the main lessons learned by the sector with the pandemic, as in asset management, through the user experience and the use of technologies, without leaving to assess the trends and possibilities that open up for a recovery in a transformed landscape.
“The sector learned to work in a time of exception and to better manage costs. Hospitality has a high fixed cost, and a lot of planning is needed to not only control this, but also to reduce these costs. Going forward, hotel owners and operators will understand that profits must be maximized. As this is a service industry, it is important to have this balance between income and expenses”, explained Ricardo Mader, head of Valuation and Advisory Services at JLL.
Pedro Freire highlighted the importance of hotels being prepared to meet the various demands that are emerging, which should bring new opportunities for the sector.
“The demands will exist, but hotels will need to be more flexible. An example is the capacity for hybrid and on-site events, multifunctional spaces, room offices and fitness room, in addition to open and more airy environments. This flexibility brings many possibilities for revenue generation”, commented the director of Valuation and Advisory Services at JLL.
Bringing the views of both the investor and the hotel operator, Alexandre Solleiro and Orlando de Souza drew an overview of the supply situation in Brazil. If previously there was a certain excess in some locations, the pandemic and its effects should regulate the number of hotels and, at the same time, drive growth in the sector across the country.
“There is an excess of supply, but it is sectorial, in some places and it is not possible to generalize. We can mention Rio de Janeiro, for example, but a lot for the World Cup and the Olympics. The pandemic, in turn, must regulate this scenario in a natural way. Still, I see that the offer will grow in Brazil, as well as the entire sector”, said Alexandre Solleiro, CEO of BHG.
“The pandemic affected directly and shed light on how fragmented the sector was. As COVID-19 was a common enemy, it brought everyone together. And this should also impact a rearrangement of the offer, with the most prepared returning more easily, whether adopting new formats, more flexibility, betting on mergers or having technology as a driver”, explained Orlando de Souza, president of FOHB.
Watch the event! (in Portuguese)
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