{ "docId": "019dd923-5e88-73ef-bd59-3d3e7187be68", "docSlug": "a284c972af5b8b12", "documentTitle": "ey industry pulse report travel and tourism", "authorId": "MorganStanley", "authorName": "EY", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "equity_research", "sourceTypeLabel": "Equity research", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.779, "pageNumber": 20, "pageCount": 34, "prevPage": 19, "nextPage": 21, "slideType": "industry_trends", "function": "establish_context", "density": "overcrowded", "nDataPoints": 2, "notes": "EY branding present. Mentions specific investors and projects like Sani/Ikos, Brown Hotels, and Ellinikon.", "elementsJson": [ "headline_text", "bullet_list", "photo", "footnote" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd59-3d3e7187be68/20", "deckHref": "/decks/019dd923-5e88-73ef-bd59-3d3e7187be68", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd59-3d3e7187be68.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd59-3d3e7187be68#slide-20", "components": [ { "bbox": null, "kind": "callout", "text": "The most significant transaction in 2022 concerns the strategic partnership agreement of Sani/Ikos Hotel Group and GIC, an investment company set up by Singapore State, under which GIC becomes a major shareholder of the Group.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-340b-7192-a37f-cddc148e4d67", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.65, "w": 0.25, "x": 0.72, "y": 0.18 }, "kind": "image", "text": null, "attrs": null, "subkind": "photo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3d683d1f-f81a-4eae-9735-1060aabc2987", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.4, "w": 0.32, "x": 0.05, "y": 0.52 }, "kind": "list", "text": "Investment activity is particularly high in established markets, such as Crete (e.g., Hines & Henderson Park, Mitsis Hotels, Ikos etc.), Corfu (e.g., H.I.G., Ikos), Rhodes (e.g., H.I.G., Zetland Capital) and Mykonos (e.g., AGC Equity Partners, Grivalia Hospitality & Frontisa). The most significant transaction in 2022 concerns the strategic partnership agreement of Sani/Ikos Hotel Group and GIC, an investment company set up by Singapore State, under which GIC becomes a major shareholder of the Group. For this transaction, the value of the Sani/Ikos Group was estimated at €2.3bn. The hotel group owns 14 units, two (2) of which are located in Spain, and one (1) in Portugal.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "029dc9ad-1e78-42ee-9bf7-ac18c85eccbd", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.32, "x": 0.38, "y": 0.45 }, "kind": "list", "text": "Significant investments are also being made in the center and south of Athens, known as the Athens Riviera. This area is gaining more attention due to the \"Ellinikon\" mega-project (under-development), that is situated in the Athens south. Temes S.A. is also setting the tone with the redevelopment of the \"Athens Hilton\", a landmark of the Greek capital, that will reopen under the Conrad brand. To name a few of other investments in Athens, \"Moxy Athens\" recently opened in the Athens city center (Prodea & Dimand), while in proximity, \"Esperia\", another historic hotel, will reopen as \"NYX Athens\".", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bf204673-9ad0-4c58-b1ee-c87e9453c558", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.4, "w": 0.32, "x": 0.05, "y": 0.18 }, "kind": "list", "text": "In line with the sector's repositioning toward the luxury segment, investors' primary focus is on 4-star and 5-star hotel units. Investors have been largely focusing on the acquisition or lease of existing hotel units, aiming to reposition them in the higher segment of the market, by performing refurbishment works and rebranding them. Such investments are expected to grow further during the forthcoming months, due to rising inflation and construction costs. However, many investors are currently pursuing significant greenfield development projects, especially in established markets (e.g., Mykonos, Crete, Pylos).", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cd63e64c-1a67-440b-9b37-da58ccc30a8e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.32, "x": 0.38, "y": 0.18 }, "kind": "list", "text": "However, recently, investors are showing increasing interest in less established destinations, with the potential to become upcoming destinations. For instance, \"Brown Hotels\", is expanding its portfolio with the addition of hotel resorts in less established locations such as Chalkida, Eretria and Corinthia, while through a consortium scheme, the company was recently named as the preferred investor for the acquisition of a loan portfolio, backed with 72 hotel units in less established destinations in Greece.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f9e0a37a-d73f-4ffa-9d5e-46a62989a98f", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "Transaction value: €2.3bn", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd952-340b-7192-a37f-d11a90d945d4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.15, "x": 0.05, "y": 0.92 }, "kind": "source-note", "text": "Source: Press, EY Analysis", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "20332af5-2cd9-4a80-b8c9-b46dcb0a98f3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Investment activity remains high, from both local and foreign investors, who see significant growth potential in the Greek T&T sector", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "62809249-ae31-4c7a-94e0-870e3d1e92ec", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [ { "to": 32, "from": 3, "name": "Golden Circle", "slug": "11-golden-circle", "bestFor": "Visionary leadership, brand positioning, mission statements", "matchId": "5f91a788-9ec7-4292-b60f-e6e807610b26", "evidence": "The document uses the golden circle loop to structure its narrative, starting with why the sector is important, then discussing what can be done to support its growth, and finally exploring how to achieve this growth.", "position": 0, "objective": "To understand the growth potential of the Greek travel and tourism sector and the need for sustainable practices and digital transformation.", "structure": "The Why (Belief) -> The How (Process) -> The What (Result)", "confidence": 0.7, "description": "Invert the typical pitch by starting with why you exist, rather than what you do" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }