The severe shortage of financing and the cautious investment attitude resulted in a flattened development market and lack of transactions. However, as the economic balance is regained and the prospects of growth are real, tourism – a highly responsive industry – shows promising signs of recovery and expansion in the EMA region.
As a result, real estate as an asset class is regaining its importance and there is a growing interest in investment opportunities in well conceived integrated hotel and resort projects. The need for preparing detailed market appraisals, understanding target markets’ preferences and conceptualizing original projects has never been such a crucial aspect of the predevelopment process.
Consumer trends at resorts are constantly evolving: people live longer than previous generations; they are becoming environmentally, health and fitness conscious and are searching for an escape from work-related stress. Identifying and understanding these and other preferences represents an opportunity for resort developers to attract a wider range of potential investors.