Special Market Report, Issue 72: Austria

By On 24th August 2016

Heribert Gangl of Horwath HTL Austria has written our latest Special Market Report, focusing on Austria’s tourism market.

Austria offers an exciting and rich variety of tourist attractions to its visitors: modern cities, beautiful nature and well-preserved cultural highlights. The so-called “Alpenrepublik” is also home to many international events such as the Salzburg and Bregenz Festival or the Opera Ball and Life Ball in Vienna. Austria is an attractive year-round tourist destination and welcomed almost 40 million overnight visitors in 2015. Since 2000, tourism arrivals have increased by a total of 49% and overnight stays by 19% to reach new record levels.

About The Author

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Heribert Gangl

Heribert joined Horwath HTL Austria as Managing Director in December 2015. He has 15 years of experience in the hospitality industry working in hotel operations, consulting and asset management. Before joining Horwath HTL, Heribert worked at Internos Global Investors in London, a European real estate fund manager with € 3.8 billion AUM, where he was responsible for the asset management of the entire hotel portfolio in the group comprising 15 branded hotels with 3,000 rooms and a total value of € 400 million located throughout Europe. He dealt with all legal, technical and contractual aspects of the group’s hotel real estate ownership and actively managed tenant relationships, negotiated lease terms and agreements, approved budgets and FF&E expenditures. Heribert also planned and managed capital expenditure programs and oversaw major hotel renovation / refurbishment projects of more than € 20 million. Previously, Heribert was a Director with Hamilton Hotel Partners involved in all business lines and working on a number of consulting projects and direct management / asset management assignments throughout Europe including UK, Germany, France, Spain, Slovenia and Montenegro. His clients mainly included banks, sovereign wealth funds, private equity firms and high-net-worth individuals. Heribert was also appointed as Managing Director of the operating entity of a 200-rooms health and spa hotel in Slovenia where he was responsible for restructuring the business and preparing the sale on behalf of an international bank. Prior to Hamilton, Heribert spent four years as Consultant and later as Business Development Manager with Kohl & Partner, an international hotel and tourism consulting company, based in Vienna and Budapest. During this time he worked on a wide range of consulting projects in Austria and internationally which included feasibility studies, concept developments, due diligence and acquisition support, operator and investor searches, pre-opening assistance, technical service agreements, asset management and tourism planning. Heribert was also responsible for opening a new office in Budapest and managing the business activities in Hungary. He also gained valuable operational experience following his degree in international hotel management through various internships and working as sales manager in the 5-star hotel Le Meridien Vienna. Heribert holds an MBA from CEU Business School in Budapest, Hungary and graduated from Hawaii Pacific University with a BSc in Travel Industry Management. He also studied at the University of Vienna, Austria and at the NYU Stern School of Business in New York, USA. He is a regular speaker at industry events and conferences as well as author of various industry articles and publications. His main expertise is in the following areas: • Hotel Asset Management • Hotel Real Estate Management • Operator and Investor Search • Acquisition and Development • Renovation and Refurbishment • Business Recovery and Turnaround • Operator Agreements (leases and management) • Concept and Business Development
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