Crystal Liu

Director, Beijing, China

Ms Liu is a Director in the Beijing office.

Report

Valuing a Hotel Management Company: Read the Hotels Behind the Fees

A hotel management company is worth what the hotels behind its fees will keep paying. Learn how to read competitive position, contract survival and owner economics, then turn them into a defensible multiple, with a hypothetical worked example of a downside case.

Bryan Younge
Bryan Younge
Managing Partner, USA
Report

DACH Hotel & Chains Report 2026 

Branded hotels in Germany, Austria and Switzerland have reached a new high: 4,287 chain hotels with 552,132 rooms now account for 39% of the region’s room supply. The DACH Hotel & Chains Report 2026 ranks the leading groups and brands, maps the development pipeline and explains what drives hotel investment and performance across the three markets. Data as of 30 June 2026.

Christian Buer
Christian Buer
Managing Partner, Germany
Viewpoint

Depreciation and Effective Age

A methodology whitepaper for inclusion in report addenda. Written for an intelligent reader who is not an appraiser.

Bryan Younge
Bryan Younge
Managing Partner, USA
Report

New Zealand Hotel Performance Focus August 2026

August 2026 results showed mixed hotel performance across the country. National RevPAR increased by 10.2% year-on-year, with growth driven solely by strong performances in Queenstown, Auckland and Christchurch. Other key markets recorded either declining RevPAR or only modest year-on-year growth. Download the report below to read our full analysis and regional highlights.

Wim Ruepert
Wim Ruepert
Director, New Zealand
Report

The invisible DMO: AI and the future of destination management

This executive perspective is tailored specifically for destination management leaders, tourism boards, municipal authorities, and travel technology advisors. It delivers actionable strategic intelligence, architectural frameworks, and operational roadmaps designed to guide DMO transformation, data governance, and AI integration across local, regional, and national tourism ecosystems

Siniša Topalović
Siniša Topalović
Managing Partner, Croatia
Report

China Hotel Industry Study 2026

The China Hotel Industry Study, jointly published by the China Tourist Hotel Association (CTHA) and Horwath HTL, is an authoritative annual statistical publication on China’s hotel industry. First published in 2003, it has been published for 24 consecutive years. In 2026, the study collected responses from 1,321 hotels, covering nearly 357,573 guestrooms and more than 437,310 food and beverage seats. The study provides comprehensive insights into hotel operating and financial performance across dimensions including star rating, management model, room rate segment, and city tier. It enables hotel operators to benchmark performance, identify strengths and areas for improvement, and support budgeting and operational decision-making. It also provides valuable market insights for hotel owners, investors, and industry professionals to inform investment and asset management decisions. Based on the internationally recognized Uniform System of Accounts for the Lodging Industry (USALI), the study continuously aligns with international hotel accounting standards, supporting the development of data-driven practices and benchmarking across China’s hotel industry.