Crystal Liu

Director, Beijing, China

Ms Liu is a Director in the Beijing office.

Report
MarketCompass
Article
Viewpoint

2026Q4-MSI·Hotel Market Sentiment Report

The China Hotel Market Sentiment Survey aims to provide Chinese hoteliers with insights into the industry’s outlook and future performance expectations. This 46th survey conducted by Horwath HTL focuses on expectations for hotel performance in the fourth quarter of 2026, covering three key indicators: occupancy rate, average daily rate (ADR), and total revenue. By comparing the latest findings with historical sentiment indices, the survey highlights regional differences in market expectations across China’s hotel industry. In the performance outlook section, the sentiment index reflects respondents’ overall expectations for hotel market performance. The index ranges from -150 to +150, where “-150” represents an extremely pessimistic outlook, “0” indicates a neutral outlook, and “+150” reflects an extremely optimistic outlook.

Report

When an assessment asks a hotel to do what it never has

Every assessed value on a hotel asserts that it can fill its rooms at a given rate and cost. This paper shows a repeatable test, run on three disguised hotels in Minnesota, Texas and Vermont, of whether an assessment asks for performance the hotel has never achieved.

Bryan Younge
Bryan Younge
Managing Partner, USA
Report

New Zealand Hotel Performance Focus September 2026

New Zealand’s hotel market continued to grow in September, although the gains were increasingly concentrated in internationally exposed markets. Occupancy, room rates and RevPAR all improved at a national level, but the month also showed a clearer divide between markets benefiting from inbound demand and those more reliant on domestic travel. Download the report below to read our full analysis and regional highlights.

Wim Ruepert
Wim Ruepert
Director, New Zealand
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