Crystal Liu

Director, Beijing, China

Ms Liu is a Director in the Beijing office.

Management Contracts – the challenge of balance

Hotel management agreements are often presented as balanced partnerships, but a closer read reveals an asymmetry of control, risk, and liability that increasingly favours the Operator over the Owner. This white paper examines that imbalance across four critical fronts – data security liability, performance test rigidity, contract duration and sunset rights, and brand proliferation – drawing on decades of industry experience and evolving market and legal realities. It argues that as HMAs face new pressures from data privacy legislation and shifting market conditions, both existing and future agreements must be renegotiated to restore genuine balance between Owner and Operator.

Vijay Thacker
Vijay Thacker
Managing Director, India
Report

Mexico hotel industry report 2025: Market intelligence, hotel supply, and pipeline analysis

This report is tailored specifically for strategic advisors, institutional investors, developers, and key stakeholders across the hospitality, tourism, and real estate sectors. Horwath HTL delivers actionable market intelligence, performance benchmarks, and pipeline analysis designed to guide high-level capital deployment, asset positioning, and strategic decision-making throughout Mexico.

Fabián Sánchez
Fabián Sánchez
Managing Director, Mexico
Viewpoint

Beyond the spa: The commercial and investor guide to NZ hotel wellness

This report provides commercial intelligence tailored specifically for hotel investors, asset managers, and operators across New Zealand. It delivers market data, P&L economics, and a structured decision-making framework to guide capital deployment, asset positioning, and wellness amenity integration.

Douglas Drummond
Douglas Drummond
Director – Tourism and Leisure, New Zealand
Viewpoint

From Heritage to Headline Sector: The Rise of Spa Hotels & Resorts in the Baltic States

This report is tailored specifically for strategic advisors, institutional investors, developers, and key stakeholders across the hospitality, tourism, and real estate sectors. It delivers actionable market intelligence, performance benchmarks, and pipeline analysis designed to guide high-level capital deployment, asset positioning, and strategic decision-making throughout the Baltic region.

Arvydas Balčiūnas
Arvydas Balčiūnas
Managing Director, Lithuania
Report

New Zealand Hotel Performance Focus July 2026

New Zealand’s hotel market recorded another strong month of growth in July, with nationwide RevPAR increasing 14% year-on-year. Download the report below to read our full analysis and regional highlights.

Wim Ruepert
Wim Ruepert
Director, New Zealand
Viewpoint

Why generic “Eco-Friendly” Hotel claims Are About to Become a major legal & financial risk

Generic “Eco-Friendly” Hotel claims are about to become a major legal & financial risk. Starting September 2026, EU Directive 2024/825 establishes strict consumer protection standards prohibiting generic green claims, unverified self-badges, and carbon-offset neutral statements. Applying globally to any operator targeting EU consumers, this guide decodes what hoteliers can legally say – and the verified data infrastructure required to back it up.

Alex Smith
Alex Smith
Partner