Colliers International: Recovery to the level of 2019 is expected only around 2022 or 2023

first_imgThe next webinar table will be on topic “Logistics and distribution – did we take the opportunity?” and will be held in Monday, 19.10.2020/10/XNUMX at XNUMX o’clock on ZOOM, with a live broadcast on YouTube channel i Facebook profile Colliers International Croatia.  “As for overnight stays in commercial accommodation, the biggest losers this season are the hotels with the largest drop in overnight stays, by more than 70% compared to last year. Precisely because of the possibility of isolation and easier distance maintenance, camps and private accommodation, despite the loss, showed much greater resilience.. “, He concluded Ivan Laljak, Consultant from the Appraisal and Investment Advisory Department. “What we have noticed is that holiday tourism is recovering faster and easier, unlike the segment of city hotels that is still suffering, as business meetings and conferences have switched to digital and online platforms. We also expect that apartments in larger cities that were used for short-term rental to tourists will be switched to a long-term rental offer. It is the health pandemic that has accelerated the development of technology, such as the increasing use of contactless payments, the introduction of digital check-in station, or enabling check in via mobile devices”, Laljak gave us a closer look at the trends. trends As the first half of the year was marked by a complete lockdown, not only did holiday tourism stop, but business travel was replaced by video conferencing. This resulted record low occupancy rates worldwide. In the first half of the year, revenues of the main hotel groups in Croatia fell by 70% to 80% compared to the first half of 2019. Croatian hotel groups generate the majority of revenue in Q3, and we will only find out the final results. It is important to emphasize that the decline in hotel traffic was more conditioned by the decline in occupancy, while overnight prices remained relatively stable. In announcing the season in late May and early June, a period marked by great uncertainty, including border closures and epidemiological measures and restrictions, about 30% of last year’s turnover was forecast. In the world, European, and consequently in the domestic capital market in the period from February to March this year corrected the share prices of leading tourist companies by up to 50%, which testifies to the great fear and caution of investors in that period. In the meantime, prices on the Croatian market have partially recovered, but are still below the pre-crisis level since the beginning of the year. Despite the uncertainty, the general consensus is that a recovery to the 2019 level is not expected until around 2022 or 2023. “Despite the circumstances, we witnessed the great demand of Croatia as a tourist destination from mid-July to the end of August. Unfortunately, closing the borders and prescribing the necessary tests for COVID-19 when entering the country, had the effect of shortening the season and lost part of the tourists who decided to return to their home countries so as not to get stuck at the border. We do not expect major structural changes in the tourism sector in the long run, as demand remains stable.”, He said Filip Dumbović, Senior Consultant from the Appraisal and Investment Advisory Department. The Croatian National Tourist Board has published the latest data showing that they are the achieved results are still better than expected. Namely, in the first 9 months, about 40% of arrivals and 50% of overnight stays were realized compared to the same period last year. There were fewer tourists, but on average they stayed longer in Croatia and the average length of stay per guest was over 7 days. Brownfield and greenfield investments in larger hotel projects for which the financial issue has been resolved and which are in the process of construction have been continued, while most projects that were still under consideration were postponed. She was noticed high demand for hotel portfolios and for hotels with more than 100 rooms. Sellers who are not forced to sell real estate and whose moratorium and government measures have eased the situation hold the price while on the other hand investors want to take advantage of the circumstances and seek discount opportunities. Colliers International Croatia, Slovenia & BiH has started a new cycle of presenting the situation on the real estate market to a wider audience. In a slightly different format from the summer round tables with renowned players on the market, as webinars under the umbrella title “2020 – what impact has it had on the market and what else can we expect from it? ” for 30 minutes every Monday at 10 a.m. gives a review of one real estate sector. They are today Filip Dumbović, Senior Consultant, and Ivan Laljak, A consultant from the Department of Appraisals and Investment Advisory, presented the true state of the previous tourist season and explained in more detail investments in the HTL segment. “There are two main reasons why Zadar is the southernmost destination in the top 10 in terms of the number of overnight stays this year. The first reason is the higher share of domestic tourists, and the second reason is the stronger resilience of destinations based on road transport, while higher losses were recorded by destinations dependent on air transport, such as Split and Dubrovnik, “explained Laljak. Accommodation capacity Among the most significant transactions are the acquisition of HTP Orebić by pension funds, the redistribution of shares in Kharisma hotels taken over by TUI Group from Fortenova and Hotel Riviera in Pula which Arenaturist bought from the Republic of Croatia. Positive expectations remain in the investment market for the end of the year. Certain key factors like quality of supply and content, proximity to major emitting markets and a small number of reported cases of infection showed how Istria has maintained the status of the most desirable destination and leading tourist region in terms of the number of overnight stays in Croatia this year. In the top 10 most sought after destinations this summer no Dubrovnik, while it topped last year with 3,8 million overnight stays. Vir is the absolute winner this year with over 2 million overnight stays, but with almost 80% of overnight stays realized in non-commercial accommodation. John introduced how the development of tourism moved, an important industry in Croatia, which has close to 17% share in gross value added (total direct and indirect effects of tourism), looking mostly at the results of this year’s tourist season and which are expectations and forecasts for the future period. Tourism development “What came to life during the health pandemic is the so-called Hybrid hospitality: hotels to work in. This concept combines hotel services with flexible office space. Namely, certain hotels with a low level of occupancy have become an extension of office space in such a way that lobbies are used for meetings and hotel rooms for work. In Europe, we see interesting conversions of hotels into business premises, so we are witnessing the conversion of hotels into nursing homes”, Explained Dumbović. You can also watch a recording of the lecture on the YT channel, below. The strong development of tourism in Croatia has been noticed for the past 10 years, which is shown to us year by year by the numbers in arrivals and overnight stays. The growth of physical indicators was accompanied by the growth of revenues from tourism, which in the period from 2011 to 2019 grew at an average annual rate of 7.5%. Record 2019 revenues from tourism amounted to over 10,5 billion euros. Prema CBS-u, it was recorded last year 19,3 million arrivals and 90,7 million overnight stays in commercial accommodation. Figures by Croatian National Tourist Board (data by system eVisitor), are even larger as they include both commercial and non-commercial accommodation. Croatian tourism strongly depends on foreign tourists who generated as much as 92% of total overnight stays last year. Looking at the regions, most overnight stays were realized in the County of Istria – as much as 29% of all overnight stays in Croatia in 2019. As the biggest pain of our tourism is emphasized precisely seasonality, characterized by the highest activity in the summer months. At last year’s level, July and August generated almost 60% of all overnight stays, and together with June and September as much as 84% ​​of total overnight stays. Investments in the hotel segment Photo: Engin_Akyurt, Pixabay.comlast_img read more

Governor Wolf Announces Establishment of New Charter School Division (Round-up)

first_img By: Eryn Spangler, Press Assistant August 26, 2016 Allentown Morning Call: Gov. Tom Wolf seeks more charter school oversight“Making good on a campaign promise to put tighter oversight controls on taxpayer-funded charter schools, Gov. Tom Wolf on Wednesday established a four-person unit within the state Department of Education to oversee the nontraditional public institutions.”Philadelphia Inquirer: Pa. seeks better results, oversight with new charter school division“Wolf’s office said the new division would assist charter schools in setting goals for student achievement, increasing parent and community involvement, and ensuring academic and financial responsibility.”WHYY Newsworks: Pa. department of education enhancing oversight of charter schools“The division will take a specific interest in the health of the cyber charter sector – schools which are authorized at the state level and, overall, have a track record of poor performance.”Beaver County Times: Gov. Wolf announces new state division for charter school oversight“The Division of Charter Schools will help heighten accountability by overseeing fiscal and education programming reviews for charters and scrutinizing the reauthorization process for cyber charters, which the Department of Education administers.” SHARE Email Facebook Twitter Like Governor Tom Wolf on Facebook: Governor Wolf Announces Establishment of New Charter School Division (Round-up)   SHARE  TWEET Round-Up,  Schools That Teach,  The Blog Yesterday, Governor Wolf announced the establishment of the Pennsylvania Department of Education Division of Charter Schools as an effort to improve quality and accountability of charter schools across the commonwealth. The office will assist charter school educators and leaders in setting goals to advance student achievement, increase parent and community involvement, and ensure academic and financial responsibility.“Charter schools play an important role in our education system, but that role must be accompanied by sufficient oversight,” Governor Wolf said. “Establishing this new division within the Department of Education will allow us to maximize our resources to not only ensure charters are being properly supported, but that they are being held accountable to taxpayers.”Take a look at the coverage below:last_img read more

Thomas Scott Back, 18

first_imgThomas Scott Back, 18, Clearwater, Florida, passed away on Sunday, August 16, 2020 in Tampa, Florida. He was born, May 1, 2002 in Greensburg, Indiana, he was survived by his parents, Scott R. and Jennifer L. (Mahan) Back and two brothers, Michael Back and Clayton Back.He had a vibrant energy that drew people in and he could make you smile no matter the situation. He loved to travel and try new things. He recently finished his associates degree from Saint Petersburg College and planned to start flight school soon. He enjoyed going to car shows, parks to explore, playing with his dog Luna, stargazing, and most of all, he enjoyed watching sunsets anywhere, but especially sunsets over the water.While observing CDC and state guidelines for social distancing and required facial coverings, public visitation will be held on Tuesday, August 25,2020 from 9:00 a.m. until 10:45 a.m. at the St. Mary’s Catholic Church in Greensburg. Funeral mass will follow at 11:00 a.m. with Rev. John Meyer officiating. Interment will be held in the St. Mary’s Catholic Cemetery in Greensburg.  Online condolences can be made to the family at www.popfuneralhome.comlast_img read more