“For a territory, the challenge is to successfully transform creativity into innovation that generates value. A creative territory is not merely a concentration of creative inhabitants, it’s about being home to places where creative people feel comfortable, and the right conditions exist for them to innovate. (…) A creative territory is an open-minded territory, one which soaks up the influences, techniques and cultures from the whole word.”
Litigations and disputes are liable to emerge at all stages of a hotel’s lifecycle – from purchasing or investing in the land or property to the construction or renovation of a hotel, and the hotel’s operation. Several actors are implicated at each of these stages: investors, entrepreneurs, suppliers, management companies – just to quote a few.
The world economy over the last decade has been hit by a series of major economic crises and shocks, including the 2008-2009 global financial crisis, the 2010-2012 European sovereign debt crisis and, most recently, the commodity price corrections observed over the period 2014-2016. However, 2017 saw the return of economic growth almost everywhere in the world – the highest level recorded since 2011. The euro zone symbolised this recovery, posting the highest growth in ten years.