Latest news with #Cushman&Wakefield
Entrepreneur
4 days ago
- Business
- Entrepreneur
Mumbai's In-Progress Data Centre Capacity Ranks 6th Globally, Surpassing London and Dublin: Report
Asia Pacific cities continue to demonstrate strong growth momentum with ten of the world's 30 largest data centre markets now being located in the Asia Pacific region. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The global data centre markets are seeing surging demand due to relentless growth and expansion of cloud computing and artificial intelligence (AI) workloads, according to the latest report 'Global Data Centre Market Comparison 2025' by Cushman & Wakefield. The report, covering 97 global markets, highlights power access, land availability, and infrastructure as key factors shaping data centre development. The report reveals that Mumbai ranks sixth globally in under-construction capacity, surpassing global hubs like London, Dublin, demonstrating the city's rapidly growing status as a data centre hub. The data centre industry experienced significant growth in 2024. Asia Pacific cities continue to demonstrate strong growth momentum; ten of the world's 30 largest data centre markets are now in the Asia Pacific region. The report highlights that Asia Pacific ended 2024 with 1.6 GW of new capacity coming online, bringing the region's total operational data centre capacity to 12.2 GW. The development pipeline remains strong, with an additional 14.4 GW of capacity currently under construction or planned. Key drivers such as 5G rollouts, increased cloud adoption, rising digital content consumption, and expanding IoT use cases continue to accelerate demand in the region's data centre sector. These trends have attracted sustained investor interest, supported by rising occupancy levels, stable rental yields, and long-term growth prospects from hyperscale and colocation expansions. With these fundamentals, Asia Pacific is poised for continued growth over the next three to five years. Amid this regional momentum, Mumbai is emerging as a significant contributor to capacity expansion in the APAC region. The report further states that Mumbai ranks as the 7th most established data centre market in the APAC region. At the end of 2024 the city had 335 MW of data centre capacity under construction, which, once completed, will expand its operational capacity by 62 per cent. At the same time, Mumbai accounts for 42 per cent of India's projected under construction capacity—underscoring its growing prominence as a regional data centre hub. The data centre growth is further supported by digital infrastructure upgrades in the city. According to the Cushman & Wakefield India Outlook Report, 2025 may witness the completion of three crucial undersea data cable projects landing in Mumbai. These are expected to significantly increase India's internet capacity and speed, enhancing inter-regional digital connectivity with Africa, Europe, the Middle East, and Asia. The completion of these projects will further elevate Mumbai's position as a major connectivity hub in the Southeast Asian region. Gautam Saraf, Executive Managing Director – Mumbai & New Business, India, Cushman & Wakefield added "India's data centre landscape is undergoing a strategic shift—Mumbai has firmly positioned itself among the top global markets, while Pune is emerging as a key data centre hub in the APAC region. India's data centre sector has attracted prominent international operators and investors, even as domestic players continue to expand capacity. This dual momentum—global confidence and local commitment—underscores the country's readiness to scale sustainably. The next few years will see India add over 2.7 GW of capacity across under-construction and planned projects, reinforcing its position as a future-ready digital infrastructure powerhouse". Ranked fourth among APAC's top emerging data centre markets, Pune is rapidly becoming a preferred destination for hyperscalers and enterprise-grade colocation facilities. As of Q1 2025, Pune's operational data centre stock stands at 112 IT MW. With an additional 190 IT MW of capacity currently in the under-construction or planned stages, across key corridors such as Hinjewadi and Pimpri-Chinchwad, the city is well-positioned for accelerated growth. Major players, including STT GDC, Nxtra by Airtel, and IronMountain are anchoring their presence in the region—attracted by Pune's favorable climate, skilled talent pool, dependable power infrastructure, and strategic connectivity to Mumbai's cable landing stations.
Local Spain
4 days ago
- Business
- Local Spain
Why Spain's Airbnb crackdown will likely make hotels more expensive
Ordering 66,000 illegal Airbnb ads to be taken down, banning tourist apartments in central areas and prohibiting new tourist licences - Spanish national, regional and city authorities appear to finally be taking action against short-term lets. This is all in a bid to return tourist rentals to the general market and help alleviate the housing crisis, which is currently the biggest problem Spanish society is facing. Rising rents and lack of housing mean that thousands are unable to find affordable places to live, an issue particularly affecting young people and those with low incomes. The unintended consequence of this, however, is that with few accommodation options to choose from, hotels don't feel the need to be as competitive and are increasing their prices. This trend has already been several in several places where Airbnb has been banned or the number of tourist apartments drastically limited. In New York, where Airbnb was banned in September 2023, hotel prices rose 20 percent and rents did not drop, forcing many to move out of the city. And in Barcelona, which has been restricting licences for the last 10 years, the average price of a hotel increased to €188 in 2024, from €174 in 2023, according to data from the Barcelona Hotel Guild. Prices are 30 percent more expensive than in 2019. Nevertheless, it's worth noting that hotel prices across the Catalonia region (not just Barcelona) have decreased by 2.1 percent this year, according to Spain's National Statistics Institute, the only region in Spain where they went down. Barcelona is now the third most expensive hotel destination in Spain, behind only Marbella and the Balearic Islands, according to a study by the consulting firm Cushman & Wakefield. Rental prices also rose 72 percent in the Catalan capital, and many apartments did not return to the traditional rental market. They were instead transformed into temporary lets, rented out for a few months rather than holiday lets for a few weeks in order to skirt short-term let legislation. Nine out of ten tenants in Barcelona now have temporary rental contracts, according to a December 2024 study titled 'Renting: insecurity guaranteed by law', published by the Barcelona Urban Research Institute (IDRA). The problem can also be seen in Madrid where landlords prefer short-term rentals of between one and 12 months, avoiding long contracts and price caps. Many even prefer to leave their homes empty rather than take on the legal five-year commitment to rent them out. Furthermore, Madrid city council now only allows tourist apartments in entire buildings dedicated to this purpose in the city centre. Hotel owners in the Spanish capital, which already raised their rates by a record 15.9 percent in 2024, will now feel even more empowered to hike their prices as competition from Airnbnb is decreasing. And it's not only in Spain's two biggest cities where this is happening. Ads for unlicenced Airbnbs in Andalusia, Valencia, the Balearic Islands, and the Basque Country are all being removed. In the Andalusian province of Málaga there are 43,366 illegal tourist homes, according to data from the Ministry of Consumer Affairs and in Valencia, the local government say that there are around 12,000 tourist apartments in the city and the majority of them are illegal. This paves the way for hotels to increase their prices in these regions as well. In Málaga the average daily hotel rate has grown the most in the whole of Spain, with a 21.09 percent increase compared to the same period last year. And in Valencia prices rose by 11.1 percent in 2024 compared to 2023. Taking down ads for illegal apartment rentals isn't the only measure the Spanish authorities have been working on to reduce the number of tourist apartments in top destinations across the country – both legal and illegal. Other regulations include issuing bans on tourist licences in historic central areas and making the rules for getting a tourist licence much stricter such as requiring a tourist apartment to have a separate entrance, to be on a certain level of a building and allowing neighbours to veto the request if they choose. Overall, this increase in hotel prices isn't just affecting foreigners, Spaniards travel a lot within their own country, particularly during key times like Easter and summer. These price hikes are only going to make it harder for the average population to travel too, in addition to struggling to pay rent and mortgages.
Hindustan Times
5 days ago
- Business
- Hindustan Times
Mumbai ranks 6th globally in under-construction data centre capacity, surpassing London and Dublin: Report
Mumbai has secured the 6th spot among 97 global cities in terms of under-construction data centre capacity, overtaking major hubs like London and Dublin, according to a report by Cushman & Wakefield. The report also highlights Pune and Bengaluru, which rank 4th and 5th respectively among Asia-Pacific's emerging data centre hubs. Apart from its global ranking, Mumbai ranks as the 7th established data center market in the Asia Pacific region. At the end of 2024 the city had 335 MW of data center capacity under construction, which, once completed, will expand its operational capacity by 62%. The report covers 97 global markets, highlights power access, land availability, and infrastructure as key factors shaping data center development. Virginia is in first position with 1,834 MW data centre capacity under construction, followed by Atlanta (1,078 MW), Columbus (546 MW), Dallas (500 MW) and Phoenix (478 MW). "At the end of 2024, the city had 335 MW of data centre capacity under construction, which, once completed, will expand its operational capacity by 62 per cent," real estate consultant Cushman & Wakefield (C&W) said. Austin/San Antonio ranks 7th (325MW), Reno 8th (305MW), London 9th (265MW) and Dublin (249 MW), according to C&W's latest 'Global Data Center Market Comparison' report 2025. Mumbai accounts for 42% of India's projected under construction capacity underscoring its growing prominence as a regional data center hub. The data centre growth is further supported by digital infrastructure upgrades in the city. According to the Cushman & Wakefield India Outlook Report, 2025 may witness the completion of three crucial undersea data cable projects landing in Mumbai. Ranked 4th among APAC's top emerging data center markets in Cushman & Wakefield's Global Data Center Market Comparison 2025, Pune is rapidly becoming a preferred destination for hyperscalers and enterprise-grade colocation facilities. As of Q1 2025, Pune's operational data center stock stands at 112 IT MW Global Data Center markets are seeing surging demand due to relentless growth and expansion of cloud computing and Artificial Intelligence workloads according to the latest report by Cushman & Wakefield, Global Data Center Market Comparison 2025. The data center industry experienced significant growth in 2024, Asia Pacific cities continue to demonstrate strong growth momentum, 10 of the world's 30 largest data center markets are now in the Asia Pacific region. The report highlights that Asia Pacific ended 2024 with 1.6 GW of new capacity coming online, bringing the region's total operational data center capacity to 12.2 GW. The development pipeline remains strong, with an additional 14.4 GW of capacity currently under construction or planned. 'India's data center landscape is undergoing a strategic shift. Mumbai has firmly positioned itself among the top global markets, while Pune is emerging as a key data center hub in the APAC region. India's data center sector has attracted prominent international operators and investors, even as domestic players continue to expand capacity,' said Gautam Saraf, executive managing director, Mumbai and New Business, India, Cushman & Wakefield.
Hospitality Net
5 days ago
- Business
- Hospitality Net
Berlin Hotel Market Spotlight YE Mar 2025
OVERVIEW The sample of branded full-service hotels in Berlin recorded a healthy increase in profit during the 12 months ending March 2025. Despite a 9.6% growth in expenses, the GOP per available room (PAR) increased by 4.1%, driven by a 7.9% revenue increase. In Q1 2025, the growth of GOP PAR continued but at a slower pace (+0.3% compared to Q1 2024). The key revenue driver was the Rooms department, with RevPAR increasing by 7.3%, underpinned by a 4.5% growth of occupancy and a 2.6% rise in ADR during YE March 2025. In Q1 2025, RevPAR increased by 4.3%, due to a 5.0% increase in occupancy and despite a 0.7% drop in ADR. Occupancy rates were boosted especially during the winter season, with the most substantial YoY increases in January 2025 (+15.3%), December (+14.8%) and November 2024 (11.9%). The performance growth was supported by the declining supply (-0.1%), as there were several hotel closures during the last 12 months (-1,592 rooms), surpassing the hotel openings (+602 rooms). The primary driver of expense growth was Payroll (+€6.5 PAR), followed by Other Expenses (+€5.1 PAR). Overall, while the nominal GOP PAR increased, the GOP margin declined from 30.7% to 29.6%, due to expenses outpacing revenue growth. As a result, only 15.9% of revenue growth flowed through to the bottom line. Berlin Hotel Market Spotlight 2025 — Source: Cushman & Wakefield & HotStats (data are rounded) — Photo by Cushman & Wakefield Berlin Hotel Market Spotlight 2025 — Source: Cushman & Wakefield & HotStats (data are rounded) — Photo by Cushman & Wakefield SUPPLY Over the last 12 months, the Berlin hotel market saw several new hotel openings but also closures, resulting in an overall 0.1% decrease in total supply (-63 rooms, weighted by opening/closing date). There were 4 notable openings and re-openings (602 rooms) in Berlin during YE Mar 2025. Some hotels also underwent brand conversions, such as Radisson Collection (former Radisson Blue) and Roomers Berlin (Previously Autograph Collection). Most of the new hotels opened in the city center and within the Upper Upscale class (73.1% of new supply) The room additions in Berlin were offset by five hotel closures, of which two were repurposed into other types of assets, such as the Sheraton Grand Esplanade's conversion into a mixed-use building or the City Hotel Berlin East being converted into refugee accommodation. The most significant supply decline was recorded in Berlin Centre West (-668 rooms), followed by Berlin Outer Boroughs (-311 rooms net). Due to two hotel openings and two closures, Berlin Centre East recorded only a marginal supply decline (-11 rooms net) There has been a shift between hotel classes, as most additions were Upper Upscale hotels (+440 rooms), while most rooms closed within the Upscale class (+530 rooms) Berlin Hotel Market Spotlight 2025 — Source: Cushman & Wakefield & STR (data are rounded) — Photo by Cushman & Wakefield COST OF SALES Total Cost of Sales (COS) increased by 3.8% (+€0.7 PAR), driven by F&B (+€0.4 PAR) and Rooms (+€0.3 PAR) departments. PAYROLL COSTS Total payroll costs registered a significant growth compared to last year (+12.6%), rising from €51.3 to €57.8 PAR. This growth partly reflects the increased occupancy and 3.8% increase in the minimum wage implemented in January 2024. The largest labor costs increase was in the F&B department (+€3.1 PAR, a 14.1% increase), followed by the Rooms department (+€1.9 PAR, a 11.7% increase). UTILITIES COSTS The Utilities costs decreased by €0.9 PAR, from €8.7 (PAR) in YE Mar 2024 to €7.8 (PAR) in YE Mar 2025 (-10.7%). OTHER EXPENSES Other Expenses recorded a YoY growth of 12.7%, increasing from €39.8 to €44.9 PAR. This was driven by a +€2.0 PAR rise in Other Expenses within the Rooms department (notably a +€1.2 PAR increase in contract services) and by +€0.6 PAR rise in S&M Other Expenses. Berlin Hotel Market Spotlight 2025 — Source: Cushman & Wakefield & HotStats (data are rounded) — Photo by Cushman & Wakefield Berlin Hotel Market Spotlight 2025 — Source: Cushman & Wakefield & HotStats (data are rounded) — Photo by Cushman & Wakefield Berlin Hotel Market Spotlight 2025 — Source: Cushman & Wakefield & HotStats (data are rounded) — Photo by Cushman & Wakefield About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity, and Inclusion (DEI), sustainability and more. For additional information, visit Christine Mayer Head Of Hospitality Valuation, Germany Cushman & Wakefield
Mint
5 days ago
- Business
- Mint
Mumbai at 6th place among 97 cities globally in under-construction data centre capacity: report
New Delhi, Jun 3 (PTI) Mumbai ranks 6th among 97 cities globally in data centre capacities under construction, according to Cushman & Wakefield. Virginia is in first position with 1,834 MW data centre capacity under construction, followed by Atlanta (1,078 MW), Columbus (546 MW), Dallas (500 MW) and Phoenix (478 MW). Mumbai ranks 6th globally in under-construction data centre capacity. "At the end of 2024, the city had 335 MW of data centre capacity under construction, which, once completed, will expand its operational capacity by 62 per cent," real estate consultant Cushman & Wakefield (C&W) said. Austin/San Antonio ranks 7th (325MW), Reno 8th (305MW), London 9th (265MW) and Dublin (249 MW), according to C&W's latest 'Global Data Center Market Comparison' report 2025. The report, covering 97 global markets, attributes this growth to surging demand fuelled by the expansion of cloud computing and AI workloads. Key factors shaping data centre development include power availability, land access, and supporting infrastructure. "Mumbai leads the APAC region with 335 MW of data centre capacity under construction and ranks among the top 10 global markets by this metric. Once completed, this will expand the city's operational market size by 62 per cent," Gautam Saraf, Executive Managing Director - Mumbai & New Business, India at Cushman & Wakefield, said. He noted that several factors are driving this momentum - a strong digital backbone, a reliable power supply, and sustained demand from hyperscalers. "As India's financial capital and economic hub, Mumbai already accounts for over half of the country's data centre capacity and continues to attract major global operators," Saraf said. Key enablers include 12 cable landing stations, the recent MIST cable landing, and a robust pipeline of upcoming infrastructure, he said. "While challenges around land availability and power persist in certain locations, the city's long-term fundamentals remain highly compelling for sustained growth," Saraf said.
