Authentic and unique experiences are key drivers of value creation in hospitality, as luxury and lifestyle segments are increasingly attracting investors’ attention over more standardised assets. Fredrik Andersson, Vice President in Mohari Hospitality’s investments team shares his views on the challenges and opportunities in the sector, and ahead of his participation to IHIF EMEA 2026 in Berlin.
Hospitality Investor: What factors are currently shaping hospitality investment opportunities in Europe?
Fredrik Andersson: In the segments we focus on, capital is active, debt markets are functioning well, and we see strong competition for high-quality assets. The biggest constraint today is not capital or financing, rather, it is the ability to create a distinctive offering with original and unique experiences.
One structural trend we are watching closely is concept and brand convergence. Many new offerings are operationally excellent but increasingly similar from a guest perspective. That dynamic will create space for new luxury hotels and assets that can define a clear point of view and are able to deliver distinctive guest experiences. The next phase of value creation will favour owners who can combine real estate discipline with creative and operational conviction, rather than relying on capital structuring or brand alone.
Hospitality Investor: What makes Nordic markets particularly attractive to hospitality investors and brands in 2026?
Fredrik Andersson: The Nordics are one of the few regions globally where luxury demand is structurally underserved. Demand exists. Supply is constrained by planning friction, and build economics. These barriers create long-term pricing power for the assets that are ultimately built.
The Nordics naturally support experience-led hospitality rather than standardised global luxury. The region has very limited existing luxury supply, but culturally, there is a strong alignment with nature, seasonality, and authenticity of place, which creates the conditions for exceptional experiences. This is what we believe tomorrow's travellers will be after.
Hospitality Investor: Where do you see the strongest opportunities for value creation today?
Fredrik Andersson: True value creation is increasingly coming from real estate complexity rather than operational optimisation. If you are not solving planning, heritage, CapEx, or capital structure complexity, you are likely competing for returns rather than creating value.
At Mohari, we focus on luxury conversions and asset repositioning, particularly heritage assets, where the spread between acquisition cost and stabilised value can be substantial. Capturing that value takes time, deep operator relationships, and the ability to navigate complexity across multi-year developments.
Hospitality Investor: Which hospitality segments do you currently see as the most investable, and how has that assessment changed from last year?
Fredrik Andersson: Ultra-luxury and experience-led destination assets continue to outperform because they are harder to substitute. What has changed is investor selectivity. There is less appetite for concepts designed to appeal to the broadest possible audience. Capital is moving towards assets with a clear point of view and demonstrated track record. In a market defined by scarcity, conviction and the ability to create something exceptional have become the competitive advantage.
Hospitality Investor: As you come to IHIF EMEA, which themes or debates do you expect will shape the next phase of hospitality investment in the region?
Fredrik Andersson: Differentiation will become central. The industry is launching more brands and concepts than ever, yet many guest experiences are becoming more similar. Truly distinctive concepts are harder to build and slower to scale, and that often requires making a deliberate trade-off between breadth and depth. The next phase of outperformance is likely to come from assets that are intentionally narrow in positioning and deeply authentic to location and concept. That is the thesis guiding our investment strategy.
Hear more from Fredrik Andersson at IHIF EMEA 2026, where he will join the discussion on The Nordic frontier – Mapping the new landscape for hotel investment in the region .