According to a report in Britain’s The Daily Telegraph, not all the 100 yachts that had been booked for Mipim will be used. In fact, they give the precise figure of 36 being cancelled. If true, this is not surprising. It’s obvious that given the current financing crisis, most companies are looking more carefully at expenses. What is sometimes overlooked, however, is that these yachts also double up as accommodation. The incredible popularity of Mipim means that people are sometimes in hotels as far away as Nice, which is very impractical. Last year, the organisers even parked a liner in the bay to help with accommodation, although rough weather meant that some of the guests couldn’t get off!
A quick look at the hotel bookings in Cannes shows that there are still rooms available close to town.
On its site, Mipim points out that a downturn in property value offers better opportunities for investors. It also highlights a number of interesting projects in Shanghai, Paris, Duisburg and Cologne.