Dayk Balyozyan
Senior Associate
Dayk Balyozyan has been a Consultant with HVS since 2024. Prior to rejoining HVS, he spent three years (2019–2023) as part of the asset management and transactions team at L+R Hotels, one of the world’s largest private hospitality investment firms.
From 2015 to 2019, Dayk was a Senior Associate at HVS’s London office, where he led valuations, feasibility studies, and consulting projects across Europe and Africa, building a deep understanding of the global hospitality market.
Earlier in his career, Dayk gained experience in management consulting and banking in Paris and New York. He also held a role in the finance department at Accor’s Middle Eastern headquarters in Dubai, where he developed valuable insights into the hotel industry.
Dayk holds a Master’s in Management with a specialisation in Corporate Finance from Toulouse Business School.
From 2015 to 2019, Dayk was a Senior Associate at HVS’s London office, where he led valuations, feasibility studies, and consulting projects across Europe and Africa, building a deep understanding of the global hospitality market.
Earlier in his career, Dayk gained experience in management consulting and banking in Paris and New York. He also held a role in the finance department at Accor’s Middle Eastern headquarters in Dubai, where he developed valuable insights into the hotel industry.
Dayk holds a Master’s in Management with a specialisation in Corporate Finance from Toulouse Business School.
ARMENIA
Feasibility Study - Proposed Luxury Hotel, Yerevan
BELGIUM
Valuation - Crowne Plaza Brussels Airport
Feasibility Study - Upscale Hotel Brussels Airport
Feasibility Study - Lifestyle Luxury Hotel Sterrebeek, Brussels
CAPE VERDE
Feasibility Study - Proposed Melia Resort Hotel
CZECH REPUBLIC
Valuation - Sheraton Prague
Feasibility Study - Proposed Resort Hotel, Konopiste
DENMARK
Valuation - Adina Hotel Copenhagen
EGYPT
Operational Review - Hyatt Regency Sharm El Sheikh
FRANCE
Valuation - Mandarin Oriental, Paris
Valuation - Marriott Champs Elysees, Paris
Valuation - Marriott Ambassador, Paris
Valuation - Crowne Plaza République, Paris
Valuation - citizenM CDG, Paris
Valuation - Le Méridien Etoile, Paris
Valuation - Sofitel Le Faubourg, Paris
Valuation - Les Bains, Paris
Valuation - Grand Hyatt Hotel Martinez, Cannes
Valuation - Hyatt Regency Palais de la Méditerranée, Nice
Valuation - Royal Riviera, Saint-Jean-Cap-Ferrat
Valuation - Portfolio of 4 hotels, Paris, Cannes, Nice
Valuation - Hotel du Couvent, Nice
Feasibility Study - Proposed Airport Hotel, Toulouse
GERMANY
Valuation - Crowne Plaza Hamburg
Valuation - Hilton Berlin
Valuation - Holiday Inn Express Berlin City Centre
Feasibility Study - Proposed Lifestyle Hotel, Berlin
ITALY
Valuation - Westin and St. Regis, Florence
Valuation - St. Regis, Rome
Valuation - San Domenico Palace, Taormina, A Four Seasons Hotel
Valuation - Hotel Danieli, Venice
Valuation - Le Ginestre, Costa Smeralda
NETHERLANDS
Valuation - Holiday Inn Amsterdam
Valuation - Renaissance Hotel, Amsterdam
Valuation - Park Hotel, Amsterdam
Valuation - Crowne Plaza Schiphol Airport
Feasibility Study - Proposed Three-Star Hotel, Schiphol
Feasibility Study - Proposed Meininger Hotel, Amsterdam
PORTUGAL
Valuation - Four Seasons, Ritz Hotel, Lisbon
Feasibility Study - Vale do Lobo Resort, Algarve
Feasibility Study - Monte Rei Hotel & Spa, Algarve
SPAIN
Feasibility and Valuation - Proposed Luxury Lifestyle Hotel, Ibiza
SWEDEN
Valuation - Sheraton Stockholm
SWITZERLAND
Feasibility - Proposed Hotel, Morges
Feasibility - Proposed Serviced Apartment, Geneva
UNITED ARAB EMIRATES
Feasibility - Proposed Medical Spa and Wellness Hotel, Abu Dhabi
UNITED KINGDOM
Valuation - Corinthia Hotel, London
Valuation - Dorsett Shepherds Bush, London
Valuation - Dorsett City, London
Valuation - DoubleTree by Hilton Westminster, London
Valuation - Two Ibis Hotels, Birmingham and Coventry
Valuation - 20 IHG hotels in the UK
Valuation - Principal Portfolio, UK
Feasibility Study - Three-Star Hotel in Olympia, London
Feasibility Study - Proposed Three-star Hotel, Stockton
Feasibility Study - Proposed Meininger Hotel, Manchester
Feasibility Study - Proposed Luxury Hotel, Hampshire
Feasibility Study - Proposed Golf Hotel in Northern Ireland
ZAMBIA
Feasibility Study and Valuation - Intercontinental Lusaka
OTHER
Valuation - Portfolio of 15 hotels, Various European Cities
Valuation - Portfolio of 7 Corinthia hotels, Various European Cities
Feasibility Study - Proposed Luxury Hotel, Yerevan
BELGIUM
Valuation - Crowne Plaza Brussels Airport
Feasibility Study - Upscale Hotel Brussels Airport
Feasibility Study - Lifestyle Luxury Hotel Sterrebeek, Brussels
CAPE VERDE
Feasibility Study - Proposed Melia Resort Hotel
CZECH REPUBLIC
Valuation - Sheraton Prague
Feasibility Study - Proposed Resort Hotel, Konopiste
DENMARK
Valuation - Adina Hotel Copenhagen
EGYPT
Operational Review - Hyatt Regency Sharm El Sheikh
FRANCE
Valuation - Mandarin Oriental, Paris
Valuation - Marriott Champs Elysees, Paris
Valuation - Marriott Ambassador, Paris
Valuation - Crowne Plaza République, Paris
Valuation - citizenM CDG, Paris
Valuation - Le Méridien Etoile, Paris
Valuation - Sofitel Le Faubourg, Paris
Valuation - Les Bains, Paris
Valuation - Grand Hyatt Hotel Martinez, Cannes
Valuation - Hyatt Regency Palais de la Méditerranée, Nice
Valuation - Royal Riviera, Saint-Jean-Cap-Ferrat
Valuation - Portfolio of 4 hotels, Paris, Cannes, Nice
Valuation - Hotel du Couvent, Nice
Feasibility Study - Proposed Airport Hotel, Toulouse
GERMANY
Valuation - Crowne Plaza Hamburg
Valuation - Hilton Berlin
Valuation - Holiday Inn Express Berlin City Centre
Feasibility Study - Proposed Lifestyle Hotel, Berlin
ITALY
Valuation - Westin and St. Regis, Florence
Valuation - St. Regis, Rome
Valuation - San Domenico Palace, Taormina, A Four Seasons Hotel
Valuation - Hotel Danieli, Venice
Valuation - Le Ginestre, Costa Smeralda
NETHERLANDS
Valuation - Holiday Inn Amsterdam
Valuation - Renaissance Hotel, Amsterdam
Valuation - Park Hotel, Amsterdam
Valuation - Crowne Plaza Schiphol Airport
Feasibility Study - Proposed Three-Star Hotel, Schiphol
Feasibility Study - Proposed Meininger Hotel, Amsterdam
PORTUGAL
Valuation - Four Seasons, Ritz Hotel, Lisbon
Feasibility Study - Vale do Lobo Resort, Algarve
Feasibility Study - Monte Rei Hotel & Spa, Algarve
SPAIN
Feasibility and Valuation - Proposed Luxury Lifestyle Hotel, Ibiza
SWEDEN
Valuation - Sheraton Stockholm
SWITZERLAND
Feasibility - Proposed Hotel, Morges
Feasibility - Proposed Serviced Apartment, Geneva
UNITED ARAB EMIRATES
Feasibility - Proposed Medical Spa and Wellness Hotel, Abu Dhabi
UNITED KINGDOM
Valuation - Corinthia Hotel, London
Valuation - Dorsett Shepherds Bush, London
Valuation - Dorsett City, London
Valuation - DoubleTree by Hilton Westminster, London
Valuation - Two Ibis Hotels, Birmingham and Coventry
Valuation - 20 IHG hotels in the UK
Valuation - Principal Portfolio, UK
Feasibility Study - Three-Star Hotel in Olympia, London
Feasibility Study - Proposed Three-star Hotel, Stockton
Feasibility Study - Proposed Meininger Hotel, Manchester
Feasibility Study - Proposed Luxury Hotel, Hampshire
Feasibility Study - Proposed Golf Hotel in Northern Ireland
ZAMBIA
Feasibility Study and Valuation - Intercontinental Lusaka
OTHER
Valuation - Portfolio of 15 hotels, Various European Cities
Valuation - Portfolio of 7 Corinthia hotels, Various European Cities
Hotel Management Contracts in Europe
This article reviews the main terms of hotel management contracts in Europe. The terms provided are broad indications only, and can vary significantly depending on element such as asset class, location, brand, operator and type of investor.
Dayk Balyozyan
Senior Associate
Dayk Balyozyan has been a Consultant with HVS since 2024. Prior to rejoining HVS, he spent three years (2019–2023) as part of the asset management and transactions team at L+R Hotels, one of the world’s largest private hospitality investment firms.
From 2015 to 2019, Dayk was a Senior Associate at HVS’s London office, where he led valuations, feasibility studies, and consulting projects across Europe and Africa, building a deep understanding of the global hospitality market.
Earlier in his career, Dayk gained experience in management consulting and banking in Paris and New York. He also held a role in the finance department at Accor’s Middle Eastern headquarters in Dubai, where he developed valuable insights into the hotel industry.
Dayk holds a Master’s in Management with a specialisation in Corporate Finance from Toulouse Business School.
From 2015 to 2019, Dayk was a Senior Associate at HVS’s London office, where he led valuations, feasibility studies, and consulting projects across Europe and Africa, building a deep understanding of the global hospitality market.
Earlier in his career, Dayk gained experience in management consulting and banking in Paris and New York. He also held a role in the finance department at Accor’s Middle Eastern headquarters in Dubai, where he developed valuable insights into the hotel industry.
Dayk holds a Master’s in Management with a specialisation in Corporate Finance from Toulouse Business School.
ARMENIA
Feasibility Study - Proposed Luxury Hotel, Yerevan
BELGIUM
Valuation - Crowne Plaza Brussels Airport
Feasibility Study - Upscale Hotel Brussels Airport
Feasibility Study - Lifestyle Luxury Hotel Sterrebeek, Brussels
CAPE VERDE
Feasibility Study - Proposed Melia Resort Hotel
CZECH REPUBLIC
Valuation - Sheraton Prague
Feasibility Study - Proposed Resort Hotel, Konopiste
DENMARK
Valuation - Adina Hotel Copenhagen
EGYPT
Operational Review - Hyatt Regency Sharm El Sheikh
FRANCE
Valuation - Mandarin Oriental, Paris
Valuation - Marriott Champs Elysees, Paris
Valuation - Marriott Ambassador, Paris
Valuation - Crowne Plaza République, Paris
Valuation - citizenM CDG, Paris
Valuation - Le Méridien Etoile, Paris
Valuation - Sofitel Le Faubourg, Paris
Valuation - Les Bains, Paris
Valuation - Grand Hyatt Hotel Martinez, Cannes
Valuation - Hyatt Regency Palais de la Méditerranée, Nice
Valuation - Royal Riviera, Saint-Jean-Cap-Ferrat
Valuation - Portfolio of 4 hotels, Paris, Cannes, Nice
Valuation - Hotel du Couvent, Nice
Feasibility Study - Proposed Airport Hotel, Toulouse
GERMANY
Valuation - Crowne Plaza Hamburg
Valuation - Hilton Berlin
Valuation - Holiday Inn Express Berlin City Centre
Feasibility Study - Proposed Lifestyle Hotel, Berlin
ITALY
Valuation - Westin and St. Regis, Florence
Valuation - St. Regis, Rome
Valuation - San Domenico Palace, Taormina, A Four Seasons Hotel
Valuation - Hotel Danieli, Venice
Valuation - Le Ginestre, Costa Smeralda
NETHERLANDS
Valuation - Holiday Inn Amsterdam
Valuation - Renaissance Hotel, Amsterdam
Valuation - Park Hotel, Amsterdam
Valuation - Crowne Plaza Schiphol Airport
Feasibility Study - Proposed Three-Star Hotel, Schiphol
Feasibility Study - Proposed Meininger Hotel, Amsterdam
PORTUGAL
Valuation - Four Seasons, Ritz Hotel, Lisbon
Feasibility Study - Vale do Lobo Resort, Algarve
Feasibility Study - Monte Rei Hotel & Spa, Algarve
SPAIN
Feasibility and Valuation - Proposed Luxury Lifestyle Hotel, Ibiza
SWEDEN
Valuation - Sheraton Stockholm
SWITZERLAND
Feasibility - Proposed Hotel, Morges
Feasibility - Proposed Serviced Apartment, Geneva
UNITED ARAB EMIRATES
Feasibility - Proposed Medical Spa and Wellness Hotel, Abu Dhabi
UNITED KINGDOM
Valuation - Corinthia Hotel, London
Valuation - Dorsett Shepherds Bush, London
Valuation - Dorsett City, London
Valuation - DoubleTree by Hilton Westminster, London
Valuation - Two Ibis Hotels, Birmingham and Coventry
Valuation - 20 IHG hotels in the UK
Valuation - Principal Portfolio, UK
Feasibility Study - Three-Star Hotel in Olympia, London
Feasibility Study - Proposed Three-star Hotel, Stockton
Feasibility Study - Proposed Meininger Hotel, Manchester
Feasibility Study - Proposed Luxury Hotel, Hampshire
Feasibility Study - Proposed Golf Hotel in Northern Ireland
ZAMBIA
Feasibility Study and Valuation - Intercontinental Lusaka
OTHER
Valuation - Portfolio of 15 hotels, Various European Cities
Valuation - Portfolio of 7 Corinthia hotels, Various European Cities
Feasibility Study - Proposed Luxury Hotel, Yerevan
BELGIUM
Valuation - Crowne Plaza Brussels Airport
Feasibility Study - Upscale Hotel Brussels Airport
Feasibility Study - Lifestyle Luxury Hotel Sterrebeek, Brussels
CAPE VERDE
Feasibility Study - Proposed Melia Resort Hotel
CZECH REPUBLIC
Valuation - Sheraton Prague
Feasibility Study - Proposed Resort Hotel, Konopiste
DENMARK
Valuation - Adina Hotel Copenhagen
EGYPT
Operational Review - Hyatt Regency Sharm El Sheikh
FRANCE
Valuation - Mandarin Oriental, Paris
Valuation - Marriott Champs Elysees, Paris
Valuation - Marriott Ambassador, Paris
Valuation - Crowne Plaza République, Paris
Valuation - citizenM CDG, Paris
Valuation - Le Méridien Etoile, Paris
Valuation - Sofitel Le Faubourg, Paris
Valuation - Les Bains, Paris
Valuation - Grand Hyatt Hotel Martinez, Cannes
Valuation - Hyatt Regency Palais de la Méditerranée, Nice
Valuation - Royal Riviera, Saint-Jean-Cap-Ferrat
Valuation - Portfolio of 4 hotels, Paris, Cannes, Nice
Valuation - Hotel du Couvent, Nice
Feasibility Study - Proposed Airport Hotel, Toulouse
GERMANY
Valuation - Crowne Plaza Hamburg
Valuation - Hilton Berlin
Valuation - Holiday Inn Express Berlin City Centre
Feasibility Study - Proposed Lifestyle Hotel, Berlin
ITALY
Valuation - Westin and St. Regis, Florence
Valuation - St. Regis, Rome
Valuation - San Domenico Palace, Taormina, A Four Seasons Hotel
Valuation - Hotel Danieli, Venice
Valuation - Le Ginestre, Costa Smeralda
NETHERLANDS
Valuation - Holiday Inn Amsterdam
Valuation - Renaissance Hotel, Amsterdam
Valuation - Park Hotel, Amsterdam
Valuation - Crowne Plaza Schiphol Airport
Feasibility Study - Proposed Three-Star Hotel, Schiphol
Feasibility Study - Proposed Meininger Hotel, Amsterdam
PORTUGAL
Valuation - Four Seasons, Ritz Hotel, Lisbon
Feasibility Study - Vale do Lobo Resort, Algarve
Feasibility Study - Monte Rei Hotel & Spa, Algarve
SPAIN
Feasibility and Valuation - Proposed Luxury Lifestyle Hotel, Ibiza
SWEDEN
Valuation - Sheraton Stockholm
SWITZERLAND
Feasibility - Proposed Hotel, Morges
Feasibility - Proposed Serviced Apartment, Geneva
UNITED ARAB EMIRATES
Feasibility - Proposed Medical Spa and Wellness Hotel, Abu Dhabi
UNITED KINGDOM
Valuation - Corinthia Hotel, London
Valuation - Dorsett Shepherds Bush, London
Valuation - Dorsett City, London
Valuation - DoubleTree by Hilton Westminster, London
Valuation - Two Ibis Hotels, Birmingham and Coventry
Valuation - 20 IHG hotels in the UK
Valuation - Principal Portfolio, UK
Feasibility Study - Three-Star Hotel in Olympia, London
Feasibility Study - Proposed Three-star Hotel, Stockton
Feasibility Study - Proposed Meininger Hotel, Manchester
Feasibility Study - Proposed Luxury Hotel, Hampshire
Feasibility Study - Proposed Golf Hotel in Northern Ireland
ZAMBIA
Feasibility Study and Valuation - Intercontinental Lusaka
OTHER
Valuation - Portfolio of 15 hotels, Various European Cities
Valuation - Portfolio of 7 Corinthia hotels, Various European Cities
Hotel Management Contracts in Europe
This article reviews the main terms of hotel management contracts in Europe. The terms provided are broad indications only, and can vary significantly depending on element such as asset class, location, brand, operator and type of investor.