At this year’s Hunter Hotel Conference, industry leaders spoke about the evolving role of tech in hospitality and how it’s disrupting the industry.
Brands have always shopped themselves as providing unbeatable value through reservations, brand recognition and loyalty programs. Indeed, more than 70 percent of all hotel rooms carry a brand, according to STR.
The struggle to persuade guests to book direct instead of through an online travel agency is ongoing, but hoteliers have a number of factors working in their favor.
As mixed-use developments become destinations for leisure and business travelers, they are likewise becoming a preferred destination for hotel investors.
Low interest rates, although climbing, continue to drive a search for yield that is drawing capital into commercial real estate—particularly hotels, according to Daniel Lesser, president and CEO of LW Hospitality Advisors.
The LW Hospitality Advisors (LWHA) Q1 2018 Major U.S. Hotel Sales Survey includes 57 single asset sale transactions over $10 million, none of which are part of a portfolio.
As the de Blasio administration moves forward with its proposal to limit hotel development in large swaths of the city, the main trade group representing hotel owners – whose members have conflicting attitudes toward the plan – is sitting the debate out.
The US lodging industry continues to enjoy the benefits of strong economic fundamentals as metrics on spending, global trade, and various manufacturing indices signal that America’s economy is poised for further growth.
Although restricting hotel development in M1 zones is not anticipated to reduce historical contributions of the sector, it is projected that over the long term, impeding new hotel development will reduce the potential economic and social benefits to NYC.
LW Hospitality Advisors has revealed the findings of a comprehensive M1 Zoning Hotel Market Analysis completed in advance of the city’s decision regarding the certification of the proposed action to limit new hotel development in M1 zoning districts.