David “Rev” Ciancio serves as Director, Industry Insights for Yext, where he works to ensure customer success as they deploy the Yext Knowledge Engine on behalf of their businesses. Over his 20+ year career, he has managed business development, digital marketing, and social media strategies for a wide range of entertainment and hospitality companies. When not preaching the gospel of Digital Knowledge Management, you can find this expert burger taster discussing the virtues of what makes a truly great hamburger on his Instagram account, @revciancio and hospitality marketing tips on his blog, burgerconquest.com.
Lodging Econometrics has tracked the hotel industry since 1998. Its global database includes new-hotel pipelines as well as renovations and brand conversions. Hotel franchisers once eager to launch new brands are focused on converting existing hotels because it’s a faster way to recover revenue lost to the COVID-19 pandemic than through new construction. In Episode 346, Lodging Leaders explores the increasing number of conversions in the U.S. hotel industry and what owners and operators need to consider before repositioning an asset.
In the first few months of the COVID-19 pandemic in the U.S., financiers anticipated a swell of distressed hotel businesses. Some raised rescue funds to respond to what they thought was a pending crisis. Though there are financial rescues taking place, the level of such activity is far below what industry advisers and fund managers expected. Commercial real estate investors positioned to act in the early days of the pandemic held off and are now just beginning to unleash their cash hoards totaling billions of dollars. Episode 345 of Lodging Leaders podcast explores the state of capital investment in the hotel industry.