Marijuana consumption in America has lost its stigma, and it is on track to become a $23 billion U.S. market over the next couple years.
Hotels in states that have legalized recreational and medicinal marijuana are just beginning to think about how to incorporate the trend into their businesses. The laws can be confusing. Cannabis use is not legal in every state. Each state where it is allowed has its own regulations. And marijuana use and distribution are still outlawed by the federal government.
But the landscape is rapidly evolving on many fronts. And hoteliers and hotel developers in legalized states are figuring out how to navigate and stake a claim in the new frontier of weed.
In this episode, we talk with two hoteliers who are invested in the market. Beej Das of Troca Hotels in Massachusetts has opened a boutique property to users, and Roger Bloss of Alternative Hospitality is developing a portfolio of cannabis friendly hotels – first in California and the next in Nevada.
We also talk with Kenny Dickerson, a builder who owns EcoMaster Corporation and a partner with Bloss in the California project.
For the businessmen, enabling customers to use marijuana is not about getting high, it’s about wellness – for their guests as well as their business’s bottom lines.
With hotel occupancies hovering around an average of 50 percent, owners and operators are seeking new ways to generate revenue beyond traditional overnight stays. One solution in the works is day use of hotel rooms. Hotel companies such as Red Roof, Hyatt Hotels Corp. and Hilton are promoting the practice during the COVID-19 pandemic. Ahead of the curve is HotelsbyDay.com, a day-use booking platform that is marketing hotels as the new office space. Long Live Lodging explores the unconventional use of hotels and how owners and operators can position their properties to attract day users. This is part of our ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
She Has a Deal is a hotel development competition in which all-women teams pitch their ideas to prospective investors to win $50,000 in equity toward their project. Tracy Prigmore, founder and CEO of TLTSolutions, a hotel investment group, created She Has a Deal to open doors for women interested in hotel ownership. Five teams will read more