U.S.-China trade war. Design-savvy online furniture retailers. Hurricanes. Marijuana.
These things and more are having an impact on hospitality purchasing. And they’re influencing the prices of hotel FF&E and OS&E as well as the cost of construction.
In this episode of Lodging Leaders, we talk to specialists in procurement and logistics to find out the trends and challenges facing the hospitality industry as it continues to build new hotels and renovate existing ones.
We find out what’s costing your project more money than it should. And we identify opportunities and pitfalls to be aware of while in the planning stages.
We talk to Marla Davis, senior vice president of procurement at Premier Project Management; William Langmade, CEO of Purchasing Management International; and Darlene Henke, president and CEO of Audit Logistics.
Resources and Links
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.