Hotel industry analysts and watchers expect property renovations in the United States to surge over the next two years.
They cite several reasons for the outlook, including:
Construction companies, suppliers and others anticipate investors will focus on upgrading and improving existing assets. The 700 hotels that changed hands in 2018 and the approximate 115 assets sold in the first three quarters of this year have given owners plenty to work with over the next two years or longer.
In this episode of Lodging Leaders, we explore the hotel renovation outlook. We find out what owners need to know before tackling a renovation project, how to keep guests happy during the transformation process and what steps to take to grow your business after the renovation dust has settled.
We talk to Heather Tuskowski, director of operations at Winter Construction; Mark Matz, co-president and COO at Premier Project Management; Mario Insenga, founder and CEO of The Refinishing Touch; Stuart Butler, COO at Fuel Travel; and Simon Rizk, vice president of operations at Pro Hospitality Group who recently oversaw a renovation at GreenTree Inn & Suites in Pinetop, Arizona.
Resources and Links
Bijal Patel, 31, is CEO of Coast Redwood Hospitality and the youngest chair of the California Hotel & Lodging Association. He’s made even more history at CHLA by agreeing to serve an unprecedented second term as the lodging industry emerges from the coronavirus pandemic. Patel is a third-generation hotelier. Being so steeped in hospitality at such a young age is not new for members of the Indian American hotelier community, but Patel fears the pandemic has drained the industry of emerging talent. Lodging Leaders spotlights Patel, who represents a leadership demographic that is fighting for the life of the hospitality industry as they watch their peers veer toward other career paths.
Many hotels these days have made room for guests with disabilities. Hotel managers and staff should also know what the Americans with Disabilities Act says about accommodating guests with pets. During the pandemic lockdowns, a lot of people added a pet to their household and now they’re bringing Fido along on vacation. Hotel employees need to know how to cater to both consumers who are pet owners as well as guests who travel with a trained service animal. Episode 329 of Lodging Leaders podcast reports on how the ADA defines a service animal and how a hotel is legally obligated to serve a guest who comes with a dog or any other animal.