Independent hotel supply in the U.S. has decreased in the past 10 years, reports STR.
The lodging-data company reports independently owned and operated hotels account for less than 40 percent of all hotels. About 1 percent of those close each year.
But that trend may take a turn.
It appears more and more hoteliers who have grown their companies with franchised brands are considering going independent.
We’re talking about entrepreneurs are converting existing branded properties into non-affiliated hotels.
The franchise contracts are approaching the end, and thanks to the internet, online distribution channels and sophisticated operating and marketing technologies, flying solo is no longer a day dream.
However, before lowering your brand flag, listen to the advice of three hoteliers who either have done it or are planning to do it.
You may discover that franchising is the best model for your business, after all.
In today’s episode, we talk to San Diego hoteliers Bobby Patel of Hotel Investment Group which has nine independent hotels, and Vipul Dayal of VNR Management who is converting a family-owned franchised property and writing a book about it.
We also hear from Timesh Patel of Ohm Culture Hotels in Inglewood, California, who, as he puts it, was “punched in the face” when he transitioned from franchised to independent.
Resources and Links
In the introduction of his book, “Hotel, an American History,” A.K. Sandoval-Strausz writes: “The hotel as we know it today did not evolve randomly or naturally, nor did it develop as some sort of automatic response to structural needs. Rather, it was the deliberate creation of an identifiable group of people who lived in a read more
Many companies in the hotel industry claim they practice diversity in their hiring practices. When questioned about how many Black people they employ, most companies can back up their hiring outcomes with data. That’s all well and good, but what’s missing in most employment demographics is a measurement of how inclusive the company is not read more