No Vacancy Live!

At The Lodging Conference, Ryan Bosch of Arriba Capital and I discussed the latest trends in hotel development and how it's affected by interest rates, market shifts, and hospitality industry development strategies. Whether you're a seasoned investor or just curious about the future of hotel construction, this conversation offers key insights on what's coming next. Key discussion points: Current interest rates 📊 and their effect on hotel development 🏗️ Why 50 basis points isn't enough for a market shift ⚖️ but why there's hope on the horizon 🌅 What Lodging Econometrics' data says about new hotel construction in 2024 and beyond 📅 Market predictions: Which cities are primed for outsized RevPAR growth? 🌆 How luxury and upscale segments ✨ are faring against economy properties 💲 The challenges and opportunities in hotel development financing 💰 What to expect if many developers begin building simultaneously 🛠️ The key to getting your hotel project financed in a competitive market 🔑 Don't miss this in-depth conversation packed with actionable insights for developers, investors, and hospitality professionals! Thanks to Unifocus for supporting this video.

One thing every hotel wants to do is create a positive, memorable experience for their guests. Every hotel has its unique challenges to accomplish this goal. Ashley Ewing Parrott, Principal at AEP Hospitality Consulting & The Saturday Crowd, has helped hotels accomplish just that and she is here to share some of her tips.

During The Lodging Conference, I finally spoke with legendary hotelier Bakulesh "BUGGSI" Patel to discuss how shifting markets are creating new hospitality industry opportunities.

Buggsi shares his investment strategies and offers advice on finding under-the-radar hotel deals that can generate significant returns.

🔥 Buggsi Patel's investment strategy: How he's capitalizing on institutional assets and market shifts

💡 CapEx insights: Why some hotels are primed for renovation and profit

📈 8-9 cap returns: The financial sweet spot for maximizing profitability

🌍 Targeting the right markets: Buggsi reveals his focus on under-the-radar deals

🏨 Legacy brands resurgence: How neglected hotels can stage a comeback with the right investment

💼 Building relationships: The role of trust in securing high-value deals

🚀 Bright future for hospitality: What Buggsi sees as the biggest opportunities in the industry today Learn more about Buggsi's strategy and get expert tips on staying ahead in today's hospitality landscape.

Thank you to our sponsor, Unifocus . Streamline your hotel operations and enhance your profitability at unifocus.com.

#HospitalityInvesting #HotelierInsights #CapExStrategy #LegacyBrands #LodgingConference #HotelProfitability #HospitalityIndustry #RealEstateInvesting #Unifocus #GlennHaussman #BuggsPatel #lodgingconference

Continued coverage from The Lodging Conference 2024 where I chatted Joseph Bojanowski, President of PM Hotel Group. We discuss key strategies hoteliers are usong to combat rising costs and labor shortages by leveraging technology to enhance guest experiences and improve the bottom line.

Learn how the PM team are navigating industry challenges with innovative approaches to drive profitability.

*Hotel margins are under pressure due to rising labor costs and declining RevPAR.

*Strategies to enhance profitability through guest experience and technology.

*How PM Hotel Group is using automation and robotics to free up staff for guest interactions.

*Innovative learning platforms, including TikTok-style training for younger employees.

*Preparing for the future of hospitality amidst labor shortages and economic uncertainty.

More from The Lodging Conference 2024. Rob Smith, the newly appointed CEO of Stonebridge Companies, shares his thoughts on state of the hotel business, his vision for Stonebridge, how he plans to lead the company, and the challenges and opportunities facing the hospitality industry today. Key Points: • Rob Smith discusses his first 90 days as CEO of Stonebridge Companies. • Insights on focusing on the people, process, and ownership expectations. • Key strategies for improving top-line performance and managing rising expenses. • The impact of mergers on expanding geographic reach and gaining new talent. • How the hospitality business model has evolved post-COVID. • Rob's thoughts on the industry sentiment from the Lodging Conference 2024. #HospitalityLeadership #StonebridgeCEO #LodgingConference #HotelIndustryInsights #HospitalityGrowth #HotelManagement #MergersAndAcquisitions #TopLinePerformance #GlennHaussman #RobSmith #NoVacancy

Thansk to Unifocus for supporting this video.

At The Lodging Conference I spoke with Sloan Dean, CEO of Remington Hospitality to discuss key hospitality trends. We talk labor costs, AI's impact on the workforce, and the future of foreign travel in the US.

Key Takeaways:

2024 Outlook: Interest rates are falling, and wage inflation is cooling, providing relief for hotel operations.

Labor Costs: Wage growth is slowing, which is crucial since labor is the biggest expense in hospitality.

AI & Productivity: AI is not yet job-eliminating in hospitality but is improving productivity, allowing hotels to operate with fewer staff.

Foreign Travel Recovery: Foreign inbound travel, particularly from Europe and Asia, is rebounding, offering exciting growth opportunities for 2025.

US Travel Trends: While domestic leisure travel has stabilized, outbound US travelers are spending more than ever in foreign markets.

What's Next: Sloan Dean is optimistic about business transient and foreign travel recovering fully by 2025.

Sponsored by Unifocus: Streamline your hotel operations and elevate guest satisfaction with innovative technology solutions. Learn more at Unifocus.com.

During The Lodging Conference, Glenn Haussman speaks with Rob Leven, Chief Investment Officer and Principal at TPG Hotels, to discuss the evolving hotel economy post-COVID and where real opportunity is uncovered. From shifting travel trends to capital investment strategies, Rob shares expert insights on how TPG Hotels & Resorts is navigating the new normal.

Key Highlights:

• Post-COVID hotel economy recovery: What's next for the industry?

• How interest rates and market conditions are driving new opportunities.

• The "new normal" in travel: How consumer behavior has shifted.

• Capital investments and the role of leisure-focused properties.

• TPG Hotels' strategy for growth in independent New England hotels.

• Insight into management opportunities and leadership development at TPG.

Don't forget to subscribe for more in-depth conversations from the hotel industry!

Sponsored by Unifocus: Streamline your hotel operations and elevate guest satisfaction with innovative technology solutions. Learn more at Unifocus.com.

We're diving deep into extended stay hotel profitability with International Hospitality Technology Hall of Famer Cindy Estis Green, the Co-founder and CEO of Kalibri Labs.

We're joined by cohost Doug Artusio, Founder of the Extended Stay Lodging Association, to explore how data-driven insights are reshaping the extended stay market.

In this episode, we cover:

• Kalibri Labs: Gathering data from 30,000+ hotels for unmatched RevPAR insights
• Why understanding the composition of demand is crucial for extended stay success
• The rising cost of guest acquisition: From 5% to up to 25% in recent years
• How to choose the most profitable guest acquisition channels
• The power of benchmarking to boost your hotel's bottom line
• Why not all customers are created equal when it comes to profitability
• Practical examples of how extended stay developers can benefit from data insights
• Key strategies for operators to target the right business mix
• The critical role of length of stay in determining hotel success

Gain actionable tips on using data to make smarter, more profitable decisions in the evolving hotel landscape.

Thanks to Dellisart Hospitality for sponsoring this episode.

The President of Staypineapple Hotels Dina Belon, and Pineapple loving Dr. Producer Suzanne join Glenn and Craig for pineapple inspired cocktails and bad jokes that cut to the core. See, like that one.

Join Glenn as he visits the legendary Mohegan Sun, a property he's been visiting since it opened in 1996. Jesse Sturges, Director of Strategic Marketing at Mohegan Sun shares evolving marketing and operations strategies at one of the most iconic casino resorts in the country.

Main Takeaways:

• The evolution of Mohegan Sun since 1996 and how it continues to adapt.

• How Mohegan Sun leverages its unique attributes, from the Connecticut Sun WNBA team to live events and expos. Yes, I saw Phish there twice this past summer.

• Strategies for connecting with customers through loyalty programs and AI.

• The role of AI in personalizing guest experiences.

• Creating unique guest experiences through outdoor spaces like the Sun Patio and Game On, Comix and more.

• How Mohegan Sun uses smart tools to free up staff, allowing for better customer interactions. Tune in for an inside look at the innovative strategies driving success at Mohegan Sun and beyond!