New Year, New PIPs, New Delays
Owners Will Feel More Pressure to Renovate Their Hotels in 2024
Property-improvement plans remain top of mind for many hoteliers heading into the new year, but brands may not be as rigid in their expectations as we once thought.
How Smart Hotel Owners Work Property Improvement Plans into Exit Strategies
Conversations With Brand Partners Require Good Faith, Honest Evaluation
Opportunities for hotel transactions abound, if only the economy would play ball. Hoteliers are bearing witness to an incredibly active travel season, but the current state of deve...
Hotel Property Improvement Plans Are Back
Why Hoteliers Are Embracing Them
All across hospitality, occupancy is rising, interest rates are holding, and new hotels are being built.
Hoteliers Continue To Learn Development Lessons Amid Hospitality’s Recovery
Securing Financing Is Likely To Become More Difficult
As the hospitality industry prepares for an active summer, flush with leisure and business bookings, the industry is also readying itself for another wave of interest rate hikes. O...
Why Hotel Development is Charging Headlong Into Renovations
If You Rebuild It, They Will Come
The hotel industry ended 2022 in its most stable state since before the pandemic, and despite lingering uncertainty the sector is not pausing for a breath before resuming developme...
Property Improvement Season Returns for Hotel Industry
Delayed Renovations Take a Toll on Brand Standards, Guest Satisfaction
Hotel brand executives are aware that travel is back. Hotels are routinely posting higher rates than before the pandemic, with some markets reporting rates higher than in 2019. The...
A Familiar Position: How Hoteliers Are Approaching Development With Interest Rates on the Rise
Communication Among Hotel Owners, Operators, Designers and Contractors Is Key
Between rising interest rates and the current threat of growing inflation, hoteliers with development goals are once again wondering if now is the time to borrow money to renovate ...
Analyzing Assets: How Investors Can Find Opportunities in Today’s Hotel Market
Don't Neglect the Importance of Due Diligence
A wave of renovations has swept across the industry as ownership companies rush to refresh their hotels and take advantage of “revenge travel” trends.
The Planning Game: Hotel Development Projects Go to the Most Prepared
Hotel Owners Rush To Meet Requirements for Property-Improvement Plans
Hotel owners may be ready to reactivate development plans, but their development teams might not be.
Why Hoteliers Can’t Avoid PIPs in 2021
Recovery and Property Improvement Plans Top of Mind
The U.S. travel market is on track for recovery, and hoteliers will have to take the good with the bad. Hotel brands that delayed or altered property improvement plans in light of ...
2021 Development Expectations Will Exceed Availability
Risks Remain for Hotel Owners Willing to Dive Back Into Development
Hotel occupancies have seen slow, albeit inconsistent, recovery over the past few months.
Staying ‘in Business’ by Transitioning to Another Use
The pandemic has provided the hotel industry with opportunities to rethink current business models and diversify portfolios into other more stable sectors. Here are some things to consider.
In times of deep crisis, opportunity still reigns. As unusual as that sounds, it is during the darkest times where innovators and adaptors find solutions that help us return to day...
Take Advantage of Renovation Opportunities Now
Consider these less costly fixes to help maintain an asset without any additional business interruption.
Everyone who is reading this knows how the hotel industry dynamics have been severely altered. This includes those related to hotel renovations and the renovation rules that we hav...
Preparing for Sale in the Next Cycle
When hotel owners are ready to buy their next asset, they should take time to consider the conversion opportunities offered by the brands.
Selling a hotel requires more than hiring a broker, creating an offering memorandum and installing a so-called “for sale” sign.
Life Cycle Planning for Your Hotel
From HVAC repairs to parking lot updates, here’s how hoteliers can plan for the long-term health of a hotel.
No matter what the revenue per available room, average daily rate and occupancy numbers show, it’s essential to plan for the long-term health of your hotel.
Making Sense of Modular Construction
As the cost of construction continues to grow and timelines lengthen, modular construction could be a viable option for certain projects, but owners and developers should be aware of the challenges going down this route.
One effect of a growing economy is the cost to build or renovate hotels is constantly climbing. In 2018 alone, the cost of construction rose by an eye-popping 5.7%, according to Ri...
Navigating the PIP Process With a Project Manager
Find a partner who can help you determine how best to budget a property-improvement plan before buying your next hotel.
When looking to purchase an existing hotel, it’s rare for the buyer to find a property in “perfect” condition. In fact, it’s typical in the hotel business for properties to be sold...
Navigating the Permitting Process
Understanding the permit process is key to planning and completing a renovation project, so here are some tips to alleviate some of the frustration that accompanies obtaining permits.
The last thing an owner wants when embarking on an expensive renovation is an obstacle that causes significant delays and increases costs. That’s why it’s critical to confirm if a ...
Vision, Flexibility Key to Success of Soft-brand Hotels
Uniqueness is the selling point of a soft-branded property, but it also can create challenges when it comes to budget.
When the first-ever soft brand was introduced, it changed the landscape of the hotel business. Hoteliers were no longer forced to choose between going it entirely alone as an indep...
Consider the Future When Building Your Hotel
Thinking about future conversion prospects during the design and construction phases of a hotel project can extend the longevity of the structure.
Hotel owners who are long-term holders can increase future profitability prospects by thinking differently about the hotel construction process. Building a property with a keen eye...