Hospitality executives at the 2019 Hunter Hotel Investment Conference wanted attendees to leave with these takeaways.
1The challenge is in development costs.
“The overall challenge is in development costs. In general, they have grown so much in the last five to six years…Land costs, construction costs, all these other costs that escalated, and RevPAR has not grown at that rate. It is absolutely challenging.”
Mitch Patel
President & CEO
Vision Hospitality Group
2How we build rooms is changing.
“We can’t continue to do things the same way we’ve always done them. Technology is changing at a very fast pace, as is consumer sentiment, and how [we] build rooms is changing at an even faster pace. So if you’re not staying up with that, you’re falling behind very quickly.”
Greg Mount
President & CEO
RLH Corporation
3Bad times happen.
“The good times and bad times define us and the way we’re doing business. At the end of the day, you want your guests, you want your employees, and you want your partners to be comfortable with where they’re at. Bad times happen, and you want those people to be loyal to you.”
Ken Greene
President, Americas
Radisson Hotel Group
