The successful hotel investor must be more creative and unique than ever before to serve this highly informed and sophisticated psychographic - or be prepared to embrace the boring and bland .
INVESTMENT
>> Continued from page 27
is a staying shift in consumer dynamics .
Hospitality real estate must participate in and add to the consumer ’ s story . The hotel itself must become the destination – whether through an ultra-unique food and beverage offering or truly spectacular communal space , the real estate should provide a platform for the collection and sharing of memories and become an experience that cannot be aggregated otherwise .
The future of hotel investment is incredibly exciting . Successful hotels are now part of the “ three Cs ” of a community – creativity , commerce and culture – and in this ecosystem will actively participate in the
The successful hotel investor must be more creative and unique than ever before to serve this highly informed and sophisticated psychographic - or be prepared to embrace the boring and bland .
broadcasting of good taste . Taking cues from the past but also integrating new experiences , hotel investors can unmask the true essence and spirit of a place and engage with the consumer like never before .
Place-making has become a new buzz word for retail centers looking to carefully curate their tenants and social engagement , but it ’ s been done in hotels since the days of
— BEN WEPRIN
salons and inns , and how they communicate to the community . What is programmed in your lobby , rooftop , etc ., speaks to what your hotel stands for and will have a halo effect on your room product . Our goal is to create the living room experience in each market where people are comfortable , relaxed and at home . There is no substitute for actually submersing yourself in each market where you are developing an asset and getting your finger on the pulse and spirit and reflecting that in your asset .
The successful hotel investor must be more creative and unique than ever before to serve this highly informed and sophisticated psychographic - or be prepared to embrace the boring and bland and the limited pricing power inherent therein .
INVESTMENT : CHASING DEALS THE RIGHT WAY
HOTELS : What is one investment trend you are watching , and why ?
LELAND PILLSBURY , co-founder , Thayer Lodging Group , Annapolis ,
Maryland : Companies returning cash to their shareholders either through stock buybacks or dividends . Since 2010 , companies that have returned cash to shareholders produced total returns 1200 % above those companies who reinvested in their business . This explains , in part , the low growth rate in the U . S . economy , and is very unhealthy for the long term . Reinvestment is critical to resuming growth , and policymakers need to take notice and act to increase the incentives to do so .
BOB EAST , CEO , Mantra Group , Surfers Paradise , Australia : There is a growing movement toward capsule hotels and lightweight modular construction . Even though this building technology has been available for more than a decade , it is only now emerging as a viable option with improved quality and low-cost , fast construction making these hotel developments a more attractive option in markets . Mantra Group will open our first prefabricated hotel , Peppers Kings Square West Perth in Western Australia , in October this year .
28 hotelsmag . com September 2016