Island Hospitality Management’s Post

As 2024 approaches, US hotel dynamics reflect local nuances. In NY, repurposed rooms impact supply, while NJ's Assembly Bill 1958 sparks debates on franchising. Dallas thrives with upscale hotel additions. Chicago clarifies property rumors, showcasing urban evolution. San Francisco adapts post-pandemic, with trusts adjusting presence. Amid narratives, optimism persists, emphasizing patience in recovery. #HotelTrends #MarketShifts #HospitalityInsights

Spoke to a few hotel developers over the past week that are transitioning into Self Storage development. Hotel operational costs in California continue to rise narrowing profit margins. Deals don’t pencil in and the risk reward is not worth it according to these developers. . . . . . . #hospitality #selfstorage #cre #commercialrealestate #development #hospitality #hoteldevelopment #losangeles #california #socal #hotelinvestment

Building today for a better tomorrow . . . Picture below shows a current state of one of our guest rooms. With new year 2024 we are doing a lot of changes, and we have big goals to chase: ✔ Complete all-inclusive hotel renovation by the time Spring break starts. We want to capture as much of the room revenue as possible pushing high occupancy and ADR to its limits. I feel that with the support of Jason Nicholson, CHA, Clay Robbins, Jeremy Skinner, Anthony Eman and crew of New Look Renovations Inc we will get there on time. ✔ Watch the budget and gross operating profit. Half of our management team is new to Holiday Inn Resort Fort Walton Beach, but we are enthusiastic, open to learn new approaches and implement them. Budget watching will be critical this year. There is a hospitality industry market slack visible for quite some time and despite this we are going to end the year with a profit. #goHIRteam: Will Culpepper, Sandy Beebe, Ivana Coteat, MS, CHSP, Joshua Thomas, Anna Dresslar, Patrice Ealy and Jamie Pasour! 🤟 ✔ Spread the workload between departments, have them all accountable for their actions, decisions and goals, keep improving processes within and between them a have fun seeing what we can achieve if we work together and not against each other - Innisfree Hotels. #yeswecan #hospitality #mindset #funatwork

"As the hospitality landscape continues to evolve and the sharing economy expands, regulatory oversight becomes increasingly vital in preserving the fabric of urban communities and fostering responsible business practices within the hospitality sector. How do you see regulatory oversight changing the hospitality sector in our market? Read more: https://bit.ly/3TeNVrA #CRE #CRENews #Hospitality "

At Fort + Home, we believe in redefining hospitality with innovative, high-end experiences. Our latest investment, the Hotel Melrose, exemplifies this vision perfectly. Located in Colorado wine country, this hotel combines luxury and exclusivity in a way that's unmatched. But what truly sets the Hotel Melrose apart? It's all about a strong competitive edge and a clear value proposition. By leveraging a fully automated system, the hotel eliminates the need for a traditional front desk, operating like a series of short-term rentals under one roof. This approach significantly cuts overhead costs, boosting profitability. The result? Above-market rates and higher returns for our passive investors compared to traditional hospitality assets. The Hotel Melrose is more than just a great investment—it's a testament to the forward-thinking projects that Fort + Home is proud to support. Join us in exploring the future of hospitality. https://hubs.li/Q02zYVby0 https://hubs.li/Q02zYK820 #thehotelmelrose #fortandhome #thefort #passiveinvesting #hospitality #realestateinvesting #passiveinvestor

"As the hospitality landscape continues to evolve and the sharing economy expands, regulatory oversight becomes increasingly vital in preserving the fabric of urban communities and fostering responsible business practices within the hospitality sector. How do you see regulatory oversight changing the hospitality sector in our market? Read more: #CRE #CRENews #Hospitality "

Long known as a group and leisure anchored hospitality market, Orlando, Florida, has a growing appeal as a corporate economic engine, as showcased in today’s Wall Street Journal: https://lnkd.in/e-ZZXr3H.   Surveying the landscape of Florida’s lodging markets (STR / CoStar tracks 15 distinct markets in Florida), Orlando stands out in a few ways: ❎ Orlando's RevPAR grew 10% from 2019 to 2023, the second lowest tally across the state’s 15 markets. ⬆ That said, Orlando is one of only four markets in Florida that enjoyed RevPAR growth in 2023, exceeding the banner year of 2022. 📈 Moreover, Orlando bears the distinction of being the only STR market in Florida that has yet to surpass its pre-pandemic RevPAR trendline established during the 2016-2019 period.   While the shutdown in group business during the pandemic was particularly painful for Orlando, the group segment is one again the linchpin of the lodging industry. Resurgent group demand coupled with a growing corporate segment and meaningful expansions to the market’s theme park inventory have paved a clear pathway for Orlando’s hotel sector.

One of Northern New South Wales most iconic pubs is set to change hands with The Argyle Hotel up for sale as regional demand for freehold hospitality assets continues to attract investors. The 130-year-old freehold property in Maclean was hailed as "The Handsomest Commercial Building In Maclean" and "The best finished Hotel North of Sydney” when it was built in 1894.  "With its rich history and modern amenities, this 1,004-square-meter freehold property represents an extraordinary investment opportunity for visionaries in the hospitality industry.  “This untapped potential is down to its strategic location, painstakingly restored heritage features, and dynamic design, which allows for the potential to expand its business offerings and drive revenue.  “It’s possible to build a microbrewery crafting local flavours, a boutique hotel redefining luxury, or a culinary haven leaving a lasting imprint.”   With an approved Development Application, The Argyle Hotel can be redesigned to allow a new buyer to shape the bar and restaurant areas while harnessing a natural synergy between heritage and modernity.  Other recent notable sales in the northern NSW region include The Pottsville Hotel and Arthur Laundy’s purchase of the Lennox Heads Hotel and the Illawong Hotel.  https://lnkd.in/gQyiQVzi

Here are South Florida’s biggest hotel sales of 2023. The $835M trade of the Diplomat Beach Resort in Hollywood exceeded this year’s other top nine deals, combined. Nine South Florida hotels sold for a combined half-billion dollars this year. But even cobbled together, those deals fell far short of 2023’s top hotel sale, the $835 million trade of the Diplomat Beach Resort in Hollywood. That top sale was more than three times last year’s No. 1 hotel deal: the $232 million sale of the Confidante Miami Beach. It’s also proof that hospitality investors gravitated to five-star properties in 2023.

A reduction in the UK's overall hotel bedroom supply spells opportunity for ambitious and affordable hotel chains like Premier Inn writes Jill Anderson, Whitbread acquisitions manager for the north, in Place North West. You can read the piece here - https://lnkd.in/eJyk5uGe. Based on Whitbread research, the number of hotel rooms in the UK has decreased from 715,000 in 2019 to around 680,000 today (ref Whitbread FY24 results). It's the smaller and less visible operators that have left the UK market ,and many will never return as hotels we believe. It's one of the driving forces underpinning Premier Inn's expansion across the UK. Currently we offer our guests a selection of 85,000+ Premier Inn and hub by Premier Inn rooms and have a long-term potential target of 125,000 UK rooms. But it's not just the obvious locations that are the focus for our growth, writes Jill reflecting on her area of focus in the north of England. Places with strong business economies and year-round leisure visitor demand are equally attractive as the globally recognised visitor destinations such as the Lake District National Park. Places like Lancaster, Carlisle, Lytham St Annes, and Grange-Over-Sands – all of which we are seeking to expand our offer into – as well as locations in Lancashire, Yorkshire, and Liverpool. In fact across the north of England we are currently searching for 24 new sites for Premier Inn as shown below. Each location represents a 25-30 year commitment for us, with a powerful package of local benefits standing behind our market leading brand. So dip into Jill's article to understand more about what's driving our continued expansion or reach out directly to her, or her retained agent Adam Mobley WSB Property Consultants LLP, here or via the details below for a conversation on where we hope to grow. #expansion #hotels #growing #development