BALTIMORE—A panel of industry experts discussed the industry’s five-year horizon during the 2015 Hotel Business Owners & Developers Executive Roundtable, “Hot Tactics for Cooler Times: Prepping for the Cycle Shift.”
The executive series was held Aug. 20 at RLHC’s newly opened Hotel RL Baltimore Inner Harbor. Situated at 207 East Redwood St. in downtown Baltimore, the hotel is an adaptive reuse of the former Keyser Building, a 10-story historic property with a cut-stone facade.
The event was sponsored and hosted by RLHC (Red Lion Hotels Corporation). Other sponsors included Arthur J. Gallagher & Co. Real Estate and Hospitality Services and Bissell Big Green Commercial. Stefani C. O’Connor, executive news editor, Hotel Business & managing editor, roundtables, moderated the panel discussion.
The panelists included: Roger Clark, EVP/hotel acquisitions, The LCP Group; Sunny Desai, president/CEO, Desai Hotel Group; Elliott Estes, principal, Woodmont Lodging; Stephen Field, president/chief culture officer, Synergy Hospitality, Inc.; Ron Franklin, president/principal, Pinnacle Hotel Management; Norman K. Jenkins, president/CEO, Capstone Development, LLC; Greg Mount, president/CEO, RLHC; Michael Muir, EVP/hotel lending, Live Oak Bank; Brian Quinn, SVP, RLHC; and Mark Woodworth, senior managing director, CBRE Research – PKF Hospitality Research, a CBRE Co.
Extensive coverage of the executive roundtable will be featured in the Sept. 7 issue of Hotel Business.
@HotelBusiness tweeted takeaways during the roundtable:
Follow #HBRoundtable to follow the 2015 Annual HOTEL BUSINESS Owners and Developers Executive Roundtable
#HBroundtable is sponsored by Bissell Big Green Commercial and Arthur J. Gallagher & Co Real Estate and Hospitality Services @BisselComClean
#HBroundtable topic: Hot Tactics for Cooler Times: Prepping for the Cycle Shift hosted by @RLHC at Hotel RL Baltimore Inner Harbor in MD
Are we so myopic in the hotel industry that we are overlooking supply? Roger Clark, LCP Group #hbroundtable #hotelnews
70% of pipeline is upper mid scale, upscale and unbranded- Mike Muir, Live Oak Bank #HBroundtable #hotelnews #hospitalitynews
Guest and owners are looking for independence and authenticity in the hotel stay… RLHC Brian Quinn #hbroundtable #hotelnews
… employees, location, and overall experience adds to that @RLHC Brian Quinn #hbroundtable #hotelnews
PIPs are coming in at such a high number it’s hard for the deal to make sense -Sunny Desai @DesaiHotelGroup #HBroundtable #hotelnews
If you can’t make the numbers work then you have to reposition and find one that works Mike Muir, Live Oak Bank #HBroundtable #hotelnews
Owners have a great perspective on inputs and delivering an economical construction than the brands are -Greg Mount @RLHC #HBRoundtable
It doesn’t matter how the carpet looks. We should ask are we hitting key points for the guest? – Roger Clark, LCP Group #HBroundtable
My decisions are based on the market, the person, and the brand. It’s all about responsible lending. Mike Muir, Live Oak Bank #HBroundtable
The higher the hotel occupancy the greater the anount of airbnb units Mark Woodworth, PKF Hospitality #HBroundtable #hotelnews
If you give more people more of what they want you can probably sell it at a higher price -R. Mark Woodworth, PKF Hospitality #HBroundtable
On costly construction: I’m seeing guys who have courage to put shovels in the ground N. Jenkins, Capstone Development #HBRoundtable
On urban areas: The conversion opportunities are more significant and you can stabilize more quickly -Greg Mount @RLHC #HBroundtable
History shows there’s a peak and then a downturn, the hotel industry has a few years left -Mark Woodworth, PKF Hospitality #HBroundtable
Airbnb: Let’s look at what it is, how it manifests itself, then make it a level playing field Mark Woodworth, PKF Hospitality #HBroundtable
There’s so many things we can learn from what Airbnb has done. We’d be remiss if we didnt watch -MWoodworth, PKF Hospitality #HBroundtable
I’m launching a company knowing a downturn is coming. I can’t base my decision on what’s going to derail me. Elliott Estes @WoodmontLodging
We work to mitigate risk by holding onto assets that will hold value during a downturn -Norman Jenkins, Capstone Development #HBRoundtable
There is value to be created during a downturn. Be ready to seize the opportunity -Norman Jenkins, Capstone Development #HBroundtable #hotelnews