Renovation vs. Market reality
Time for brands to understand what’s happening!
Our group continues to renovate hotels, working with brands on PIP approvals. But the pandemic has caused major destruction.
Markets have changed.
Brands need to be sensitive to the new normal. Yes: no doubt hotels need to be renovated. But owners need the room to accomplish this within the new realities of the marketplace.
Suggestion to brands:
Take your foot off the gas pedal.
Slow down on design expense and consider future financial returns for ownership in this new world.
Remember: It’s nice to have a beautiful property, but more important is to have an enterprise where the financial model is realized.