Challenges in Today’s Hotel Industry Operating Climate
Chris · July 17, 2007
Paul McManus, President and CEO of Leading Hotels of the World was recently featured in a video interview where he outlines what he considers to be the the luxury hotel industry’s critical challenges moving forward.
Paul suggests that we operate in a “fitful”, dynamic environment where new owners are bringing new philosophies to the trade. Conglomerate owners like Blackstone and Colony Capital have an unbridled appetite for hotel and brand acquisition, but they have absolutely no specific business plan in place to actually manage and maintain these assets.
While hoteliers operate with passion and hospitality, these new owner groups are acquiring hotels because they are finding good deals. There is nothing inherently wrong with that, but the unfortunate result for the hotel industry means quick flips of hotel assets, mass conglomeration and diminishing quality of service.
Check out this excellent five minute interview for more details:
Linkage:
Paul McManus [Leading Hotels of the World]
More Development Speak [Hotel Law Blog]
