Strategy
Factors Defining Strategy
- Demographic shifts
- Increases in hotel rates and occupancies
- Demand for guest-centric lodging/services
- Obsolescence of previously competitive hotels
- Design sensitivity of Gen-X and Gen-Y
- Technological needs of today’s business travelers,
- Macro trends favoring high quality, select-service hotels,
- Strong and enduring market demand for best-of-class hotel brands
- Major franchise brands with reconfigured exteriors, public spaces and guest rooms that often disqualify existing hotels for franchise transfers or renewals
- Availability of prime sites for new generations of Marriott, Hilton, Starwood and Hyatt brands.
- Re-invented brands provide a unique opportunity to add significant value to early generations of major brands.
Strategy and Tactics
- Focus on core competencies of development, renovation and construction,
- Secure sites in prime locations and dynamic sub-markets currently dominated by aging, premier-branded hotels,
- Target markets with sound economic prospects and strong demand generators,
- Adherence to predefined site and hotel acquisition criteria,
- Concentrate development on Marriott, Hilton, Starwood, Hyatt and IHG branded hotels,
- Develop transient and extended stay hotels in or adjacent to lifestyle centers, universities, medical centers, and Class-A office parks,
- Maximize value of each hotel through intense asset management
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