We see that there is going to be opportunities in the development, redevelopment and re-purposing of hospitality projects.
Our industry is going to develop into a “new norm” in “Demands” for design and functionality. It will redefine the supply that stays in the hospitality industry and the supply that goes. Newer needs, newer concepts of comfort and a new definition for Hoteliers of how to be bigger within smaller experiences. “Limited service” could realistically become too limited to these new Demands and cost center exposure will impact performance and profitability. “Full Service” will need to potentially be made smaller to accommodate the more selective and higher spend guests. This will increases the revpar opportunities as well as expenses. A new premium will be set for that travelers desired experience. The supply availability in centers of major market destinations will shift and a reduction of key counts will be impacted as a need to suffice these “selected” accommodations.
Gone will be the days of the “sardine class Hospitality.” The “sharing economy” will need to re-think exactly what they want to really “share”. Professional hospitality will be in higher demand. At JDM we are here to be “of service” to our clients and partners.