john burke
Hotel & Leisure Advisors Top Five Takeaways From NYU Hotel Investment Conference
David J. Sangree, MAI, CPA, ISHC | June 18, 2018
by David J. Sangree The sentiment at the 2018 NYU Hotel Investment Conference was very positive for the industry with expectations of continued growth in the coming years. Among the wealth of relevant information from the conference, we identified several key takeaways that highlight the state of the industry in 2018 and beyond: Overall, the feel of NYU was positive, with attendees, panelists, and speakers all expecting and planning for continued growth for the industry. However, the industry is rapidly changing with technology and the sophistication of hotel and resorts guests. This means brands, developers, and investors need to conti...
Data Reveals Risks, Prospects Facing US Hotels in 2018
John Burke | February 1, 2018
By John Burke With the start of the new year, many of us take stock of where we are and what 2018 holds in store. The status of the U.S. hotel industry partly depends on the lens you're looking through—whether you're a franchise company, developer, owner, operator or investor. While the opportunities and strengths of one perspective could be a threat or weakness to another, these items contribute to the big picture, regardless of your role in the industry. Strengths Record occupancy: U.S. hotel occupancy of 65.9% in 2017 is the highest since STR began recording U.S. lodging performance in 1987. Gross operating profit: GOP per avai...
The Financial Impact of Hotel Renovations
Laurel Keller | December 7, 2016
by Laurel A. Keller, MAI and John Burke The story is a familiar one. A hotel that formerly outperformed its competitive set is now struggling to maintain market position. Rate and occupancy penetration indexes are headed in the wrong direction, and online reviews regularly contain comments such as "needs a refresh" or "feels dated." Even if the hotel's brand hasn't issued a mandatory property-improvement plan, completing a renovation may be financially worthwhile. Signs your hotel needs a renovation While several factors need to be considered prior to planning a renovation, the following are signs that it may be time: Declining penetr...
