Creativity Comes From Challenge

Michael Buono | June 11, 2020

By Michael Buono COVID-19 has challenged us personally and professionally to reevaluate how we interact and transact. Collectively as an industry, we are examining hospitality concepts and redefining experiences in the immediate, short- and long-term. Good concepts will carry over and areas that were not thriving pre-pandemic are unlikely to reemerge. This is a time of refinement and cleanse. Balancing the bottom line Balancing the bottom line is now a two-part equation. Existing projects must adjust through a comprehensive review; a deal initially showing x, is now x minus one. Initial underwriting requires a specified output and...