susan furbay
Driving GOP During Inflationary Growth and Rising Labor Costs
Susan Furbay | May 25, 2022
By Susan Furbay High staff turnover has always been one of the biggest management challenges faced by owners and operators in the hospitality industry. But now, as the nation is experiencing record levels of inflationary growth, rising wages, and labor shortages, the hospitality industry is encountering extreme difficulty finding workers. So, how are hotel owners and operators managing rising labor costs and inflationary risk to drive their bottom line during these unprecedented times? Aggressive Revenue Management Unlike other real estate classes, such as office and residential buildings, where profitability is tied to multiyear leases,...
Modular Construction: An Evolution in the Development of Modern Hotels
Susan Furbay | May 17, 2017
By Susan Furbay The term "modular construction" once conjured images of small construction trailers or antiquated mobile home clusters just off the highway—not the most alluring draw for high-end developers and top-tier hotel companies, nor for their gentried clientele. Today, however, the concept of modular construction has evolved, with developers across the U.S. adopting a modular approach to building 2- to 4-star select-service, full-service, and even boutique hotels. This article gives a brief overview of the evolution of modular construction, as well as the potential benefits and challenges in terms of cost, timelines, and f...
HVS Key Takeaways: Boutique Hotel Investment Conference 2016
Susan Furbay | July 11, 2016
By Susan Furbay The conference keyed in on ways for independent hotels to gain ground in today's market, from financing avenues to booking channels. Changes in consumer behavior, with tastes favoring the hotel "experience" more than price or brand, were a highlight. The following are some key takeaways from this year's Boutique Hotel Investment Conference. Evolution of Consumer Tastes in Travel Over the past several years, hoteliers have become aware of the rise of the Millennial generation of travelers and the shifts in consumer behavior its preferences have brought about in the field of hospitality. Price still matters. So does conven...
Four Key Takeaways | Meet the Money 2015
Susan Furbay | May 19, 2015
By Susan Furbay, Li Chen and Luigi Major Hoteliers and financiers met in Los Angeles to discuss the pitfalls and possibilities for U.S. hotel investment as the industry continues its upturn in performance. As hoteliers from coast to coast convened in Los Angeles, it was clear that 2015 is indeed the year to "Meet the Money." Hotel professionals remain confident that the upturn in the industry will carry on throughout this year and into several more. This enthusiasm about performance is kept not just by hotel owners and developers, but by traditional lenders and alternative capital providers as well; however, it does not come without ca...
U.S. Hotel Supply Growth Still in Check with Demand
Susan Furbay | May 12, 2015
by Susan Furbay MAY 2015 Years of rising average daily rates and demand, among other factors, have made the ground fertile for new hotel supply. How will the growing pipeline of new hotels impact hotel markets in the near term? The U.S. hotel industry has reaped sizable benefits from the remarkable growth in the U.S. since the Great Recession. Nationwide lodging demand has been up year after year. RevPAR growth in 2014 was one of the highest on record, and demand across all chain scales shows every sign of accelerating in 2015. This is particularly true for urban gateway markets, where high demand for rooms allows owners to raise rate...
Five Key Takeaways from Americas Lodging Investment Summit
Tanya J. Pierson | February 10, 2015
By Tanya Pierson, MAI; Brett Russell, and Susan Furbay Presentations and conversations at the 2015 ALIS conference touched on everything from new brands and supply to how falling oil prices, a rising dollar, and stability in the capital markets are affecting prospects for U.S. hotels. The Coming Horizons for U.S. Hotels The U.S. hotel industry stands on solid ground as we enter 2015, and this year's Americas Lodging Investment Summit (ALIS) engendered confidence that the strong performance should carry on well into next year. Beyond that, however, questions remain, and nearly everyone in attendance was concerned with how long this perfo...
