Phoenix – Independent hotels are thriving in today’s economic environment driven in large part by the power of the Internet and the soft brand revolution. Why? For the answer to that question and many others about the performance success of independent hotels and why it’s easier for them to secure financing today, attend the 2017 InnDependent Lodging Executive Summit(ILES), to be held May 15 to 17 at the Hard Rock Hotel Casino in Las Vegas. In a session titled “The Increasing Financial Appeal of Independents,” JF Capital Advisors Founder and CEO Jonathan Falik will discuss the types of financing available for independent hotel owners and the steps necessary to obtain financing. A panel of experts will provide insight on the current state of operations, valuation and capital markets.
“Technology is a driving force in today’s financing landscape,” Falik said. “Hotel owners in certain markets no longer need to ride the coattails of a big brand to have an effective central-reservation system and global-distribution system presence. The perceived quality of a hotel today is significantly influenced by online guest reviews and rankings. Twenty years ago, travelers knew what they were getting in a room and hotel experience based on the cookie-cutter nature of the brands. Now, with the Internet of Things and mobile technology, guests can see exactly what they are getting through online pictures and 360° tours, and they can hear what prior guests say by reading the top customer complaints long before they book. Using technology properly to market independent hotels and reach targeted customers drives stronger occupancy and rates, and this translates into better financial performance. The better the financial performance, the easier it is to secure funding.”
Flexibility is also key to independent market success today, Falik said. Owners and marketers can increase/decrease pricing or add services to meet market demand. If operating in a seasonal market, hoteliers can adjust their offering to increase average daily rates and maximize revenues. The more flexible an independent operator can be, the more money the owner will make; this is especially true in high occupancy markets. In low occupancy markets, the brands tend to fare better due to consumer familiarity and comfort level with the flag.
“It’s a confusing time to be a hotelier,” Falik said. “Most of the analysis shows that in major markets, there is not a lot of significant benefit to flying the flag of a major brand. But, lenders like it. If you need construction financing, for example, it may be easier to secure it as a brand – or even a soft brand. To learn why, come to this this session. We’ll explain how to get a project financed … what the future holds … and we’ll even dive into the controversial topic of Airbnb and how it is impacting this segment.”
Joining Falik to discuss financing for independent hotels will be industry experts and thought leaders Richard Bosworth, Bosworth Hospitality Partners LLC Managing Partner; Guy Maisnik, JMBM Global Hospitality Group Partner & Vice Chairman; and Evan Weiss, LW Hospitality Advisors Co-Founder & Executive Vice President.
“This session is sure to be entertaining and engaging,” Falik said. “Each of the panelists is an expert at public speaking and thinking on the fly. They have years of experience in working with independent and non-branded assets across major and secondary markets, and each will offer the insight needed to discuss the details of financing for independent hoteliers. We hope you join us at ILES for this lively and educational session.”
To register for ILES, click here. The conference is co-produced by IBC (InnDependent Boutique Collection), the Independent Lodging Industry Assn. (ILIA) and Hotel Interactive – and it is sponsored byAsian Hospitality, Hotel News Now, Hotel Management and Lodging magazines. In addition to the tradeshow, ILES will provide two days of informative educational sessions. For the first time, BITAC Independent (a Hotel Interactive event) will be held in conjunction with ILES.
Lodging is available at the Hard Rock Hotel & Casino Las Vegas at the ILES 2017 group rate of $105 per night; including event shoulder nights (2 days before and 2 days after). For more information on the Third Annual InnDependent Lodging Executive Summit, call (602) 944-1500 or email firstname.lastname@example.org. For details on BITAC® ILES, call (631) 424-7755 x150 or email email@example.com.