Hotel Management September 2011 : Page 1
■ ➔ INBOUND TRAVEL . pulse Top destinations visited by overseas travelers. ❶ New York | 7 million The Leading Hospitality News Authority Since 1875 HospitalityWorldNetwork.com Vol. 226, No. 11 | September 2011 ➋ Los Angeles | 2.9 million ➌ Las Vegas | 2.5 million Source: Offi ce of Travel and Tourism Industries SEE PAGE 18 FOR MORE TRENDS & STATS THE LODGING CONFERENCE If you can build a hotel, now’s the time to do it By Shannon McMullen CONTRIBUTING EDITOR SEEL RELATED STORY: ◾ Acquisitions are the name of the game today Page 40 N ATIONAL R EPORT –If you have what it takes to build a new hotel, then do it. Th at’s what lodging experts are saying these days. Just how and why will be discussed further at a pan-el titled “Is Now the Time to De-velop?” at this month’s 17th Annu-al Lodging Conference 2011 at Th e Arizona Biltmore Resort & Spa in Phoenix. Off ering a preview of what’s to come, Jim Butler, partner and chair-man of the Global Hospitality Group for Jeff er Mangels Butler & Mitchell, gave the green light to those look-ing to get a start on new-build hotel projects. “Th is may be the best time in sev-eral years to start a new hotel devel-opment project, with a view to open-ing in 2013 or 2014,” he said. “Of course, all the usual caveats apply re-garding paying attention to market fundamentals.” Trends stemming from a strug-gling economy, such as a dearth of fi nancing in the past several years, meant little or no new supply in some markets. Th is paired with hotel in-dustry fundamentals improving and hotel values exceeding cost of replace-See Hotel development | page 38 Las Vegas on road to recovery Las Vegas Strip pipeline UNDER CONSTRUCTION Projects: 2 Rooms: 1,179 STARTS NEXT 12 MONTHS Projects: 1 Rooms: 145 EARLY PLANNING Projects: 4 Rooms: 2,644 TOTAL PIPELINE Projects: 7 Rooms: 3,968 Fundamentals show market is improving, despite Harmon loss By Andrew Sheivachman ASSOCIATE EDITOR ONE-ON-ONE Source: Lodging Econometrics L AS V EGAS – For Las Vegas, recent tough times may come with a sil-ver lining. No confl ict has been as illustra-tive of Sin City’s image problem as the debacle surrounding the Har-mon Hotel, which MGM Re-sorts International en-visioned as a jewel in the crown of its 67-acre, $8.5 billion CityCenter See Las Vegas recovery | page 68 JUMEIRAH GROUP’S GERALD LAWLESS Jumeirah Group stands on the cusp of global luxury expansion | See page 26 ■ ➔ TRENDS & STATS. inside this issue DEVELOPMENT. TECHNOLOGY. Boosting return on investment Advances in minibar automation and design are giving hoteliers more options for increasing their revenue. PAGE 54. Recession still affects travel Lessons learned during the downturn continue to drive and defi ne travel interactions today. PAGE 16, 18. 68-fl oor hotel coming A 639-room Residence Inn/ Courtyard combo tower is expected to open in New York City in 2013. PAGE 20.