“Dr Doom” forecasts “rough ride” ahead for hoteliers

New properties approved during the boom are coming to the market

Joel Ross, principal of Citadel Realty Advisors, also known as “Dr Doom” by regular readers of his columns about the economic outlook facing hoteliers, writes that “many in the hotel industry are in for a rough ride going forward.” To stay competitive, he says, hotels need to invest in a cost-effective way in order to offer an excellent yet economical customer experience. Right now, he adds, “it is all about operational expertise, revenue management, customer service and maintaining the asset.” Many properties are starting to look over-worn but lack the money for renovation. At the same time, many of the projects that were approved in the boom years are coming onto the market. It may be possible that nothing new will be added for a while, but older properties will have to be kept up and stay hospitable to remain competitive. Meanwhile, hoteliers should not be persuaded by projections of big increases in the value of assets.
[pictured: Radisson Blu Hotel Latvija, Riga]


Check Also

Radisson Hotel Group, hotel, stay, red, Iceland, Reykjavik, Noric, Scandinavia

Radisson names first RED in the Nordics

Radisson Hotel Group has announced the signing of the region’s first RED, due to open in 2020.

vno, Vilnius airport, development, business centre, conference, meeting, Radisson, contract, hotel

Radisson to open next to Vilnius airport

Radisson Hotel Group signs a contract for its sixth hotel in Lithuania, expected to open in 2020.

Radisson Hotel Group, appointment, Radisson Blu, Vilnius, Lietuva, Lithuania, management, GM, general manager, Strand, Stockholm, Milan, Rome, Massimo Supino

Former Radisson Blu Strand GM moves to Vilnius

Italian hotelier Massimo Supino takes over as the new general manager of the Radisson Blu Lietuva.

Rezidor, Carlson, Radisson, name, change, brand, HNA, owner, image, ITB, launch

Carlson Rezidor to become Radisson

Owner HNA Group will drop the name Carlson Rezidor Hotel Group from early March.

Vilnius set for hotel boom in 2018

Lithuania’s choice of rooms and meeting rooms to expand

Tivoli, Copenhagen, online gaming, gambling, reputation, letter, pensioner, lost

Copenhagen hotel capacity rises steadily

Variety of new and renovated hotels add to trend