From Lodging Hospitality eReport:
It’s been hard spotting the silver lining in this difficult period for the hospitality industry. But I may have found it last week at the inaugural Lifestyle/Boutique Hotel Development Conference at the Fontainebleau Hotel in Miami Beach. As you’ll see when you read this edition of our eReport newsletter, speakers and attendees at the conference were nearly universal in their belief that boutique and lifestyle hotels may point the way out of the downturn. Link over to the article.
Boutique hotels, as several speakers remarked, are good investment vehicles when properly designed, positioned, marketed and perhaps most importantly, operated. They’re often more expensive to build and operate than a plain-vanilla hotel, but as Cambean Hospitality founder Brian Scheinblum contended, the rewards can clearly outweigh the risks when done right.
It was also heartening to see the large turnout for the event (about 275 people), including many developers and entrepreneurs seeking to get into the business for the first time. Sure, times are tough, but smart, creative and well-capitalized business people will respond when given the right opportunity.