What makes some hotels more successful than others? It is true that the selection of a site, market, brand, and management team are crucial to the success of a property.
But after many years at HVS in the Consulting & Valuation division, and hundreds of consulting assignments later, I contemplated the question, “Aside from these things, what really makes some hotels work?” In this article, I share what I believe to be some of the most important factors that must be considered in the acquisition or development of a hotel, which ultimately lead to a property’s financeability, profitability, and long-term success.
I have focused on owners, developers, or hospitality teams that consistently outperform the market with their acquisition or development projects, and have set to distill their priorities into an easy-to-understand summary.
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