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Hoteliers: Not Much Happens Without Capital

PHOENIX-The lodging industry remains at a standstill until the financing markets unlock.

By Maria Wood | Updated on September 25, 2009

PHOENIX—For an event that revolves around the hotel industry, much of the discussion at the 15th annual Lodging Conference focused on capital–specifically the lack of it. Not a lot can happen–from consolidations to renovations and new brand rollouts–until money begins to flow into the industry once again.

Thursday’s session of the three-day event held here at the Arizona Biltmore kicked off with a “View From the Top Panel,” which featured six high-ranking hotel executives: Jim Anhut, chief development officer–the Americas, InterContinental Hotels Group; Joel Eisemann, EVP, owner and franchise services and lodging development for select service and extended stay for Marriott International Inc., Stephen G. Haggerty, global head of real estate and development, Hyatt Hotels Corp.; Thomas R. Magnuson, CEO/principal of Magnuson Hotels; Peter Strebel, chief revenue and development officer, Dolce Hotels & Resorts; and Jeff Wagoner, president of Wyndham Hotels and Resorts. Dennis Nessler, editor, Hotel Business, served as moderator.

Haggerty predicted that some form of consolidation will occur in the lodging industry globally due to its fragmented structure. However, he added that it is tough to do and will probably occur at a minimal level.

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