PHOENIX—Maximizing the value of a hotel asset and increasing investment return with a comprehensive analysis of location, competition, hotel segment, renovations and cost is crucial in the industry. The Clear Path to Property Repositioning session at The Lodging Conference, held at The Arizona Biltmore Resort and Spa, took a hard look at these factors and others.
The panel was moderated by Daniel Lesser, president and CEO of LW Hospitality Advisors and included panelists David Capps, vice president of development, Aimbridge Hospitality; Navin Dimond, president and CEO of Stonebridge Companies; David McCaslin, president of Northwood Hospitality; Phil Silberstein, executive vice president of development, Carlson Rezidor Hotel Group; and David B. Storm, president and CEO of Providence Hospitality Partners, LLC.
Regarding strategy of repositioning properties, McCaslin said, “We tend to go after more complicated assets. We look at the real estate and we tend to hold for 15 years. Once we stabilize, we begin to pick our exit strategy; we need to try and plan for when the market is in our favor.”
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