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The Top Challenges Facing the Hospitality Industry Today

July 6, 2023

Two panels, What Owners Want and Investor Outlook on the State of the Industry, at HD Expo + Conference 2023 highlighted the challenges affecting hospitality today. From money constraints to slowing supply growth and high interest rates, no topic was off limits. Below are five takeaways from these designers, developers, purchasers, and owners.

Prioritize ROI

It’s important to have critical conversations with the team early on about where to spend money and how to make money. “As an owner, we have to articulate what’s important to us,” says NuovoRE president Michael Everett. “We have evaluated the market to know we’re going to get the best bang for our buck by spending an extra million dollars on the ground floor and not over-invest in the guestrooms.”

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