24 May 2024
See how JMBM’s Global Hospitality Group® can help you.
JMBM’s Global Hospitality Group® hosted the 31st edition of Meet the Money® national hotel conference on May 6-8, 2024. Alongside exciting networking opportunities and insightful discussion panels, the conference featured several special presentations interpreting the latest data and industry sector highlights. In the third and final part of this blog series, we highlight the special presentations given by Troy Flanagan, Ariela Kiradjian, Jackie Collins and Paul Single.
AHLA Update 2024
Troy Flanagan, Executive Vice President of External Government Affairs and Industry Relations for the American Hotel & Lodging Association, kicked off the final day of presentations by sharing AHLA’s report on the state of the industry for 2024.
Troy discussed the results from this year’s report and what it means for the year ahead for hotels. He also provided an update on key issues impacting hotels and hotel investors being considered by the government at the federal, state and local levels.
The full presentation can be downloaded here.
Boutique Hotel Transaction Patterns
Ariela Kiradjian, Co-Founder, Partner & COO of the Boutique Lifestyle Leaders Association, continued the day of special presentations by exploring the dynamic investment landscape of independent boutique hotels.
The boutique market has seen a slight uptick in M&A as investors seek unique properties. This indicates a healthy interest in boutique properties with strong individual branding. 20% of investments came from high-net-worth individuals and family offices, which shows a diversification in the investor pool and investment strategy. There is a significant potential for growth and higher returns, particularly in secondary and tertiary cities.
The full presentation can be downloaded here.
What Every Hotelier Needs to Know About Insurance and Controlling Costs
Jackie Collins, Senior Director / VP, Hospitality Practice for Gallagher, gave the last of the Tuesday morning presentations and shared insights on insurance tailored specifically for the hospitality industry.
No two hotel insurance programs are the same and not two insurance brokers are the same. Hoteliers should work with an insurance broker that specializes in the Hospitality industry. A list of needed coverages are included in Jackie’s presentation, linked below. According to Jackie, the insurance market is drastically changing and there are ways for hoteliers to take advantage of these positive changes.
The full presentation can be downloaded here.
City National Rochdale Economic Update
Paul Single, Senior Economist and Managing Director of City National Rochdale, gave the final presentation of the conference. He gave an overview of the current economy and shared CNR’s economic outlook.
He noted that the outlook for the U.S. economy continues to be solid, based on an unemployment rate below 4% for more than two years and wages growing faster than inflation. The pace of growth is expected to moderate due to the maturing of the economic cycle and the high cost of credit. The Fed is expected to cut interest rates this year and in the next few years, allowing the economy to continue expanding.
The full presentation can be downloaded here.
Meet the Money Special Presentations
- See Part 1 of our presentation summaries here.
- See Part 2 of our presentation summaries here.
- See Part 3 of our presentation summaries here.
Save the date for Meet the Money® 2025!
Next year’s Meet the Money® conference is set for May 5-7, 2025 in Los Angeles, and planning is already underway. Please save the date on your calendar.
About Meet the Money®
For over 30 years, Meet the Money® has created an energetic environment to forge relationships, negotiate deals, and gain an in-depth understanding of hotel investment and finance. Our national hotel conference attracts heavy hitters and offers an opportunity for productive, one-on-one networking with them.
This is Jim Butler, author of www.HotelLawBlog.com and founding partner of JMBM and JMBM’s Global Hospitality Group®. We provide business and legal advice to hotel owners, developers, independent operators, and investors. This advice covers critical hotel issues such as hotel purchase, sale, development, financing, franchise, management, ADA, and IP matters. We also have compelling experience in hotel litigation, union avoidance and union negotiations, and cybersecurity & data privacy.
JMBM’s Global Hospitality Group® has been involved in more than $125 billion of hotel transactions and more than 4,700 hotel properties located around the globe. Contact me at +1-310-201-3526 or jbutler@jmbm.com to discuss how we can help.
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