NEWH - Spring 2018 - 4

GUEST PERSPECTIVE

Hospitality
Predictions for 2018
BY ANDREA GRIGG, EVP - Head of Asset Management,
North America, JLL Hotels & Hospitality Group

F

ollowing a year of too much capital chasing too few assets, there are several factors
that will encourage hotel owners to sell in 2018. Private equity firms, for instance, are
expected to dispose of assets that were purchased in 2013 and 2014 and are reaching
the end of their intended holding period. Real estate investment trusts (REITs) will benefit
from a reduced top tax rate under the new tax bill, allowing them to shelter more income.
Many owners who adopted a wait-and-see approach in 2017 will bring their assets to market
as they adjust to the extended cycle that has become the new normal. Some owners will be
more open to opportunistic, value-add purchases, including hotels that need maintenance
and capital improvements.
From a transaction and investment perspective, 2018 is likely to be a stable year for
hotels. But the broader hospitality industry itself will see some exciting transformation and
continued pressure to keep the guest top of mind.

Andrea Grigg

Trends to Watch
From the lobby to the guestroom, technology will be at the forefront for hoteliers in 2018.
Providing free, high-speed wifi is no longer enough to satisfy consumers, who rely on a
number of different devices for day-to-day needs. Hotel owners must think above and
beyond about how they can use technology to improve the guest experience and give
travelers access to the same comforts they enjoy at home.
Another shift that will have a significant impact on the hospitality industry in 2018 is the
evolution of the office space. The co-working movement is forcing businesses to rethink
their office space, and some brands are even teaming up with accommodation-sharing
platforms to attract corporate travelers. In response, some hotels are now incorporating
business-focused common areas that allow guests to have a flexible place to work without
having to pay extra for a service like WeWork. This extra perk will help hotels get the most
bang for their buck in terms of space and continue to attract business travelers.

2018 Outlook
Projected stability in transaction activity and solid national lodging fundamentals have given
investors an optimistic outlook for 2018. Though there are some concerns about the impact
of the open and active debt market, which might encourage owners to refinance instead of
sell, motivated sellers will find buyers ready to step up to the plate, which will make for a
healthy pipeline of transactions.
Exciting innovations in the form of new technologies and evolving working spaces will
challenge hoteliers to keep the consumer top of mind this year, which bodes well for the
future of hospitality.
Andrea Grigg leads North America's Asset Management practice for JLL. In addition
to overseeing the practice, Ms. Grigg is personally involved in the strategic asset
management of the entire JLL AM portfolio and interacts with senior level ownership,
brand, and management executives. Ms. Grigg brings 20+ years of leisure real estate
and hospitality industry experience to her role as practice leader, including luxury resort
and master-planned community operations, international consulting, and hotel asset
management. ❙❘❚
4

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NEWH - Spring 2018

Table of Contents for the Digital Edition of NEWH - Spring 2018

Newh - Spring 2018
Table of Contents
Guest Perspective
Who’s Who
News
Conference Roundup
Have You Seen?
Scholarships
Sustainability
Q&A: Shannon Vance
Q&A: Kelly Gaddes
Q&A: Cynthia Guthrie
On the Cover
Project: Waldorf Astoria Beverly Hills
Project: Perry Hotel Key West
Project: Township
Chapter Highlights
Save the Date
New Members
Partner Profiles
Ad Index
NEWH - Spring 2018 - Newh - Spring 2018
NEWH - Spring 2018 - Cover2
NEWH - Spring 2018 - Table of Contents
NEWH - Spring 2018 - Guest Perspective
NEWH - Spring 2018 - 5
NEWH - Spring 2018 - Who’s Who
NEWH - Spring 2018 - 7
NEWH - Spring 2018 - 8
NEWH - Spring 2018 - 9
NEWH - Spring 2018 - 10
NEWH - Spring 2018 - 11
NEWH - Spring 2018 - 12
NEWH - Spring 2018 - 13
NEWH - Spring 2018 - 14
NEWH - Spring 2018 - 15
NEWH - Spring 2018 - 16
NEWH - Spring 2018 - 17
NEWH - Spring 2018 - News
NEWH - Spring 2018 - 19
NEWH - Spring 2018 - 20
NEWH - Spring 2018 - 21
NEWH - Spring 2018 - 22
NEWH - Spring 2018 - 23
NEWH - Spring 2018 - Conference Roundup
NEWH - Spring 2018 - 25
NEWH - Spring 2018 - 26
NEWH - Spring 2018 - 27
NEWH - Spring 2018 - Have You Seen?
NEWH - Spring 2018 - 29
NEWH - Spring 2018 - 30
NEWH - Spring 2018 - 31
NEWH - Spring 2018 - 32
NEWH - Spring 2018 - 33
NEWH - Spring 2018 - Scholarships
NEWH - Spring 2018 - 35
NEWH - Spring 2018 - Sustainability
NEWH - Spring 2018 - 37
NEWH - Spring 2018 - 38
NEWH - Spring 2018 - 39
NEWH - Spring 2018 - Q&A: Shannon Vance
NEWH - Spring 2018 - 41
NEWH - Spring 2018 - Q&A: Kelly Gaddes
NEWH - Spring 2018 - 43
NEWH - Spring 2018 - Q&A: Cynthia Guthrie
NEWH - Spring 2018 - 45
NEWH - Spring 2018 - On the Cover
NEWH - Spring 2018 - 47
NEWH - Spring 2018 - 48
NEWH - Spring 2018 - 49
NEWH - Spring 2018 - 50
NEWH - Spring 2018 - 51
NEWH - Spring 2018 - Project: Waldorf Astoria Beverly Hills
NEWH - Spring 2018 - 53
NEWH - Spring 2018 - 54
NEWH - Spring 2018 - 55
NEWH - Spring 2018 - Project: Perry Hotel Key West
NEWH - Spring 2018 - 57
NEWH - Spring 2018 - 58
NEWH - Spring 2018 - 59
NEWH - Spring 2018 - 60
NEWH - Spring 2018 - 61
NEWH - Spring 2018 - Project: Township
NEWH - Spring 2018 - 63
NEWH - Spring 2018 - 64
NEWH - Spring 2018 - 65
NEWH - Spring 2018 - 66
NEWH - Spring 2018 - 67
NEWH - Spring 2018 - Chapter Highlights
NEWH - Spring 2018 - 69
NEWH - Spring 2018 - 70
NEWH - Spring 2018 - 71
NEWH - Spring 2018 - 72
NEWH - Spring 2018 - 73
NEWH - Spring 2018 - 74
NEWH - Spring 2018 - 75
NEWH - Spring 2018 - 76
NEWH - Spring 2018 - 77
NEWH - Spring 2018 - Save the Date
NEWH - Spring 2018 - 79
NEWH - Spring 2018 - 80
NEWH - Spring 2018 - 81
NEWH - Spring 2018 - New Members
NEWH - Spring 2018 - 83
NEWH - Spring 2018 - 84
NEWH - Spring 2018 - 85
NEWH - Spring 2018 - 86
NEWH - Spring 2018 - 87
NEWH - Spring 2018 - Partner Profiles
NEWH - Spring 2018 - 89
NEWH - Spring 2018 - Ad Index
NEWH - Spring 2018 - Cover3
NEWH - Spring 2018 - Cover4
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