The Guest Quest
from the San Diego Business Journal (Nov 11, 2013):
…Hotel consultant Robert Rauch, whose company manages several hospitality properties for clients in several regions, said all six local hotels under his firm’s direct management are undergoing some form of update, ranging from minor tweaks to major repositioning makeovers.
Rauch said the hospitality industry’s recovery is “early in the fifth inning,” with construction and borrowing costs still historically favorable, and owners generally want to time renovations to benefit later as room prices rise in a growing economy. Rising income helps raise hotel property values, which also helps owners refinance loans and invest in more competitive improvements.
“You want to move forward with a renovation as early as possible in a recovery, so that you can see a better return on your investment in the long run,” said Rauch, president of San Diego-based R.A. Rauch & Associates Inc. …
