Tips from a Nightclub Security Expert on Bar Patron Safety
If you are a hospitality asset manager and oversee hotel real estate investments in your investors portfolio that include lodging property in San Francisco, consider yourself lucky. Not because my group has been based here for over twenty-five years or because it’s a world class city second to none in many categories. It’s because the hotel industry here has always enjoyed historically higher rates and occupancies than most other cities in the USA. Although there is still talk of struggling hotels in other parts of the country, based on these recent statistics, it certainly doesn’t appear to be the case here in San Francisco. Consider these excerpts from this recent news report from HotelNewsNow.com as to why: #1 in Top 25 Hotel Markets “The city’s hotel industry is booming, leading the top 25 U.S. hotel markets in year-to-date growth for both average daily rate (14% to US$147.56) and revenue per available room (21% to US$114.56), according to HotelNewsNow.com’s parent company STR. Overall for the U.S., industry averages clock in at a significantly slower pace, up only 3.5% in ADR and 8.2% in RevPAR.” Read the full article to compare your hospitality asset manager lodging portfolio. Demand is Diversified “San Francisco is at once a major financial center, a solid convention market, a prime leisure destination and a bustling international gateway, said Joe Long, chief investment officer and executive VP of development for Kimpton Hotels & Restaurants, which is headquartered in the city.” Pacific Rim Location “The city’s location on the West Coast has made it a frenzied gateway for international travel—both leisure and business, said Thomas Klein, regional VP of California for Fairmont Hotels & Resorts.” There is no doubt in our own hotel dealings here at Perry Group that the large percentage of international travelers is stemming from Asia, especially the Chinese. Of course, that fact doesn’t get lost on hospitality expert Hilton Hotels and their new program aimed at welcoming visitors from China either. Or, visit our blog on other articles relating to Chinese tourism from this hotel management consultant. Are you an investor or developer looking at the San Francisco hotel market for a future acquisition or expansion? What potential occupancy % and average-room-rate would you tell your hospitality asset manager is needed in order for you to enter the SF market given the current statistics as reported in this blog?
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