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893: Navigating Hotel Development Evolution w Vision's Mitch Patel
Manage episode 434755954 series 3560444
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We discuss current trends and challenges in the hospitality industry with Mitch Patel, CEO of Vision Hospitality Group, focusing on the rise of extended stay hotels, innovative development strategies, and the importance of creating memorable guest experiences.
Mitch shares his expertise on:
Extended Stay Success: Why extended stay properties have become a "darling" of the industry, and how Vision Hospitality has leveraged this trend.
Development Challenges: Navigating construction cost volatility, labor shortages, and high interest rates in today's hotel development landscape.
Lifestyle Select Service Hotels: The growing popularity of lifestyle select service hotels, combining boutique elements with efficient business models.
Experiential Design: How hotels are prioritizing memorable guest experiences, from room design to public space activation.
Profitability Beyond Room Rates: Innovative strategies to boost profit per available customer through food and beverage, rooftop bars, and more.
This episode offers valuable insights for hospitality professionals, developers, and anyone interested in the future of hotel design and operations.
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