While both supply and demand are up, Baltimore’s hospitality industry is steel feeling the financial hit from 2015’s protests and violent unrest. The only way to come back is to change the perception of the city. Visit Baltimore, the city’s CVB, has a campaign out to convince the city and state to build a new convention center, which would drive business dollars back into the economy. Baltimore’s City Council is also working toward attracting meetings and conferences currently scheduled in North Carolina looking to move due to the recent passing of House Bill 2.
The Baltimore Opportunity
There are currently 274 hotels with 33,667 rooms in the Baltimore market, with 25 new hotels in the pipeline. Healthcare is driving the development opportunity, with a Hampton Inn by Hilton to open near the Johns Hopkins Bayview Medical Center in 2018, and plans for a new hotel on the campus of West Baltimore’s University of Maryland BioPark. The hotel is expected to be built near the $270-million Maryland Proton Treatment Center that opened in 2016.
Current projects taking place:
- A new office building and an 8-story, 119-room Courtyard by Marriott hotel are planned for McHenry Row in Baltimore from 28 Walker Development
- Hilton Garden Inn in downtown Baltimore will open in June 2018
- The 150-room Delta Hotels Baltimore Inner Harbor from Marriott opened in January
Past valuations and transactions that speak to the current opportunity include:
- Transactions have been slow over the past few years, with just six hotels that sold at an average per-room price of $160,000 since 2014.
- Fairfield Inn & Suites by Marriott Inner Harbor sold for $18.4 million.
- Baltimore hotel valuation is expected to grow 3 percent this year and 14 percent over the next four years
Because, you will be armed with ideas, solutions and actionable insights that will make an immediate impact on your property. Whether you focus on infrastructure investment opportunities or strategies that force you to “think and act locally” in targeting specific growth sectors, you can take steps that positively influence your ROI.
7:45am -8:45am REGISTRATION & NETWORKING BREAKFAST
8:45am-9:00am WELCOME | Hotel Management & AAHOA
9:00am - 9:30am MARKET SNAPSHOT
In this opening kickoff, our local market expert delivers the facts and figures you need to know to make intelligent business choices. Your asset and bottom line will thank you.
9:30am – 10:00am LOCAL INTEL
Join a regional expert, who will convey what’s really going on at the street-level so that your next business decision is backed up by the right intelligence from a local source.
10:00am – 10:45am MAXIMIZING REVENUES
In this two-part, income-driven session, panelists serve up hot takes on how to increase revenues by pulling levers associated with the rooms and F&B departments, get a "how-to” on savvy revenue-management tactics and OTA optimization to upselling opportunities and more.
10:45am – 11:00am NETWORKING COFFEE BREAK
11:00am – 11:45am MINIMIZING COSTS
Whether above or below the GOP line, variable and fixed costs can eat into your asset’s profitability. This panel will tell you how to manage these costs—from sales and marketing, commissions and salary and wages, to franchise fees, insurance, taxes and FF&E reserves.
11:45am – 12:30pm BRAND MATTERS
In this panel, brands make their case as to why they can deliver the most to your bottom line, while management companies and franchisees give their success stories.
12:30pm – 1:45pm NETWORKING LUNCH
1:45pm – 2:45pm SECOND TAKE
This panel takes aim at hotels in secondary and tertiary markets and explains how to get the most out of your asset when it’s not located in a top MSA.
2:45pm – 3:30pm EXIT STRATEGY
Experts weigh in on how to get your hotel in tip-top shape, through covering debt service to funding a PIP. Here are the dos and don’ts you need to know toward windfall profits.
3:30pm - 3:45pm TAKEAWAYS | Hotel Management & AAHOA
Before you head back to the office, we will walk you through "how to" implement your new plan.