While banking, energy and healthcare are clear demand drivers, Charlotte has a big 2017 in store with Hamilton and the PGA Championship coming to town. Charlotte’s tourism is outperforming the rest of the state; in 2015 tourism generated $160 million in spending. However, Charlotte recently took a major financial hit with the passing of House Bill 2, which has turned away a plethora of business and leisure related events. The NBA announced it will move the All-Star Weekend from Charlotte to New Orleans, costing the city $100 million.
The Charlotte Opportunity
Charlotte’s pipeline is very strong, with 306 hotels currently open and 66 to be built, generating 8,970 more rooms. Supply is up 1.1% and demand is up 3.1%. A mixed-use development is planned for northeast Mecklenburg County from Charlotte-based MPV Properties, which will feature residences, retail stores and a hotel with 120 rooms. The city center is seeing the most traction with $2 billion worth of development projects in 2016 and another $2.7 billion in 2017.
Current projects taking place:
- The $50 million 250-room Embassy Suites by Hilton will open in 2017
- A West Elm hotel is on the books
- A 195-room Springhill Suites is set to open April 2017
- A 300-room dual-branded Residence Inn and AC Hotel by Marriot will open in 2018 on top of the EpiCentre
- A 250-room Embassy Suites by BPR Properties will open across from the Nascar Hall of Fame in 2017
Past valuations and transactions that speak to the current opportunity include:
- Thirteen hotel deals have been recorded since June 2014, and five of these were over $20 million in price
- Hotel valuation is expected to increase 2 percent this year, and grow 13 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.