Nationwide Franchise Assistance for Hotel Owners
The So-Called Hotel "Recovery"
Windermere, Florida - October 03, 2011 - I am so completely sick to death of all the irresponsible nonsensical indications of recovery so many hospitality professionals are taking part in.On the conference circuit, so many of the talking heads and CEOs of large hospitality companies are saying that everything is getting better, that things are trending upward and whatever other nonsense they feel compelled to say in order to continue selling their products and services. Many of the trade publications, not all but many, join in that banter because, after all, the talking heads pay for the ads in their publication and you can’t upset an advertiser, not in this economy that’s for sure.
In the interim and where the rubber meets the road, legitimate developers and investors are scratching their heads wondering where is the joy and jubilee that they are reading about. I have been saying for over a year, that while there may be positive pockets here and there, for the most part our industry is not in a recovery mode nor can it or will it ever be in a recovery mode again until the fundamentals of our government and the basic economic climate changes for the better.
Getting a loan for a new construction is difficult at best. Why? Very Simple. Our government, like governments in other countries has no real solutions as how they are going to pay off the exorbitant debt in which they have irresponsibly created.
Despite all the rhetoric you hear on television each and every day on CNN, MSNBC, etc. our government appears incapable of solving our fiscal problems. As a result, confidence and trust has declined dramatically among our industry, along with other industries as well as the investment community at large. As a result of these issues, lenders are simply not lending and consumers are beginning to become frightened and they’re staying home rather than taking trips. Businesses are also becoming frightened so they are reducing their travel and now even that all-important indicator, “REVPAR” is starting to decline as well. This is indeed a sad time for the US and the lodging industry as well.
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