Hotel Construction and Development
Santa Monica, CA
October 28 - 29, 2019
1120 Avenue of the Americas, 6th Floor, New York, NY 10036
With the new hotel construction market for California exploding and a successful inaugural conference last year, IMN is excited to bring back the only conference totally dedicated to hotel construction to Santa Monica, California, October 28-29.
There are lots of exciting hotel projects in the works in LA over the coming years. Between now and 2021, almost 40 will open, with 15 of that number being finalized this year. Los Angeles is at the epicenter of Californian hotel construction with low land rates and tourism exploding. IMN's event is a must attend for anyone in the hotel construction industry looking to capitalize on the industry boom.
IMN’s New Hotel Development conference is the only place where you will find a whole event dedicated to hotel construction and only hotel construction.
Construction financiers, feasibility analysts, development/construction managers, architects and senior hotel executives who have projects under construction or are considering taking the plunge… This is the one conference you must attend!
Who Should Attend
To view your agenda you must be signed in
Breakfast Roundtable: Women in Hotel Investment & Development
Hotel owners and developers convene for a closed-door discussion of innovation and disruption within the hospitality sector, and what opportunities are arising for enterprising women in the industry. Hear from representatives pursuing diverse strategies to create value in an increasingly competitive and varied landscape.
Behind the Boom: Macroeconomic & Industry Outlook
- What are the supply-demand dynamics in the markets you’re targeting, and how is this impacting your business strategy? Where will oversupply have the greatest impact, and what will that mean for market fundamentals in Southern California and elsewhere?
- As the hospitality industry boom continues, how are you ramping up or otherwise adjusting your investment or development strategy? Which new markets or business models are you targeting? Are there any service models that you’re avoiding?
- How are you approaching decisions to build, redevelop or otherwise invest in hotel properties?
- What travel and tourism trends do you expect to have the greatest impact on your decision to pursue certain service models? What is the impact of alternative accommodation models on the growth of the hospitality industry?
From Old Building to New Hotel: Renovation, Preservation & Adaptive Reuse
- How do you identify properties that are ripe for redevelopment? What goes into your due diligence process?
- How does your process compare for a brand PIP vs. a soft brand or independent renovation?
- Which types of properties are the most difficult to modify? How do you partner with architects, designers and local authorities to ensure feasibility? What are some key design pitfalls to avoid when undertaking these types of projects?
- How do you go about retrofitting historic buildings to bring them into compliance?
- What lessons have you learned from successful historic preservation and adaptive reuse projects?
- What systems and processes do you use to ensure smooth communication among project teams?
- What are the most innovative adaptive reuse projects underway?
To Brand or Not to Brand…or Go Boutique?
- What factors drove your decision to go with a brand? How did you go about selecting the right one? What benefits have you realized by choosing your brand? How had this impacted your underwriting?
- What design considerations go into a branded property vs. a boutique property? How do you find the right balance of shared vs. private spaces? How does the amenity mix compare?
- What are some of the most creative applications of branding in adaptive reuse and redevelopment projects? In which markets are these types of hotels going to become more prevalent?
- When does it make sense to rebrand? What restrictions might apply? Is it better to add keys or renovate?
- How are brand standards changing? Which are the newest brands to be introduced, and will you adopt them?
- What are the newest soft brands, and how are they distinguishing themselves with customer engagement, sales and marketing strategies?
Financing Value-Add Deals
- What does into your decision to do a deep renovation, or make light improvements? How do you underwrite each of these strategies, and what are the returns on investment? How much are you leveraging value-add hotel projects?
- Where are you sourcing alternative financing? To what extent are private debt funds filling the gaps left by bank lenders in the hotel space?
- Where are you finding the best financing terms for renovation and redevelopment projects?
- Which markets are offering the best ROI for value-add hotel projects?
- What are the main challenges and risks of undergoing large-scale value-add projects, including resorts, luxury and mixed-use developments?
Private Capital Roundtable: Equity, Debt & Opportunity Zones
- How do private equity investors view the hotel market? In which submarkets and with which service models are they unlocking value? What’s their take on construction risk at this late stage in the economic cycle?
- What’s the outlook for private debt fundraising for hotel construction and development projects?
- What terms are required preferred equity, senior and mezzanine debt?
- What terms do PE investors require for providing capital for new construction?
- How do PE investors view value-add opportunities in the hospitality space? What strategies have proven effective at growing revenue?
- Have you uncovered attractive yields in secondary or tertiary markets? Are there any to avoid?
- How are you approaching hotel investments in opportunity zones? What are the complexities associated with executing these deals, and what are the less obvious pitfalls to avoid?
Financing New Construction
- How do construction debt financing terms differ across markets? What terms are different types of lenders offering?
- Where is construction debt drying up? Where are defaults on the rise?
- For what types of projects and in which markets are you finding deals that aren’t penciling out?
- What sources you relying on for construction debt and equity?
- To what extent are you using public financing for hotel projects? How are you underwriting deals involving government financing?
- Are you relying on offshore capital to finance deals? What are the primary sources, and which are pulling back?
- How are institutional investors, high-net worth individuals, sovereign wealth and pension funds approaching hotel construction and development?
- How does your process for securing financing differ for partnerships vs. single equity sources?
Managing Risk in Anticipation of a Market Downturn
- How can you best posture to enforce investor funding commitments? What protections do you have in the event your investors refuse to provide committed funding?
- How can you best posture to address management issues in the event your manager’s reservation system is not robust enough for a down market? What protections do you have should you need to change management?
- What protections do you have in the event your general contractor is cutting corners to save money? How can you best posture to switch contractors efficiently in the event such is necessary?
- What protections do you have in the event your lender refuses to fund construction draws? What protections do you have in the event your lender refuses to fund a working capital line of credit? How can a lender best posture itself to prevent credit defaults and the need to enforce remedies?
- What are you doing to manage construction budgets amid soaring labor, land and material costs, and in a tariff-war environment? How much are you leveraging new construction projects?
- What technologies do you use to manage risk from pre-construction through project completion?
- What features are you implementing to climate-proof your properties? Does your insurance policy address natural disasters and completion risk?
- What are you doing to improve the safety of your properties, including addressing active shooter and fire risks? What plans have you put in place, and how do you ensure adherence?
How Smart Is Your Hotel?
- What returns are you realizing on your investment in smart technology? How are you integrating IoT devices into smart guestrooms?
- When it comes to smart technology, what are the expectations of today’s travelers, are what are you doing to exceed them?
- What are the most compelling applications of AI in hotels today? How are you using it across your portfolio, and what does this mean for the guest experience? How close is the industry to eliminating the concierge desk altogether?
- How are you leveraging data-mining to gain intelligence into your customers, and how are you applying these findings throughout the construction and development processes?
Innovations in Hospitality Technology
- What are the newest innovations in access technology, and how can you be sure that the technology is safe, secure and cost-effective, while also enhancing the guest experience? How are hoteliers using technology to convey and reinforce design elements?
- How do you strike the right balance between offering a high-touch, information-driven experience and protecting a wealth of secure, personal data?
- What are your main cybersecurity pain points, and what are you doing to address them?
- What technology has enabled you to streamline your hiring and retention process, as well as improve staff training and engagement?
- How are you using technology in pre-construction, construction and development? Which solutions have improved communication and collaboration?
- What will be the next major innovation in hospitality technology?
Tech-Enabled Solutions for Managing Expense Creep
- What technologies and processes do you use to project and control expenses? Are you considering phasing out any and adopting new models?
- Which systems and solutions have helped you achieve meaningful cost savings? To what degree are you leveraging construction technology?
- What are you doing to manage increasing costs in a tight labor market?
- How are you underwriting rising land and materials costs into your proformas? What construction methods and materials promise to meaningfully lower these cost inputs?
- How do you manage the relationship with your architect and designer, and what do you do to maintain quality control over operational decisions?
Right-Sizing Your Operation: Keys to Success
- What is the optimal size of your operation? How many keys are efficient for filling rooms and streamlining operations?
- Should you go with a full- or limited-service model? Select-service or extended stay? What are the challenges and benefits of each?
- What’s the right ratio of meeting space to rooms? What is the sweet spot for room sizes, and how can you best guest expectations even with a smaller footprint?
Hotel Owners Executive Roundtable
- Are you buying, selling or holding in today’s market? Are you pursuing portfolio or single-asset deals?
- What does your development pipeline look like? What is your outlook for the hotel development sector?
- What do you consider to be the best opportunities and most pressing risks for the industry on the horizon? Where do you anticipate M&A activity in the coming years?
- What software do you use for data analytics? What are you uncovering about labor trends and market dynamics?
- What are your main cost drivers and how are you managing them? What strategies have proven effective at increasing revenue per square foot?
- What do you expect to be the most disruptive technologies and trends in the hotel industry?
- How does the hotel construction and development pipeline differ across L.A. submarkets? What are the unique characteristics of each? How do you go about evaluating submarkets for construction and development?
- How are California’s minimum wage increases impacting your operations?
- What do lenders consider when evaluating submarkets? What impact do fundamentals for other property types have on hotel performance by submarket?
- What are Southern California’s unique demand drivers for the hotel industry? How do other industries such as film and technology impact growth in the region’s hotel industry?
- With Los Angeles hosting the 2028 Summer Olympics, what will these mean for the ongoing development boom in downtown LA? Is this expected to expand beyond the urban core? What do leasing trends say about the future of hospitality in LA? What other long-term demand drivers will have the greatest impact on LA’s hospitality industry?
Global Hospitality Trends
- What goes into your analysis of potential investment, development or value-add projects in global markets? Which areas are showing the strongest fundamentals?
- What does a growing EMEA project pipeline mean for your businesses? Are you considering entering these markets? Are there any areas that are “off-limits”?
- Which geopolitical and global economic trends will have the most significant impact on the hospitality market? What risks do these trends pose in the near and long term?
- How does the hospitality pipeline compare across global markets, and how could this change in the coming years?
Reimagining Hospitality 10 Years from Now
- Which macroeconomic and geopolitical trends will have the most significant impact on hotel construction and development in the coming decade?
- Which demographic segments (Boomers, Millennials, business travelers, vacationers, luxury hotel guests) do you plan to target, and how will that impact your decision to build new vs. redevelop hotels?
- Over the next decade, which technologies will become commonplace, which do you see emerging and which will be obsolete in hospital environments?
- Whether it’s from rising interest rates, geopolitical disruption or climate, what risks is the hotel industry up against, and how will these take shape over the next several years? How will these factors impact how projects are underwritten and executed?
Future: Proofing Your Construction Plan
- How long will the hotel economy continue its bull run? How does this impact your decision to build new or redevelop?
- What type of product are you bringing to market, and where?
- What effect are interest rates having on your construction plans and proformas?
- How are consumer preferences changing, and what does this mean for hotel construction? To what extent are short-stay providers encroaching on the hotel market?
- Have you accessed any new sources of funding for construction and development?
- Is modular construction really delivering meaning cost savings? What have you learned from not-so-successful modular construction plays?
Assembling an All-Star Construction Team
- How do you handle construction and project management? Outsource or in-house?
- At what point in the process do you experience delays, and how do you manage these? What risks do you face with extended timelines, and what do you do to mitigate them?
- What types of communication and documentation management technology do your teams use? Where do you encounter challenges in getting all stakeholders on the same page?
- How does you construction team address regionally specific climate conditions? What are you doing to future-proof your properties?
- What does your vetting process for contractors look like, and how can you make it recession-proof?
- What are best practices for ensuring PIP and renovation standards are met? When is there flexibility around brand standards?
To register for this conference you must be signed in
- *Hotel Owners Super Early Bird Registration - $1,095
- *Hotel Owners Early Bird Registration - $1,195
- *Hotel Owners Standard Registration - $1,395
- Super Early Bird Registration - $1,595
- Early Bird Registration - $1,695
- Standard Registration - $1,795
- On-site registration - $1,895
- Conference Venue
Fairmont Miramar Hotel & Bungalows
101 Wilshire Boulevard
Santa Monica, CA, 90401
Please use the link above to make a reservation in our group room block, pending availability, until our cutoff date of Monday, October 7.
IMPORTANT NOTE: IMN has not retained any third party booking company to assist with reservations. If you are interested in making a reservation at the Fairmont you must make your reservation using the link above.
Tel: +1(212)901-0506 Fax: +1(212)768-2484
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