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A dozen developments likely to rock the boutique world in 2012.
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By Matthew Hall
The boutique sector of the hospitality industry has shown some amazing resiliency during the economic turmoil of the past several years. But make no mistake about it—the design firms, owners and operators that have survived and thrived in that challenging environment have done so by working both smart and fast. To help our industry make the most of 2012, we’ve compiled some of the biggest business opportunities, challenges and changes you’re likely to encounter in the coming months. Listed below (in no particular order) are 12 trends along those lines. Read ’em and reap.
1. Hot Hotel Markets, Part I: Secondary Cities Offer First-Rate Potential
While “gateway cities” such as New York, Chicago and Los Angeles remain a major magnet for boutique hotel developments, smaller markets in the U.S. also offer the potential for boutiques to make a buck. “The key is to go to such markets as Milwaukee, where the other guys aren’t,” says Richard Millard, chairman and ceo of Trust Hospitality, operator of boutique hotels worldwide under its Desires Hotels flag. “The lack of competition at the very high end of the market in such cities means there’s no cap to the rates you can charge there.”
2. Hot Hotel Markets, Part II: Going for the Olympic Gold
In the ramp-up to this year’s Summer Olympics in London, more than a dozen boutique properties either have opened there in recent months or will do so in the first half of the year, reports hospitality consulting firm HVS. Beyond that, hoteliers of all stripes have also been staking their claims in Sochi, Russia, which will host the next Olympiad, the Winter Games of 2014. Several big-brand hoteliers—including Hilton, Interstate Hotels & Resorts, Hyatt and Rezidor—have already announced plans for that city, so don’t be surprised to see some boutique flags head that way, as well.
3. Hotel Restaurants Add Doors to Attract Locals
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