Hospitality Market in South Florida is Headed Towards a Brighter Future in 2019

• From left: Scott Lunine, Vice President/Regional Manager, Marcus & Millichap; Michael McArdle, Associate, Marcus & Millichap; Hitesh (HP) Patel, Chairman, AAHOA; Stephen Siegel, President, H-CPM; Ahmed Kabani, Vice President Investments, Marcus & Millichap; Scott Sickeler, Principal, BLUR Workshop Architecture & Interior Designs; John Lancet, Managing Director, HVS; Vinay Rama, CEO, Mandala Holdings; Mario Garcia-Serra, Shareholder, Gunster

Hitesh Patel

MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, along with Ahmed Kabani hosted their third annual Hotel Investment Forum at the Pullman Miami Airport Hotel on Oct. 18^th, according to Scott Lunine, Vice President and Regional Manager of the firm’s Miami office.     

      

Event Included:

Ahmed Kabani

AAHOA Chairman, Hitesh (HP) Patel delivered a powerful and inspiring keynote address discussing some of the pressing issues facing the hospitality sector. 

·   National and local hotel current market overview and forecast for 2019 presented by:

o    John Lancet, Senior Managing Director, HVS Consulting & Valuation

·   Capital Market update focused on current trends and expectations in financing opportunities for hospitality investment properties by:

o    Robert Bhat, Senior Director, Marcus & Millichap Capital Corporation

Panel of industry experts from diverse specialties delivered comprehensive insight into the hot topics in hospitality.

John P. Lancet

Event highlights:

Keynote Address:

HP spoke about the implications of current Federal, State, and Local legislative priorities.  He also explained AAHOA’s initiative and training program to combat human trafficking.  For information on AAHOA’s Training Program visit:  https://aahoa2018-humantrafficking.streampoint.com/

• South Florida hotel operators will face greater competition as developers continue to deliver new hotel rooms in Miami-Dade County and Broward.
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• Existing hotel operations are going to have to emphasize yield management to remain competitive in current state of the market.

Robert Bhat

• Hoteliers welcome competition from the likes of Airbnb, but demand they are subjected to the same laws and regulations to ensure fairness.

• Cost and availability/stability of labor continues to be of great concern.  Hoteliers looking for solutions to staffing problems.

• The Kabani Hotel Group of Marcus & Millichap continue to organize events that bring together industry experts to discuss the issues facing hoteliers today, and how to prepare for the issues that face them in the future. 

CONTACT:

Daniella Aragon

Marketing Coordinator

Marcus & Millichap 5201 Blue Lagoon Drive Suite 100 Miami, FL 33126 (786) 522-7000 main (786) 454-0094 mobile (786) 522-7010 fax daniella.aragon@marcusmillichap.com