Amid the race for returns in the real estate industry, hotel development and operations have grown increasingly challenging from a viability perspective. Inflation, interest rates, land and labor costs, access to financing are an elusive puzzle for owners and operators while shifts in the industry take root and the economy recalibrates.
The reality is consumers are often paying more for hotel stays and getting less while preferences change. One firm successfully navigating the moment and the market with a long-term lens is Mountain Shore Properties. In a pivot towards boutique hotel development, the firm is bringing newfound enthusiasm to thoughtful hospitality experiences in up and coming neighborhoods across the country with two new openings this year in Louisville and the Hudson Valley. Boutique hotels offer opportunity for an authentic and novel experience for the guest along with significant upside for savvy owners and operators.