Chief Executive Officer, Dream Hotel Group
Jay will be speaking on Seeing the Bigger Picture: How to Maximise Revenue Beyond the Bedroom, 15:00 - 16:00 on Tues 5th March during the International Hotel Investment Forum (IHIF) which takes place 4-6th March at the InterContinental Hotel, Berlin www.ihif.com
1. How would you describe the hotel investment market in 2019?
In one word; cautious. Of course, this varies by market, but I think the global consensus is to be cautious.
2. What is Dream Hotel Group’s position and strategy for the year to come?
Our goal is to maximize growth in our management contracts and to continue to invest in our global development team to execute this strategy in the U.S. and abroad, with a renewed emphasis on Asia Pacific.
3. What are the biggest challenges faced by hoteliers/investors in the current hotel investment market?
The cost of construction is skyrocketing, and finding labour continues to be a big challenge in many markets globally.
4. What existing hotel brands do you think are most interesting to watch?
We’re paying close attention to the Hoxton brand and private clubs (i.e. Soho House, Neuehouse), as well as the home-sharing market as a whole (i.e. Airbnb). Basically any disruptor in the space is always fun and very interesting to watch.
5. Who or what is the biggest inspiration guiding your career?
Early on, I loved watching anything Ian Schrager was doing. But in the last 20+ years, I’d have to say our chairman, Sant Singh Chatwal, has been the biggest inspiration and greatest mentor of my career.
6. What are you most looking forward to at IHIF?
We’re always looking for new opportunities to grow and expand the company into new markets and continue to increase exposure for our four proprietary brands – Dream Hotels, Time Hotels, The Chatwal and Unscripted.
7. You are taking part in the Asset Management session tasked with that often discussed and debated subject of how hoteliers and investors can maximise the revenue opportunities beyond bedrooms. What do you see as the main trends in this space for 2019?
As a company, Dream Hotel Group specializes in bringing the neighbourhood into our hotels via dynamic food & beverage programming. Many brands may say this, but it’s truly a cornerstone of our business. This includes exploring totally new opportunities like a live music venue at the newly opened Dream Nashville, which is something we may want to bring to other locations. It’s costly, but very fresh and exciting, which motivates us to always think outside the box. We’re also looking at bringing other dining and nightlife concepts to Nashville, like a live magician and a super gourmet sandwich shop – things that have never been done in the Nashville hotel market. It’s our goal to maximize every inch of an asset, as we’ve done time and time again our existing hotels, i.e. Goldfinch coffee shop at The Time New York, Fishbowl at Dream Midtown and Electric Room at Dream Downtown. We’re always looking for ways to activate unused public spaces like the lobby by bringing in DJs, fireplaces, rotating art galleries, radio stations etc.
06 February 2019
9-10- October 2019
29-31 October 2019
20–21 November 2019
Location to be confirmed in due course
25-26 April 2019