Design Conversation for New Era of Travel In Caribbean & LATAM
Short-Term Challenges & Long-Term Solutions
OBMI was delighted to sponsor and attend the 2021 Caribbean Hotel & Resort Investment Summit (CHRIS) on August 30 and 31. CHRIS is the leading and most noteworthy hotel investment for the Caribbean, bringing together more than 200 individuals with varied expertise within the hospitality industry.
Our firm was represented by Eric Ullmann and Giovanni Medina as panelists, sparking provoking conversations and reviewing insights with other industry leaders.
Segments & Brands: Luxury Hotels & Resorts
Rich Cortese, SVP of Development and Operations, Caribbean at Aimbridge Hospitality, Dale Hipsh, Senior Vice President of Hotel at Hard Rock International, and Senior Lead Designer at OBMI, Giovanni Medina, who are leaders in the hospitality industry, brought their distinct expertise to a discussion surrounding luxury hotels and resorts at CHRIS. The conversation allowed for each panelist to share their thoughts on a variety of questions presented by moderator Rosie Nicholls, Head of Valuations & Director at BCQS.
To kick off the discussion, the first question was clear, “what defines a luxury hotel?” Although the panelists had the same understanding and the segment was not impacted heavily through COVID, it was evident that what differentiates the luxury segment from core brands varied per expertise. From a development and operational standpoint, it’s the price point, and beyond that, what amenities, services, and design aspects can justify the price, whereas for a designer, the storyline, site-density, experience, and connection to the community uphold the luxury standard.
As the sector continues to evolve, the experts anticipate luxury brands start to move into branded residences to better align with the longer-term vacations guests have begun taking as a result of remote work and school. As for upscale resorts, it is expected that the sector will start to include more wellness aspects, integrate all-inclusive approaches, and prefabricated structures, such as moveable hotels, that allow for easy set up and breakdown.
Ownership: The 3 Rs (Renovating, Repositioning, Rebranding)
Repositioning has been a consistent topic of conversation in the hospitality industry as a way to mitigate risk, decrease the impact to the environment, and add value to a property. Mauricio Elizondo, Corporate Director of Development at Grupo Posadas lead the conversation about renovating, repositioning, and rebranding between Louis Alicea, Senior Director of Development at Wyndham Hotels & Resorts, Jeff Beiter, President and Chief Executive Officer, Capstone Distributor at E-Finity, Camilo Bolanos, Vice President, Development Americas at Hyatt Hotels Corporation, and OBMI Principal, Eric Ullmann at CHRIS.
Due to the advantages of renovating, there is higher potential for brands to invest and attach their names to a restoration project. As the demand rises for these projects, brand teams realize the non-negotiables required for developers to receive prefunding for their renovations –
- Come prepared to justify the financial benefits.
- Operations must continue running at some capacity.
- Choose inspiring locations that will allow the brand to see the vision.
- PIP
Brands are known for their strict brand standards and long-term contracts. However, it is now more common to see developers offer more flexibility in the design and contractual agreements. This has given architects and designers more freedom, leading to the introduction of more unique concepts in the hospitality sector.
As leisure-led travel continues to rise to pre-pandemic rates, it is apparent that amenities should be prioritized. OBMI Principal, Eric Ullmann, explains that food & beverage and wellness have become more important aspects in the hospitality experience. It is the designer’s job to cultivate a design that allows for flexibility in these spaces, while also integrating new ideas and open concepts.
