June, 2019 - Hotel developers see opportunity in opportunity zones, but caution the real estate designation is not a “panacea” to make every project pencil, according to members of the Lodging Industry Investment Council.
Talking to Hotel News Now at the LIIC meeting during the 2019 NYU International Hospitality Industry Investment Conference, owners and developers said there is plenty of reason to feel optimistic about how recent tax law changes incentivize development in different areas. LIIC members also shared their thoughts on the biggest outside influences on the hotel industry and their effects.
Jonathan Falik, CEO and Founder of JF Capital Advisors, referenced technology and more specifically the latency of the hospitality industry in keeping up-to-date with the latest trends and developments within this field as factors threatening the economic wellbeing of the sector. AETHOS' New York-based Managing Director Keith Kefgen said "besides black swan events which obviously no one can predict, it is economic policies from the US government and others which have a significant impact on the industry." Continuing, he adds that tariffs are the big thing right now […] on border and cross-border business.