As hospitality consultants, we understand the relationship between private developers and public entities. These public-private partnerships have long been an economic tool in the hospitality industry, but post-recession they have become more commonplace.
Thanks to a rebound of the “Big Three” automakers and emerging technologies boosting the local economy, Detroit has seen steady improvements in hotel occupancy since 2010 and in ADR since 2011.
Due to the energy boom, Houston rebounded from the recession and the proof is in hotel development.
Summary: Economic impact studies demonstrate the economic benefits and desirability of hospitality projects Government entities may provide financial incentives for a project when they are presented with its benefits Economic impact comes from both short term and long term effects Developers planning hospitality projects such as resorts and conference centers are often looking to local