1 HM: Looking into your crystal ball, and with everything you’ve seen in 2013, how will the hotel industry fare in 2014 in terms of overall operating metrics and profits?
MI: The hotel industry saw some growth this year and we feel optimistic about 2014. There have been many changes across the sector, and these will likely have a positive impact on business. Overall, we predict that modest growth will continue and certain geographic locations in particular will see an extra peak.
2 HM: Most pundits are predicting healthy growth for the industry over the next three years, but what out there (government or otherwise) has the possibility to upset this optimism?
MI: Over the years the industry has seen promising increases in profits, guest retention and overall growth. However, it is important to remain aware of external factors that hinder growth including, but not limited to, increased federal taxes on businesses. It’s imperative for hoteliers to stay informed and engaged in industry news, regulations and trends for short and long-term success.
3 HM: They say all business is local. What is happening within your region that is affecting your business the most? What micro concerns do you have?
MI: We have offices in Georgia, Los Angeles and Toronto, Canada—this reach is essential as we work closely with so many brands across North America and also operate on a global scale. The need for sustainable renovation options, cost-efficiency and on-site refinishing has no geographical limits; therefore, we serve our customers regardless of location.
4 HM: Developing new markets is always top of mind. In 2014, and beyond, where are you concentrating on for growth and expansion?
MI: With a renewed California Multiple Award Schedule (CMAS), contract number 4-13-03-0324B, and Federal General Service Administration (GSA) schedule, we hope to implement more services throughout university and government sectors in 2014.
5 HM: Technology and social media play major roles in the hospitality industry today. What is your company doing on those fronts to stay ahead of the curve?
MI: Every business must find the most appropriate and beneficial social outlet for itself. We established a strong presence on LinkedIn, Facebook and Twitter, and have found that these platforms complement our traditional methods of communicating and driving new business.