From Extraordinary Growth to Existential Risk with Pamela Shamshiri of Studio Shamshiri, Martin Brudnizki of MBDS and Will Cooper of ASH NYC
For the past 5 years, the hospitality sector has been one of the fastest growing in the design industry. In many ways, COVID-19 forced the industry to a halt. There is good news for the future as the design industry works with the hospitality space to adapt moving forward.
Developers and owners are handling this time in a variety of ways. Many have stayed busy forging ahead on current projects and many are using the disruption as a time to buy opportunistically. This time has also provided an opportunity for many properties to clean and address maintenance needs that are usually challenging when guests are on site.
The industry is taking an adaptive outlook overall using the changes forced by Covid to re-think design and reapproach the customer experience for the new world that will follow. This includes a shift in focus to outdoor spaces and experiences, as well as cleanliness of spaces and self-care for guests.
Our panel shared that banks are expressing interest in financing hospitality projects. In places like Europe, many hotels are already back to operating at occupancies that are almost to pre-pandemic levels and overall the expectation is that the hospitality market will be back. While COVID presented challenges, the hospitality space is moving forward with a positive tone.
Watch the full discussion by clicking below.