PIPs Returning To Forefront

Property improvement plans and renovations are back en vogue in the hotel industry, panelists said this week at the Hunter Hotel Investment Conference.

As hotel performance continues its rebound, owners are more inclined to invest in properties via renovations, panelists said during a session titled “Renovations … PIPs … Lobbies.”

“I went from seeing two or three PIPs last year to two or three PIPs a month (this year),” said Ken Smith, project executive at Winter Construction Company.

For David Roedel, partner with Roedel Companies, most of the transactions deals he looks at comes with PIPs attached.

Read the full article at hotelnewsnow.com