Over 250 leaders of the hospitality industry attended the first annual NYC Hotel Forum at the McGraw-Hill Conference Center on October 22.
The keynote addresses were delivered by Richard M. Born, Co-Founder and Owner of BD Hotels; Stephen Brandman, Co-Owner of 3PB Hotels, LLC; and Michael Overington, Vice President and Partner of Ian Schrager Company.
In the opening keynote address, Richard M. Born shared his insights on success and challenges in the hospitality industry. Mr. Born explained that food and beverage is not a key source of revenue: “We view the food and beverage as gravy,” he noted. “The biggest challenge we are facing is finding product—and not at exorbitant prices.”
Brandman said: “You have to find the thing that makes you special. 60 Thompson was the first hotel after the Peninsula to have a hotel bar…. You don’t have to burn bright, you have to burn long,” emphasizing that this is a key factor that few hotels are capable of accomplishing. Attendees were able to take away remarkable advice and insight from these top players of the hotel industry, gain a better understanding of financing hotel development and explore the future opportunities and challenges facing hospitality in the coming year.