They're not gone for good, but they've been replaced by select-service hotels as the sector darling, according to FelCor Lodging Trust chairman Tom Corcoran (cracking up at Gatehouse Capital CEO Marty Collins at Bisnow's DFW Hospitality Summit this week). Tom says the full-service model was born in the ‘50s (joining other dying art forms, like the TV sitcom and rock and roll) with restaurants and bars at the local Holiday Inn in small-town America. That model worked through the ‘70s, but as restaurant competition heated, people started going to hotels just for the rooms. Margins are better, too, for select- and limited-service hotels, he says.
DALLAS: Goodbye to Full-Service Hotels?
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Related Topics:
FelCor Lodging Trust
, Gatehouse Capital CEO Marty Collins
, Holiday Inn
, Tom Corcoran
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