When looking for real estate investment opportunities, it’s important to look at different industry trends across the country and how those will impact your local economy. One industry that has been growing and shifting over the past few years is hospitality – more specifically hotels. National hotel trends, as well as local statistics, have professionals in the hospitality industry taking note.
Hotel Occupancy Breaks Records
Overall national hotel occupancy is expected to break records in 2019 according to CBRE Hotels America Research. This will be the 10th consecutive year of growth despite industry competition from companies like Airbnb.
Here locally, New Hanover County has seen an increase in tourism spending for the last seven years. Any concerns of Hurricane Florence’s impact on tourism in 2019 has been diminished as early summer numbers look strong.
Rise of the Boutique Hotels
While national occupancy numbers look promising, consumer preferences are shifting away from your “standard” hotel accommodations. Thanks in part to AirBnB, customers no longer want just a clean room and comfortable bed. They are looking for personal touches and experiences. Both large hotel chains and small operators are changing things up in order to compete.
Enter boutique hotels. Boutique hotels usually feature less than 100 rooms with a modern or unique design. They focus on creating experiences and have a more local feel than your traditional hotel. Think historic or interesting buildings. B&B-style services. Attentive staff. Technology and the comforts of home.
Opportunities in Southeastern North Carolina
Southeastern North Carolina presents many opportunities for someone looking to enter or expand their hospitality business. With a strong tourism economy and hotel properties for sale, now is a great time to capitalize on the boutique hotel trend.
In downtown Wilmington, you’ll find a charming, award-winning boutique hotel for sale. With 12 units and historic architectural features, The Front Street Inn is a unique opportunity for a new or experienced hotel operator.
If you are looking for fewer cobblestones and saltier air, The Darlings by the Sea in Kure Beach or The St. Regis Resort in North Topsail Island may be of interest. Both of these properties are in popular tourist areas and offer guests incredible views on the Atlantic Ocean.
If you are interested in any of these properties, contact our team today to set up a showing.