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Crestpoint Companies’ president and CEO Kal Patel shows us what’s on tap for the hospitality development, management and investment firm in 2014 and beyond.

Today in the news

Report: Midscale, upscale brands pushing hotel supply growth
posted on Aug 22 14

Pipeline data released by STR and Lodging Econometrics indicate that hotel expansion is in full swing, with more than 110,000 rooms being built. Development focus has shifted to midscale and upscale hotel brands amid low revenue gains in the economy sector. Hoteliers are also angling to capture more demand from the millennial segment and are designing newbuilds with amenities that cater to their needs, such as gym space, Wi-Fi availability and grab-and-go dining outlets. Read the Skift story here

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Nordstrom eyes slow, but steady growth plan in Canada
posted on Aug 22 14

Nordstrom will open its first store in Canada next month, after more than two years of planning. The retailer is taking a measured approach to growth plans in the country, with plans to tweak things as it goes in response to its Canadian customers. Read The Globe and Mail story here

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Hotels can expect strong demand to pace rest of 2014
posted on Aug 21 14

Hotels can expect strong demand and occupancy rates throughout the rest of the year, according to reports from recent the Hotel Data Conference. STR is revising its demand forecast from 2.6 percent to 3.6 percent change and is expecting supply to go from 1.2 percent change to 1 percent change. Read the Hotel Management online story here

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$959B in commercial energy-efficiency retrofits seen over next decade
posted on Aug 21 14

Navigant Research estimates commercial building owners worldwide will spend $959 billion to improve energy efficiency between now and 2023. Government mandates will drive some of that spending, Navigant says, but notes that much of the work will be voluntary. Read GlobeSt.com story here

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Sprouts to open seven new stores in early 2015
posted on Aug 20 14

Sprouts Farmers Market, one of the fastest-growing retailers in the country, plans to open its first store in Alabama in early 2015, as well as add six additional locations to its growing roster of fresh, natural and organic grocery stores. The new Sprouts stores will open in: Bakersfield, Calif., Birmingham, Ala., Cumming, Ga., Daly City, Calif., Liberty, Mo., Scottsdale, Ariz., and South Jordan, Utah. Each of these stores will bring an estimated 100 jobs to the communities in which they are opening. Store addresses, grand opening dates and other details will be shared later this year.

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