Editorial Board   Guest Author

Ms. Fugitt-Schultz

Julie Fugitt-Schultz

Co-Practice Leader Hotels Specialty Practice Group, Integra Realty Resources

Julie Fugitt-Schultz, CCIM, a seasoned real estate valuation expert with more than two decades of experience, serves as Co-Practice Leader of Integra Realty Resources' Hotels Specialty Practice Group, which offers valuation services for lending, market/feasibility studies, insurance appraisals, and litigation support.

Over the past 36 months, IRR has completed 2,500 hospitality assignments totaling more than $25 billion in asset value, ranging from small, independently owned bed and breakfasts, to major luxury hotel brand portfolios.

In addition to her role as National Co-Practice Leader of IRR's Hotels Specialty Practice Group, Ms. Fugitt-Schultz serves as Director of Hospitality Valuation of the IRR-Memphis/Jackson office. Her experience spans across a broad range of commercial real estate valuation assignments with an emphasis on trophy quality assets and hospitality properties, along with acquisitions experience for institutional quality assets with single asset values ranging from $200 million to over one billion dollars.

Prior to joining IRR, Ms. Fugitt-Schultz served as Vice President of JLL, where she focused on appraisals, market studies, and consulting assignments nationwide.

Notable valuation assignments include The Drake Hotel, an iconic Chicago, Illinois landmark hotel with 535 luxury guest rooms; The Peter Island Resort and Spa, a five-star, luxury resort in British Virgin Islands featuring 55 deluxe beachfront rooms and villas; and the Ritz Carlton Hotel and Residences, a luxury five-star, 13-story resort located on Key Biscayne island in Florida, featuring 450 guest rooms.

Integra Realty Resources (IRR) is the largest independent commercial real estate valuation services firm in North America, covering more than 60 markets with nearly 600 employees throughout the United States, and the Caribbean.

Please visit http://www.irr.com for more information.

Ms. Fugitt-Schultz can be contacted at +1 703-965-1406 or jschultz@irr.com

Coming up in August 2020...

Food & Beverage: New Technological Innovations

In the past few years, hotel food and beverage departments have experienced significant growth. Managers are realizing just how much revenue potential this sector holds, both in terms of additional revenue and as a means to enhance the guest experience. As a result, substantial investments are being made in F&B operations as a way to satisfy hotel guests but also to keep pace with the competition. Though it has been a trend for many years, the Farm-to-Table movement shows no signs of abating. Hotel chains are abandoning corporate restaurants and are instead partnering with local chefs to create locally-influenced dining options. Local, farm-sourced ingredients paired with specialty beverages or local wine also satisfies the increasing demand from Millennial travelers who are eager to travel sustainably and contribute to a positive impact. A farm-to-table F&B program also helps to support the local economy, which builds community goodwill. Also popular are "Self-Serv" and "Grab & Go" options. These concepts stem from an awareness that a guest's time is limited and if a hotel can supply them with fast, fresh, food and beverage choices, then so much the better for them. Plus, by placing these specialty kiosks in areas that might be traditionally under-utilized (the lobby, for instance), they can become popular destination locations. Of course, there are new technological innovations as well. In-room, on-screen menus allow guests to order from any restaurant on the property, and some hotels are partnering with delivery companies that make it possible for guests to order food from any restaurant in the area. Also, many hotels are implementing in-room, voice-activated devices, so ordering food via an AI-powered assistant will soon become mainstream as well. The August issue of the Hotel Business Review will report on these developments and document what some leading hotels are doing to expand this area of their business.