Secrets of Select Service Success
By Mark Ricketts President & Chief Operating Officer, McNeill Hotel Company | March 15, 2020
Select service properties hold great appeal to hotel investors and operators at the present time. Contributing factors include their reasonable development costs, favorable staffing levels and the ability to fit in well across a broad range of market types and sizes poised against potential operating stream and return on investment.
Also, the major brands are giving developers increasing freedom to stretch the envelope of this property class, whether we are talking about amenities, food and beverage services, physical configuration of rooms and, even, exterior landscaping and features.
This article will discuss factors driving success in select service today and what the future may hold for this increasingly attractive and malleable class of property.
No hotel classification is rigid. Select service properties fit somewhere between the traditional limited service asset class, a room and the bare necessities, and the traditional full service property. Initially, a core distinction between the limited service and select service asset classes has been the addition of a modest food and beverage component, everything from an on-property grab-and-go market or lobby bar to a small restaurant with limited hours and reasonable ambitions.
Certainly, the guest appeal -and resulting prevalence - of increasingly hearty complimentary breakfasts has helped thrust select service into the food and beverage "game."