John Q. Hammons' Legacy To Developers
What can hotel developers learn from John Q. Hammons, a master of the industry who personally developed more than 200 hotel projects? What were the keys to his success and what changes in the project development structure could help other companies follow Hammons example? For decades John Q’s strategy has been to concentrate on emerging, second-tier locations that offer opportunities for the developer to carve out protected market niches. Showing courage and extraordinary vision he consistently opened new markets just at the right time and with just the right product. With impressive but not exaggerated medium-size properties, amply dimensioned to handle current and calculated future demand, he would dominate those markets for years leaving no viable opportunity for potential competitors who knew they would be dividing a limited market. These market niche projects offer the potential for higher than average returns, are somewhat protected in lean economic times and enjoy strong community support.