BLLA: What are you hoping to get out of your participation in the Boutique Hotel Investment Conference?
JP: Meeting and networking with innovators who are not afraid to buck the prevailing wisdom and take risks.
Engaging with the hospitality industry innovators and sharing more of the market-leading solutions from Pace.
BLLA: How did you come to enter the hospitality industry?
JP: Pace Revenue was founded by a team of entrepreneurs, technologists, and data scientists with a passion for building automated decision intelligence systems. From its founding, it was clear that the hospitality industry was a perfect match for Pace with its massive scale, unmet need, and engaged revenue management teams. Now with over 1,200 active hotels on the Pace Platform, this successful industry partnership is a revolution in progress.
BLLA: What does boutique mean to you?
JP: Hotel operators and owners who are looking to be innovative and who realize that the traditionally fragmented brand world leads to a lack of innovation due to competing definitions of success between multiple financial stakeholders.
Hoteliers who have made distinctive decisions with their brands; hoteliers who stand out from the crowd of mundane grey boxes with beds. Hoteliers who have innovation at the heart of their DNA.
BLLA: What are the top three trends that you see in the boutique hotel investment space?
- Forget millennials, a forward-looking hotel needs to think about how to cater to Gen Z, meaning more authentic and unique experiences.
- Using a building for multiple purposes (combining hostels/student housing with standard hotel rooms) along with F&B offerings that attract locals.
- Authentic sustainability and loyalty that doesn’t involve points.
BLLA: What is the mission statement of your company?
JP: The Pace Commercial Operating System: Pace Revenue is on a mission to transform commercial decision-making in the hospitality industry with a modern platform designed for optimal autonomous decision giving innovative hospitality operators insight and intelligence.
BLLA: Why do you believe boutique hotels are a good investment?
JP: The brands are saturated. Even branded hotels are trying to be “independent” but ultimately the weight of legacy systems and processes along with stakeholder complexity means that they can’t be truly innovative or agile. Boutique hotels require more work to be successful, but they give an owner more flexibility to adapt to changes in conditions.
The official organization for the world's boutique lifestyle hospitality leaders promoting connection, education, and advocacy. As a pioneer in forecasting the boutique movement, BLLA's boutique community currently extends to more than 10,000 verified boutique and lifestyle hotels. The BLLA Corporate Manifesto video. BLLA is a catalyst for trends and the future of the boutique lifestyle, exactly what today's traveler is embracing. BLLA.org / Stay-Boutique.com BLLA is also a capital/partner matchmaker via it's Boutique Money Group division.