Reinvention rules in today’s hospitality market
The hotel industry is in a fascinating phase of transformation—one where reinvention often takes precedence over brand-new builds. For meeting and event planners, this means the newest experiences on offer may come from familiar properties that have undergone thoughtful updates designed to meet modern needs.
As Jan Freitag, a leading market analyst in the hospitality industry, explains, economic conditions are driving this trend. “The hotel industry is in an interesting state right now because construction loans are so expensive. They limited new supply,” Freitag says. “Supply percent change that we’re projecting for 2025 is 0.8%. It compares to the long-run average of 1.7%. So just at a unit level, outside of the top of the markets, we’re not seeing a lot of new hotels opening.”
This slowdown in new supply isn’t necessarily bad news. In fact, it opens the door for existing properties to step into the spotlight. Freitag notes, “What that means then is that there are unique opportunities for existing motels or hotels to reinvent themselves and become the ‘new kid on the block’ because there’s not a lot of actual new supply.” For planners, this translates to fresh and appealing options that combine the reliability of an established property with the energy of a new build.
And yet, even with these headwinds, new hotel builds are still making their mark. Freitag points out that while the overall pace of new construction has slowed, ambitious projects in select destinations continue to break ground. These properties often arise in markets with strong demand drivers or as part of larger mixed-use developments where hotels play a key role in the overall vision. For planners, this means that alongside reimagined classics, there are also fresh-from-the-ground-up options offering state-of-the-art design, brand-new infrastructure and innovative event spaces tailored to modern expectations.
A Pandemic Pause, Then a Push for Upgrades
Part of the current renovation wave stems from a backlog created during the pandemic. Many properties had little choice but to redirect funds earmarked for upgrades toward basic survival. “In the 2020 pandemic, the Reserve for Replacement funds were allowed by the bankers to be used to pay interest,” Freitag says. “So, when we came out of the pandemic in 2021, there was no money left to renovate anything.”
That situation, thankfully, has begun to improve. Owners now recognize that thoughtful updates are key to staying competitive, especially in an environment where supply is tight and planners are seeking memorable, well-designed spaces.
What’s Getting the Most Attention?
Today’s renovations aren’t just about new carpet or fresh paint. Owners are rethinking how their spaces function and how they can generate additional revenue. Freitag points to the popularity of newer limited-service brands as inspiration. “I think a lot of owners are seeing the appeal of brands like Moxy or AC Hotels, where the service is not so much on the room but on the social spaces and the food and beverage spaces in the property.”
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One standout trend: rooftop bars. “Rooftop bars are really on the forefront now and are coming into their own,” Freitag says. “A lot of owners are leaning into that. That’s, of course, often a little easier done in an existing hotel, but nonetheless it’s certainly possible. Depending on your elevator and your bathroom situation, if you can add a rooftop bar, that really helps with activating a space that was not revenue-producing before.”
This focus on social spaces extends to ground-level areas as well. Lobbies once seen purely as places to pass through are being transformed into vibrant hubs. “Social spaces are really important, so rejiggering the lobby is also very important,” Freitag explains. “Making the lobby more welcoming, maybe adding a bar, maybe adding coffee shops, has really gotten a lot of owners attracted to that sort of renovation because it creates monetizing opportunities for space that was traditionally just a place where you’re brought from A to B, from the door to the front desk. Now it’s a place where you want to linger.”
Planner Takeaways
For meeting and event professionals, these trends offer both challenges and opportunities. While the scarcity of new builds means fewer fresh-from-the-ground-up options, the surge in renovations means planners can often find properties that feel brand new—just with the added bonus of a proven operations team behind them.
Many of these reimagined hotels are focusing on what matters most to groups: flexible spaces that foster connection, tech upgrades that support seamless events and food and beverage offerings that are anything but standard. Rooftop bars and terraces are becoming sought-after venues for cocktail receptions or after-hours networking, while revamped lobbies double as casual breakout spaces.
New and Reimagined Standouts
Despite the challenges, new and renovated properties are catching the eye of many meeting profs, such as Kindred Resort in Colorado, Keystone’s first major development in 20 years. The 107-room resort features three on-site restaurants, plus apres-ski provisions. Named among the “50 Best New Luxury Hotels” by Robb Report, Kindred and its over 6,000 sq. ft. of meeting space are available for booking now, with the resort opening later this year.
The new Hilton Arlington Rosslyn The Key, with a 36th-floor, 6,000-square-foot rooftop venue, is located roughly one mile from Georgetown, Virginia. The hotel is part of The Key, a 1.3-million-square-foot mixed-use development and offers 28,000 sq. ft. of meeting space, 14 meeting rooms, a 24-hour fitness center and a business center.
W Austin in Texas underwent a major renovation that covered the lobby, guest rooms, F&B outlets and meeting spaces. It’s Penthouse I is now Austin’s largest suite at 1,798 sq. ft., and 12,000 sq. ft. of reimagined meeting space includes the new PNC Hall, a loft-like venue connected to ACL Live—a great option for VIP and hybrid events.
Gaylord Pacific Resort & Convention Center, the newest Gaylord property, is now open in Chula Vista, California—just seven miles from downtown San Diego. This massive resort is spread across 275,000 sq. ft. on 500 acres and features a 22-story, 1,600-room hotel alongside a 477,000 sq. ft. convention center. A water park, grand glass atrium, lush landscaping and open-air plazas provide guests with plenty to take in.
Caesars Republic Lake Tahoe Hotel & Casino (formerly Harveys Lake Tahoe) underwent a $160 million renovation and rebranding and will reopen this month. The resort spans 1.6 million sq. ft. and includes two guest towers, a casino, a number of entertainment options and dining options such as Gordon Ramsay’s Hell’s Kitchen. Planners can now book the 25,000 sq. ft. of available meeting space across 19 rooms within Caesars Republic—plus another 25,000 sq. ft. at the adjacent Harrah’s Lake Tahoe, accessible via tunnel.
Pendry Natirar in Somerset County, New Jersey, is located about an hour from New York City within the historic Natirar estate, a sprawling 491-acre property originally built between 1905 and 1912 and later owned by the King of Morocco. Officially opened in October of last year, the resort combines the Tudor-style mansion with newly constructed wings. Over 20,000 sq. ft. of meeting space, including the restored mansion, Grand Ballroom, breakout room and outdoor lawns, is available.
La Bahia Hotel & Spa is nestled along Main Beach beside California’s iconic Santa Cruz Boardwalk. A revival of a historic site originally built in 1926, the property is being reborn as a 155-room, 225,000-square-foot luxury hotel and spa, opening later this summer. With 10,400 sq. ft. of meeting space across five rooms, the hotel is poised to become a top event venue in the area.
OKANA Resort & Indoor Waterpark in Oklahoma City opened in February following a $400 million build that includes 404 guest rooms, a 100,000-square-foot indoor waterpark and a 4.5-acre outdoor lagoon. Guests choose from over 13 food and beverage venues, and 27,000 sq. ft. of meeting space awaits planners.
Looking Ahead
Freitag’s data suggests that the current low-growth environment for hotel supply will likely continue in the near term. That means the focus on upgrading and reimagining existing properties isn’t just a passing phase—it’s the industry’s best response to the realities of today’s financial landscape. And for planners, it means keeping an eye out not just for new openings but for well-executed transformations that deliver the wow factor attendees expect.
“Renovations are very important to the current owners,” Freitag sums up. “And they’re thinking not just about aesthetics but about how to create spaces that people want to experience—not just walk through.”
International Star Mentions
Austria’s Anantara Palais Hansen Vienna is housed in the UNESCO-protected Palais Hansen, originally built for the 1873 World’s Fair. Following an 18-month comprehensive renovation, all 152 rooms and suites feature triple-glazed ceilings, oversized windows and marble baths—alongside Vienna’s largest ballroom, which hosts up to 265 guests. An executive boardroom, private library and eight additional meeting rooms are also available for stellar events.
The Dominican Republic’s The St. Regis Cap Cana Resort is the brand’s first location in the country, with all 200 guest rooms offering sweeping ocean views and contemporary finishes. The resort features nine distinct dining experiences, four pools, a spa and more than 7,000 sq. ft. of meeting space.
Australia’s 1 Hotel Melbourne, slated to open this summer, has the city buzzing with its central location on the Yarra River. The hotel features 277 guest rooms, biophilic interiors, a Bamford wellness spa and over 29,000 sq. ft. of meeting space, including the 900-person-capacity Seafarers Ballroom.
Read More: Notes from the Road: Melbourne
This article appears in the July 2025 issue. Subscribe to the magazine here.
