FUTURA considers hospitality another important economic component in the creation of prosperous neighborhood centers. Thus, the ability to influence communities with a newly build structure, or possible renovation and/or conversion opportunity is enhanced by the creation of suitable single, or dual-branded and/or multi-hotel projects, developed with clear design and investment parameters.
A hotel’s positive impact to a local community depends on the FUTURA’s ability to choose and integrate quality brand names promoting lifestyle options suitable for each of its market areas. It is also critical to choose recognizable brand names driven by a sustainable business model with a proven track record, capable of promoting constant sales. Today, it is also important to integrate a global marketing platform to help drive business efficiencies, while also promoting each of the community’s lifestyle choices and individual capacities as a potential global destination.
FUTURA’s local market knowledge is always expanded on every asset class it develops by obtaining third-party market data, also challenged by ongoing input from top tier management companies to help produce unique destinations. Hotel amenity areas and guestrooms are supported by best in class services that encourage healthy food and beverage choices to help maximize revenues from restaurants and banquet options, as well other potential revenue sources like a spa and/or parking.
This practice allows future for joint-venture partnerships to benefit from very clear competitive advantages, promoting an opportunity to maximize each hotel investment; while accounting for all the direct, indirect, fiscal and induced economic impacts created by each new hotel development.
In some cases, FUTURA has worked with land owners, cities and municipalities to promote tax break incentives, favorable land contracts for possible assistance with financing options, based on impact studies outlining all of the short- and long-term economic benefits generated from all possible hotel development options. Investment programs considering all future federal, state, and local taxes that will be collected from the development and future operations of a new hotel; including all payroll related taxes collected from (i) temporary construction workers, and (ii) full-time hotel employees, (iii) all sales taxes associated with hotel generated revenues and in some cases, (iv) lodging taxes.
Hospitality presents critical development opportunities to promote positive and indirect community impacts propelled by the many jobs and income to be generated by area businesses that would supply goods and services to a new hotel; including, but not limited to suppliers of rooms related goods (i.e. housekeeping supplies, room and common area amenities), telecommunication vendors (i.e. internet and cable), utility companies, food and beverage suppliers, and many other hotel related vendors.