Texas & Oklahoma Feature Archive

Nearly two-thirds of potential office renters consider image and “cool factor” when looking at a new space, according to a report from Transwestern Tenant Advisory Services (Transwestern TAS). The report, “Quantifying the Cool Factor in Real Estate,” was compiled based upon quantitative and qualitative responses from the company’s tenant advisors. According to Transwestern TAS, the analysis underscores the importance of intangible variables in real estate decisions. Of the respondents, 63 percent said that in more than half of transactions they facilitate a company’s image is a significant factor in its location decision; 18 percent said image is a significant factor in all transactions. The report found that more and more often, perhaps due to the attention paid to firms like Google, Microsoft and others that have integrated unique features into their workspaces, “cool” is the image clients aspire to project via their space. “We hear regularly from our occupier clients that they want ‘cool’ space,” says Amber Strang, executive managing director of Transwestern TAS. “Our cursory look at this topic aimed to better define the term and measure how big of an influence this variable is in the final decision-making process. What we found is that physical space first and …

ATLANTA – Hotel owners and operators are keeping close tabs on two issues that could have a major impact on the lodging industry. The first issue is efforts by governments at the local, state and national level to raise the minimum wage. The second issue is short-term rental companies like Airbnb that operate without having to pay hotel occupancy taxes. During the recent Hunter Hotel Conference held at the Marriott Marquis in downtown Atlanta, Matthew Maclaren, vice president of member relations for the American Hotel & Lodging Association (AHLA), told hundreds of industry professionals about the need to fight against minimum wage increases and ensure that Airbnb pays hotel taxes. “Advocacy is our primary focus right now,” said Maclaren. “We’re working on the issues that impact your bottom line.” Maclaren said that it’s important for the industry to share its success stories, such as the high number of hotel employees who start at entry-level jobs and go on to become managers or even run their own companies. An important issue for AHLA is efforts aimed at raising the minimum wage. Los Angeles, for example, recently passed an ordinance doubling the minimum wage only for hotels. The city council voted last …