One assumption from Q1 that’s no longer true in Q4: I assumed costs would stabilize enough to allow more predictability. That hasn’t happened. Instead of waiting for clarity, we’re designing for volatility… building frameworks that can flex with changing budgets, phasing strategies, and procurement realities without compromising the guest experience.

Whether the biggest changes are happening in demand, capital or execution and one strategy for compensating: Execution. Demand is still there but capital is more selective… and projects are harder to deliver. Entitlements, costs, and timelines are all less predictable. We’re designing with fewer assumptions – simpler moves, more flexible systems, and solutions that can survive value engineering without losing the core idea.

How concerns about macroeconomics and geopolitics have evolved since January: They’re background noise now, and that’s the real danger. People normalize volatility… to counter this, we are building projects that can absorb shocks without losing identity. Flexibility isn’t neutrality – it’s designing with enough clarity that the core idea survives anything.

One overlooked risk in the design process: Design dilution during execution. It’s the quiet killer of value. Projects start strong, then get compromised through cost cutting and misalignment. The result isn’t just aesthetic… it directly impacts rate, positioning, and long-term performance. Protecting the idea through delivery is now a strategic priority.

One overhyped and one underestimated trend: Overhyped: AI-generated everything. Fast doesn’t mean meaningful. Underestimated: authorship. In a sea of sameness, clients will pay for a point of view that actually cuts through. The future isn’t more content, but more conviction.