What changed most since January: demand, capital or execution: Capital, demand and execution have changed, in that order. First, we have responded with broader outreach in our sales efforts. More clients with fewer projects today will create a strong foundation for growth tomorrow. Second, our team supports the effort to prioritize scope and budget by creating an ADD and ALT matrix that keeps priorities easily identifiable. Lastly, we remain engaged through the very last shop drawing and RFI to ensure quality control. Unit costs are very competitive but quality remains an issue.

Where hotel design teams are most vulnerable on the business side: Teams are financially vulnerable. The contract and its liabilities have not changed, but the fees needed to support them have. The best way for teams to protect themselves is to understand when a fee is too low to provide the level of service and care required under the contract.

What “playing offense” looks like in today’s market: Be open-minded about operating systems.  Being creative and innovative can certainly help protect your margins.