Three developments sharpen the interview agenda:
- Revenue growth still needs a profit test. HVS’s October 9, 2026 conference synopsis describes stronger revenue performance alongside pressure from operating costs, debt and maturities. Treat that as an industry discussion point, not evidence that a particular boutique hotel is improving. (hvs.com)
- Financial-reporting changes require reconciliation. HFTP identifies January 1, 2026 as the effective date of the USALI 12th Revised Edition. Its changes include additional labor and brand/operator-cost reporting. Ask how historical accounts have been mapped before accepting year-over-year comparisons. (hftp.org)
- Old insurance assumptions can mislead in either direction. Gallagher’s Spring 2026 report describes a softer property-insurance environment, while emphasizing that relief depends on geography, asset class, program structure and loss history. A buyer should investigate the actual placement rather than extrapolate earlier premium inflation. (ajg.com)