TLC notebook, Part 2: BWH update; new Stonebridge CEO; Hyatt’s Dan Hansen

PHOENIX – Following up on yesterday’s Lodging Conference notebook, here are more reports from one-on-one interviews with top executives discussing growth challenges and opportunities.

BWH Hotels. With 18 brands today and an increasing global presence, Best Western is very different than it was 15 years ago.

CEO Larry Cuculic said BWH is having its strong development year internationally (150 deals) since before the pandemic.

Globally, for 2025, he said the pipeline remains strong with BWH getting more aggressive with flexibility on key money (10 to 15 such deals this year) and fee structures.

Europe is seeing more conversions with more independents seeking out brands with Cuculic adding that revenue in 2024 is up 17% there.

Middle East and Africa is seeing 80% new construction and projects are bigger than elsewhere with Cuculic highlighting a 955-room WorldHotels property in Saudi Arabia.

U.S. development this year has surpassed 2023, again with conversions leading the way.

WorldHotels now has 160 properties and signed between 25 and 30 this year, according to brand President Ron Pohl, who is also president of international operations. WorldHotels added 10 in North America to reach 32 with three more on the way this year.

WorldHotels is also getting into the residential game with two residence-only projects (5,550 units) in Vietnam.

BWH boutique brand Aiden recently opened in Long Island, New York, which is one of many to come in the New York City area. The brand is up to 50 properties (half are open) in North America and has another 25 in Scandinavia. In total, Aiden has 130 properties open and in the pipeline.

Cuculic added the BWH needs to better tell its story as it is indexing above its comp set in North America, driven primarily by rate.

The company continues to look at all processes to control costs with Cuculic citing negotiated prices on necessary items at breakfast.

Stonebridge Companies. New CEO Rob Smith (formerly Aimbridge) said an investment vehicle launched in 2022 continues to help the third-party business grow.

Today, Stonebridge has some 160 properties under management (equity in 18 and own five) and Smith said two small, regional company acquisition deals are pretty far down the road. It bought Real Hospitality Group in May 2024, which more or less doubled the size of the third-party business and grew their geographic presence to 25 states from 12.

Smith said 11 properties are in the Stonebridge pipeline, including five acquired from Ashford Hospitality Trust. Among them is the W Atlanta, acquired for $24.8 million and being converted to a JW Marriott.

Ongoing, Smith said Stonebridge wants to realize organic growth of 10 to 12 properties per year.

Smith boasted that Stonebridge is increasing same store revenue at a 7.4% average, compared to a 2.5% overall national average. He credited focused teams with low capacity and increased engagement with ownership.

Hyatt Hotels Corp. Dan Hansen, head of Americas development said the company is relaunching Caption by Hyatt with a more efficient model (especially F&B), flexible design, and reduced labor requirements. Three are open, including Shanghai and Osaka, and seven are in the pipeline.

Caption is all new build in the U.S. but Hansen said it can be a conversion concept in urban centers.

For its newly formed lifestyle division led by Amar Lalvani, formerly of Standard International, greater penetration is Europe is among the priorities. He added that several Thompson hotels are coming to Italy and Spain.

There are 450 Hyatt Places (also being redefined for greater profitability) and 135 Hyatt Houses with one-third of their pipelines in the Americas.

Hyatt Studio is growing exponentially with deals executed for 4,000 rooms and four properties having broken ground.

Brittain Resorts & Hotels. The Myrtle Beach, South Carolina-based operator made news at the conference, assuming management for eight hotels in Florida by partnering with Provident Hotels & Resorts. It marks Brittain’s first move outside South Carolina.

Chief Development Officer Brittney Jones said the group will keep looking for more opportunities in Florida and also has deals pending in Pigeon Forge and Gatlinburg, Tennessee.

Jones said the Brittain, today with some 30 properties under management, can manage complex assets, including resorts and condo hotels, and its in-house marketing team drives 80% to 85% of room nights.

Resolute Road Hospitality. The Boise, Idaho-based management company with 25 hotels under management today expects to add another 10 in 2025. For what it calls “controlled growth,” the group like premium-select properties in the Sunbelt, Nashville and Mountain West regions.