Some of our best quotes of the week, including an insightful
comment from JLL about how U.S. performance will soon be impacted by inbound
international traffic.
QUOTE OF THE WEEK
“The decline in Chinese arrivals to U.S. urban markets, which historically
accounted for the largest share of foreign visitor spending, has been
significant with flight capacity issues and geopolitical tensions slowing their
return. Despite this, we expect to see a gradual increase in the number of
Chinese visitors and an additional boost from emerging markets like India to
accelerate the recovery of international arrivals to U.S. urban markets.” –
Ophelia Makis, JLL Read story
“Invest in the infrastructure of your facility and do it
well. Picture your work with the partners and market, be it your energy
suppliers or your HVAC vendors, and get them to give you advice on how to get
the very best out of your systems. And do it now – look at what you need to do
before it comes around.” – Michael Hoffman, Arizona Biltmore Read story
“The velocity of our conversion openings has been so quick
that some conversion hotels never appeared in our quarterly pipeline numbers.
This momentum we see in conversion activity gives us further confidence in the
prospects for our continued growth in 2023 and beyond.” – Patrick Pacious,
Choice Hotels International Read story
“Conversions represent a major growth opportunity for us,
generating around 40% of first half openings and signings globally, and we see
an increasing desire from owners to quickly realize the benefits of IHG’s scale
and strong enterprise.” – Elie Maalouf, IHG Hotels & Resort Read story
“Be thinking ahead to minimize the risk of displacement of
revenue by allowing a slightly longer warehouse schedule so that items can
arrive before they are needed, and do not liquidate the old items until the new
items are received and are correct.” – Alan Benjamin, Benjamin West, on CapEx
project planning Read story
“You also have to balance your rate differentials to
maximize the performance of both properties... Sometimes it's an art.” – Jerome
Cataldo, Hostmark Hospitality Group, on managing dual-branded properties Read story
“The model also mitigates the risks associated with
over-reliance on a single market segment. When one segment experiences a
downturn, the business can focus on other segments that are performing better.
This adaptability ensures a more stable income stream and reduces vulnerability
to economic volatility.” – Kevin Goh, The Ascott, on their new
hotel-in-residence model Read story