Quotes of the Week: Access Point Financial, HAMA, Driftwood Capital

QUOTE OF THE WEEK
“I think the economy is very strong and if you take that to the logical conclusion, I don’t see the Fed cutting rates significantly... If we get lucky, we get one or two [cuts], and I’m going to stick with that.” – Michael Lipson, Access Point Financial  Read story

“Budgetary forecasts for both RevPAR and GOP are expected to exceed expectations in virtually every segment, from select-service through resorts, and more than 70% of respondents expect RevPAR to exceed 2019 levels.” – Sarah Gulla, HAMA  Read story

“The addition of this hotel, combined with our two recently launched brand conversions and the completion of our transformative investment later this year at Andaz Miami Beach, will position Sunstone for significant earnings growth as we move into 2025.” – Bryan Giglia, Sunstone Hotel Investors  Read story

“It’s not easy, man. I’m telling you. We underwrite a ton of deals to achieve these deals. We used to get loans with banks for 70% to 75% of loan to value or loan to cost. Today, banks will offer 60% if you’re lucky but more likely 50% to 55%... So, not everything pencils; it is a difficult environment.” – Carlos Rodriguez, Sr., Driftwood Capital  Read story

“Bringing Garner to Europe in such a critical market as Germany is a great moment, as is taking Candlewood Suites outside of the Americas for the first time.” – Elie Maalouf, IHG, on its big deal in Germany with Novum Hospitality  Read story

“Unlike other markets in Asia Pacific, demand for business and city hotels has outpaced other segments in Japan. According to the Japan Tourism Board, international demand for business locations in Japan increased by 20% for February 2024 compared to the same period in 2019. Domestic demand rose by 1%, with international demand up 12%. CBRE expects business hotels to be the top-performing segment in 2024, with leisure hotels expected to maintain modest performance growth this year.” – CBRE market report on Japan  Read story

“We are investing in real estate operating companies in order to gain vertical depth in sectors and geographies where we have strong thematic conviction. Trinity has nearly three decades of experience in the hotel real estate asset class, and that depth of knowledge shines through. We believe Trinity’s value-add approach closely matches our focus on value creation. Through our more integrated relationship, we will build platforms that could unlock attractive returns for our clients.” – Jason Longo, Partners Group  Read story

“We will continue to grow our soft brands as hotels want to maintain their independence. It’s almost that next generation of developer, who want to do it their way and maybe have less constraints placed upon them as to what a successful hotel should look like.” – Larry Cuculic, BWH Hotels  Ready story

“We already have an online and offline network for the sale of real estate development projects. So, the new portal will complete the circle of support to owners and developers by offering a rental service post-completion, or post-handover if we takeover an existing project.” – Michal Zitek, Banyan Group  Read story