Quotes of the Week: Accor, Remington, Hyatt, Noble, many more

QUOTE OF THE WEEK
“We’ve been trying to shy away from net unit growth. Why? Because net unit growth is not the translation of value. It is just the easy way for somebody [to show growth], If you just look at our numbers last year, the number of signings was flat in numbers, but the value in fees that would be generated in the future from what was signed was up and that’s what we try to provide — value generated… I think it’s going to take some time before people get there.” – Jean-Jacques Morin, Accor   Read story

“It’s a broken machine [large, third-party management acquisitions] with only 10% are hitting proformas. I call it buyer’s folly.” – Sloan Dean, Remington Hospitality   Read story

“This unique asset [Hôtel Saint-James & Albany in Paris] has been selected as the flagship of our exceptional partnership with Mohari, which has created an unparalleled, united team of visionaries, pushing the boundaries of design, guest experience and sustainable technology.” – David Zisser, Omnam Investment Group   Read story

“As [interest] rates moderate in 2025, that pendulum will swing back in favor of the brands, who have been very reasonable [on PIPs].” – Greg Juceam, Extended Stay America   Read story

“We are excited about the collaboration between Hyatt and CR Land, as it represents a significant advancement in our dedication to the Chinese market. Our growth is built on strong alliances with like-minded businesses, and CR Land’s local expertise perfectly aligns with our vision.” – David Udell, Hyatt Hotels Corp.   Read story

“Investors have consistently shown an appetite to play larger in the hotel sector in Asia Pacific and we see no signs that activity will wane in the last quarter of 2024, making us increase our investment volume forecast to $12.2 billion.” – Nihat Ercan, JLL Hotels & Hospitality Group   Read story

“I actually am very, very enthusiastic about the post-election cycle where we now have that in the rearview mirror and we can now go back to thinking about growth and the continued evolution of our economy, and what that can mean for all of us.” – Mit Shah, Noble Investment Group   Watch video

“With a market the size of the U.S., there is a wide variety of performance, even within a single market. But one thing is for sure: the focus on efficiency and profit conversion will be vital in ensuring the profit margin is protected.” – Michael Grove, HotStats   Read story

“There are markets across the U.S. in both major and secondary cities, especially with a lag in new supply, that are going to show some good fundamentals going forward. The Pacific Northwest is another area where some developers are starting to see pockets of opportunity.” – Paul Sacco, PM Hotel Group   Read story

“We continue to see incredible opportunity in India, which is why we're focusing our strategic efforts on introducing more of our diverse brands to the country. Microtel is an ideal example of a brand that can be purpose-built for the market and with the continued collaboration with trusted partners like Nile Hospitality, we can quickly scale to meet growing demand.” – Dimitris Manikis, Wyndham Hotels & Resorts   Read story

“We’ve been strengthening the brand since I arrived so that we can grow it, either by investing in [new-builds], acquiring existing hotels and rebranding them to Saii, or through HMAs.” – Michael David Marshall, S Hotels & Resorts   Read story