Quotes of the Week: Ad Altius, Blackstone, Noble House

QUOTE OF THE WEEK
“Scarcity is the only moat left. You can always build another tower. You cannot build another clifftop, another centuries-old vineyard, or another shoreline where zoning will never allow a repeat. That’s why family offices and institutions are competing head-on for the same assets. Families lean in for identity and legacy. Institutions lean in because they’ve realized scarcity — not scale — is where returns hide.” – Thomas Brown, Ad Altius   Read story

“The acquisition of this luxury hotel located in one of the most dynamic areas of Miami reflects our strong conviction in travel and hospitality. The Brickell neighborhood is experiencing a rapid transformation with strong employment and population growth, as well as exciting leisure attractions and entertainment events, creating a compelling backdrop for the property.” – Scott Trebilco, Blackstone Real Estate   Read story

“We want to be ready as we’re seeing a lot more opportunities. During COVID, we saw just huge bifurcation in the bid-ask spread. So, we were very selective. We’ve had some equity capital sitting on the sidelines and now that there’s a more realistic ask, we’ll turn around and have more transactions.” – Sean Mullen, Noble House Hotels & Resorts   Read story

“Tens of thousands of Los Angeles voters agreed that the economic toll of the ordinance will extend far beyond the hospitality sector. Today’s decision denies Angelenos the opportunity to voice their opposition to this flawed proposal. It’s clear that the ordinance will jeopardize jobs, push hotels to the brink of closure, severely cut tax revenue the city desperately needs, and leave the city grossly unprepared for the 2028 Olympic Games. The mayor has made a clear commitment to broker a solution that averts these severe consequences. We call on her to proceed quickly.” – Rosanna Maietta, AH&LA   Read story

“Within our portfolio, one of the really encouraging signs we’ve been seeing our teams doing is an amazing job hanging on to rate. There is often a reflexive response to chase occupancy at the expense of rate. Our teams are really working hard to maintain rate even in those chain scales that are challenged from a demand perspective. That’s obviously a great long-term strategy and also goes a long way to helping us preserve margins in that chain scale.” – Anthony Capuano, Marriott International   Read story

“We’re looking to open a ski resort every year or every two years. We have San Sicario in the Italian Alps, and that should be [opening in] December 2028. We’re also [exploring the possibility of] a second resort in Quebec. And there’s something we’re looking at in the U.S. We’re looking at opening our South Africa resort next summer, and that’s going to be our first surf-and-beach safari resort. We also have a second Malaysian resort, which will be in Borneo, on our road map.” – Carolyn Doyon, Club Med   Read story

“Our launch represents more than just another management company. It’s about creating a culture of innovation and accountability that puts owners, associates, and guests at the center of every decision.” – Robert Finvarb, MIA Hospitality Management   Read story

"I’m thrilled to join Yotel at such a pivotal moment in its growth. The pioneering concept and global footprint mean Yotel's global recognition supersedes its size and that, paired with the agility of being independent, creates a unique opportunity to scale quickly and offer owners, investors and franchisees the speed and innovation they crave in the industry.” – Phil Andreopoulos, Yotel    Read story