Noteworthy quotes from the week's past stories, including Blackstone's James
Seppala talking about his company's acquisition of Village Hotels in the U.K.
“We see great potential in lodging and leisure as a sector,
especially where we can support strongly positioned businesses that deliver
exceptional experiences to their customers. We look forward to partnering with
Village Hotels’ seasoned management team and support them as it embarks on its
next stage of growth.” – James Seppala, Blackstone Read story
“I prefer this new brand as it has less limitations [than
Grand Hyatt] and we can input our ideas rather than just follow a set of criteria.
What we wanted to create might not have been possible as a Grand Hyatt.” – Narit
Chia-Apar, Chartered Square Read story
“Aimbridge is pursuing legal action against a former
employee, who launched a management company after gaining access to a
significant amount of competitively sensitive information from the company and
using it to interfere with management agreements and owner relationships. We
are deeply disappointed that a trusted individual would go to such lengths to
harm the company to create great personal benefit for himself and his new
entity. We initiated the lawsuit to protect our company and our stakeholder
groups, including our associates, who are impacted by this breach of trust.” –
Aimbridge Hospitality spokesperson Read
story
“The [hotel] supply will be absolutely insufficient to
fulfill the demand... If the city council has the [means to] enforce this ban,
I doubt they do, this move will significantly hurt the main source of revenue
of the city.” – Ivar Yuste, PHG Hotels and Resorts Read story
“They’re more concerned about rising interest rates and
other rising costs. So it seems like our business has slowed because fewer
acquisitions are going on, and we’re seeing more frequently that buyers will
back out or change their minds.” – Laurie Ivy, PMC Commercial Trust Read story
“I think we’re at the very front end of [lender-forced
sales], and we’ll continue to see that increase through the coming year.” –
Mark Owens, Colliers Read story
“Today marks another important step in our partnership with
AccorInvest. The agreement will contribute to Covivio’s development in the
hotel sector and give us the opportunity to draw on the full range of our real
estate and hotel expertise. By repositioning a large part of the portfolio, we
intend to strengthen our ability to act directly on its performance, thereby
leveraging significant growth potential.” – Tugdual Millet, Covivio Read story
“We are pleased to expand our portfolio with the acquisition
of the newly constructed, custom Embassy Suites Madison Downtown and increase
our presence within the dynamic and business-friendly Madison market.” – Nelson
Knight, Apple Hospitality Read story
“We are excited to partner with Ennismore as we enter the
next phase of our growth and our mission to continue to disrupt the hospitality
industry. Ennismore’s entrepreneurial approach and global footprint, combined
with their extensive operational expertise, make them the ideal partner for Our
Habitas to continue its trajectory as a global leader in experiential
hospitality.” – Oliver Ripley and Maurice Salem, Our Habitas Read story
“Nine out of 10 hospitality businesses employ fewer than 10
people. While larger companies are starting to think about ESG, the real
question is how do we effectively engage the [small and mid-sized enterprises]
in this transition.” – Ufi Ibrahim, Energy & Environment Alliance Read story
“We are focused on opportunities where we can do value add.
We will never really stop buying Japan [hotels] just because there are always
older hotels that require capex.” – Shirley Gu, Blackstone Read story