Among the noteworthy quotes from stories this week was Blue Flag Capital's Jason Brown talking about where they are investing in luxury assets.
QUOTE OF THE WEEK
“Our understanding, our reading of the body language — and Hyatt is obviously
keeping it close to the vest — is that there is a [asset sale] deal in hand to
be signed, probably to be announced when the [Playa] deal is closed.” – Michael
Bellisario, R.W. Baird Read story
“Our thesis has been since we’ve been doing this and
continues to be ultra-high-end, high-barrier-to-entry markets where we believe
two things are true. One, a lot of hotel stock historically has been in
individual ownership and hasn’t really been touched in a long time and deserves
a lot of love going back into it. Then, the supply-demand dynamics,
particularly where we think the discretionary dollars being invested are going
into these markets that are themselves the demand generators: the Nantuckets,
the Martha’s Vineyards, the Sag Harbors and the Jackson Holes. So that’s where
we’re investing.” – Jason Brown, Blue Flag Capital Read story
“We think this is uniquely a good time to buy and we think a
lot of people aren’t buying right now. We’re looking to get out from the bigger
shadow of some of these other shops and be among the names mentioned of very
serious players.” – Lawrence Margolis, Reade Hotel Capital Read story
“With this expanded universe of wealth, we’re seeing people
that really want connection to community. So, the [branded residential]
amenities become really important. How do we create the right community for
people – this placemaking idea?” – Tina Necrason, Hyatt Hotels Corp. Read story
“Our group of family offices will invest in University
Hotel’s growth, and in most cases, will also serve as the developer. Through
our investment model, universities and hospitals have the opportunity to become
joint venture partners with the developer.” – Aileen Canta, A.F. Canta Read story
“There’s certainly an uptick of investment from Asia into
Australia at the moment. Given our cycle is at its lower end, and we can expect
an upswing in the next three to five years, there is obvious value for those
investors. The savvy investor who has capital is looking at Australia for that
upswing, and they’re getting in now, which can help offset the high-cost
environment that exists in running businesses in Australia at the moment.” –
David Mansfield, The Ascott Ltd. Read
story
“The goal is clear: position the property as a must-visit
experience, not just a place to stay – regardless of its zip code. Through
high-impact strategies like PR events, influencer marketing, and curated
partnerships, luxury hotels can create appropriate demand and justify premium
pricing in non-luxury destinations.” --- hotelAVE Read story