Noteworthy quotes from top stories of the past week include Certares' Nolan Hecht about current acquisition dynamics.
QUOTE OF THE WEEK
“Our viewpoint on the hotel market is that this is probably
the most favorable supply-demand dynamics we’ve had in the last couple of
decades. New supply is under 1%, probably for the next 36 to 48 months, and
demand is staying super strong. That’s a catalyst for opportunities.” – Nolan Hecht,
Certares Read story
“We see a little different success model through use of human capital and by activation [of the lobby or F&B]… I don’t have to be a lifestyle hotel to give a guest a good, memorable experience with a memorable front desk agent or a little something at turndown… Give them an experience that is a memory, and that doesn’t matter if it’s a boutique or limited-service hotel. It’s just a fresh approach to how we’re going to create the guest experience.” – Paul Coury, Coury Holdings Read story
“Adding such an iconic Mayfair destination to our growing portfolio is also an exciting step forward in our focused expansion into Europe.” – Dan Friedkin, Auberge Resorts Collection Read story
“Recently, we’ve been making a push to expand into new
markets, such as Florida and the Northeast… We continue to grow in a
disciplined and methodical manner, and in geographies where we can quickly
assemble best-in-class talent clusters.” – David Montrose, InnVentures Read story
“The U.S. is more than familiar with the triple-net lease agreement in student housing, retirement homes, car washes, retail, restaurants, and in a lot of businesses. Why do we not apply the same rules for a hotel? We don’t want to create a franchising network. We would like to create a hotel network in the U.S. where we directly manage our hotel and pay the rent to our investor.” – Valerio Duchini, B&B Hotels Read story
“Accelerating change at scale for both IHG and the wider
industry also requires broader support from governments ranging from greater
access to renewable energy and incentives for owners, to a reduction in the
cost of technology that speeds up the industry’s transition to a greener, more
resilient future. IHG is committed to working with industry bodies and
governments to help achieve this, alongside encouraging more owners to adopt
carbon reduction practices and become Low Carbon Pioneers.” – Elie Maalouf, IHG
Hotels & Resorts Read story
“With post-pandemic travel prices still elevated, it is not
surprising that hotel guests say they are taking fewer trips, on average. Yet,
those hotel guests are staying longer on their trips, and this puts a real
focus on the hotel property for everything from room cleanliness and facilities
maintenance to interactions with front desk personnel.” – Andrea Stokes, J.D.
Power Read story
“My current optimistic prediction is that by the end of next
year we'll hit 1,000 hotels. I am pretty confident that with the current growth
path we'll achieve that number. Not that we really have a growth objective…
We're not going to just sign a brand because it's nice to have an extra brand.
It's got to fit with the spirit and mindset of what the alliance is all about.”
– Chris Hartley, Global Hotel Alliance
Read story