Among the noteworthy quotes from stories this week include Adriana Cisneros talking about opportunities in the Dominican Republic.
QUOTE OF THE WEEK
“It is amazing that there’s still so much beautiful land
available. It is a pleasure to be able to work with the government of the
Dominican Republic, who are very straight, who are supporting responsible
development with gusto, and who have made tourism their number one interest for
economic development of the country. There’s rule of law; it’s a proper
country.” – Adriana Cisneros, Cisneros Group
Read story
“They [deals] are being relaunched at, call it, 10% to 15%
below prior ask. It signals that sellers are being realistic.” – Shoham Amin,
Excel Group Read story
“Our strategy of renovating existing properties benefits us
substantially as the cost of improvements typically represents a fraction of
the overall cost, while the end-product is positioned to compete head-on with
similar newly built properties.” – Ben Rowe, KHP Capital Partners Read story
“We have to be careful if you start adjusting deductibles
because once you adjust your deductible, and especially on any sort of losses,
you’ve now set a new standard and then it’s much harder once you increase that
percentage up in some of these losses to go backward.” – Ray Martz, Pebblebrook
Hotel Trust Read story
“We’re actually working on a bunch of things internally at
the moment to do just that, to try to use the benefits of our scale to drive
some cost savings to owners. So, stay tuned.” – Kevin Jacobs, Hilton Read story
“Some of the parts of looking for every little nip and tuck
we could find amounted to significant cost savings. Obviously, results can
vary, but it could end up amounting to 10% to 15% in construction cost
reduction for hoteliers.” – Jenny Aboudou, Choice Hotels Read story
“The volatility is going to get really tough to operate in
this type of environment. We’re probably going to see some business pull back
at the hotel level, which is going to be challenging. We’ll probably continue
to be in this higher interest-rate environment, which will make it very tough.”
– Greg Friedman, Peachtree Group Read
story
“Debt is available from a range of sources, depending on
trailing cash flow, extent of CapEx required by the conversion plan, and
desired leverage and recourse levels.” – Krystal England, TMGOC Ventures Read story
“This is an important step forward for Corinthia. Beverly
Hills is one of the world’s foremost hospitality destinations and we are
determined to add value and creates luxury products and services to the benefit
of the local community and our Corinthia brand’s global positioning.” – Simon
Naudi, Corinthia Group Read story
“Turkey saw positive RevPAR growth for IHG in 2024 and
remains one of our fastest-growing European markets... This makes it a highly
attractive destination for hotel investment, reflected in our recent signings.”
– Nilsun Tümer, IHG Read story