Among the noteworthy quotes from stories this week is hotelier Chip Conley waxing about the pending closing of his original Phoenix Hotel in San Francisco.
QUOTE OF THE WEEK
“Both the hotel and I have outlived some of the icons I’ve gotten to know as
guests over the years from David Bowie to River Phoenix to Sinead O’Connor to
Kurt Cobain (a note to Courtney Love, written on a Phoenix-logoed notepad, was
found on Cobain upon his death). I feel deeply grateful that this no-tell motel
is where I started my hotel career that led to Joie de Vivre creating and
managing 52 boutique hotels over my 24 years running the company (I sold the
management company and JdV brand in 2010). And I plan to throw a rockin’ 65th
birthday party at 601 Eddy Street on Halloween later this year.” – Chip Conley,
hotelier Read story
“We’re seeing some sellers willing to engage in discussions
that they weren’t necessarily willing to do maybe two or three years ago. But
it’s still tough. It’s a tough transaction market, and the bid-ask spread is
certainly still there.” – Ben Weinberg, Castle Peak Holdings Read story
“So, I believe it’ll be a ‘stock pickers’ market. I don’t
believe it’s the time to just rush in and buy everything that moves, but I do
think you’re going to find good deals.” – David McCaslin, CapStar Advisors Read story
“Equity is deciding to hand back the keys and not fight it
or try for another extension. And that lender is much more prepared now to take
it back than they were a year or two years ago... They’re not just looking to
put in a receiver and trade the asset as soon as they can. – Steen Petri HEI Hotels & Resorts Read story
“We’re thrilled to welcome the Playa team into the Hyatt
family – a move that not only strengthens our position as a global leader in
all-inclusive, but also builds on our momentum in the segment. Spending time
with the Playa team over the past several months has confirmed a deep cultural
alignment and shared commitment to excellence.” – Javier Águila, Hyatt Hotels
Corp. Read story
“Christian Charnaux joins Hilton at a pivotal moment in our
growth, following a record year of openings, signings, and construction starts
in 2024 that demonstrate the strength of our brands and commercial performance
with owners. His appointment builds on Kevin Jacobs’ outstanding leadership and
will allow us to further sharpen our focus on accelerating growth, to ensure we
can serve travelers for any stay occasion, anywhere in the world they want to
be.” – Spokesperson, Hilton Read story