Quotes of the Week: Gaw Capital, Aimbridge Hospitality, TMGOC Ventures

QUOTE OF THE WEEK
“We have arrived, and I firmly believe what we as a group has created is a polished diamond in the fragrant harbor, and the [hotel] once again will be the place to etch new memories and rekindle old memories for visitors and locals alike. And now the job is passed to IHG as they take what we have relaunched in Hong Kong... Take the Regent brand global and something that started from this hotel in Hong Kong. – Goodwin  Gaw, Gaw Capital Partners, at the grand opening of the Regent Hong Kong  Read story

“The third-party management space is the future of the industry, and Aimbridge is poised to lead the way. The company plans to supercharge growth by expanding our current capabilities and zeroing in on areas that pose the greatest opportunities to gain market share, all while delivering superior results for our owners” – Glenn Murphy, Aimbridge Hospitality, while announcing the departure of the company’s CEO and CFO  Read story

“There are many people out there who want to buy branded residences… They’re very expensive. I think developers have realized that there’s a market that’s one notch below. And we’ve just seen tremendous growth. For example, our Autograph Collection residences have grown tremendously. We signed one or two, and people weren’t sure if those projects would drive price premiums for the developers and a higher velocity of sales. But just like when we started Ritz-Carlton Residences 20 years ago… proof is in performance. And now that’s one of our fastest growing areas.” – Dana Jacobsohn, Marriott International  Read story

“There’s no magic mix to that. But I think on a go forward basis, we’re really interested in growing the operating company. We are looking at other acquisition opportunities, but it must be a good fit for us. We’re under no mandate. We’re just going to do what makes sense for us. We’re privately held and planned to be so for another 40 years.” – David Duncan, First Hospitality, upon the closing of its acquisition of Hostmark Hospitality  Read story

“I believe the existing macro environment actually provides an opportunity for conservatively underwritten and well-capitalized development projects. We’re undertaking construction while many are backing off, and the development pipeline nationally is shrinking. This puts us and our investors in an extraordinary position to deliver new products in the future at a time when new openings will be scarce,” – Krystal England, TMGOC Ventures  Read story

“Mexico's fatigued. From 2020 to 2021, during the pandemic, it was one of the few countries open for travel. People have been there, and they decided to go somewhere else in 2023. But it's not that concerning at this point for 2024. We’ll be fine.” – Jack Richards, Pleasant Holidays, who said Mexico bookings are down double-digits this year  Read story