Among the noteworthy quotes of the week is Lodging Analytics Research & Consulting's Ryan Meliker analyzing the price paid for the InterCon Times Square.
QUOTE OF THE WEEK
“I believe that [$380,000 per room] reflects the balance of
risks and rewards for the market today. The risk being a new union labor
contract that we expect to drive labor costs up materially, a federal
government that is negatively impacting inbound foreign arrivals and a new City
administration with many unfriendly business campaign policies (though we don’t
know if any will materialize).” – Ryan Meliker, LARC, commenting on the sale of
the InterContinental Times Square Read
story
“We’re going to buy incredible real estate, from great city
hotels to interesting resorts and some small little gems, as well.” – Richard Russo,
Highgate Read story
“We’ve been highly encouraged by our success to date in
executing our plan to drive outsized EBITDA growth, strategically sell assets,
and strengthen our balance sheet. However, we remain frustrated by the
discrepancy between the value of our underlying portfolio and the market value
of our common stock, and the board has tasked the special committee with
proactively exploring alternatives to bridge that gap.” – Stephen Zsigray,
Ashford Hospitality Trust Read story
“It's very different if you're an independent brand that is
owned by the brand, versus having an owner of the brand that also is a builder
and investor. The language is very different.” – Christopher Norton, Equinox
Hotels Read story
“This [loyalty] program was created with intention: for
travelers who expect more from the brands they choose and want to be part of
something meaningful.” – Raul Leal, Starwood Hotels Read story
“Once complete, Park will own one of the highest quality
hotel portfolios in the sector, with expected comparable RevPAR of $218 and a
presence in some of the strongest lodging markets in the U.S.” – Thomas
Baltimore, Jr., Park Hotels & Resorts
Read story
“Welcoming these properties [in New Orleans] to our
portfolio is a meaningful milestone in what has been an unprecedented year of
growth for Waterford Hotel Group. Our team has worked tirelessly to position
the company for continued success, and we look forward to building on this
momentum as we head into the new year.” – Duane Schroder, Waterford Hotel Group Read story
“These fundamentals present a structural opportunity for
Noble - to acquire at compelling yields, unlock performance through operational
alpha, and deliver stable distributions while compounding long-term growth. This
portfolio directly advances that strategy and adds meaningful scale to our
platform.” – Ben Brunt, Noble Investment Group
Read story
“Every [F&B] activation is accompanied by a mini-P&L
and ROI summary. Use data to determine what is a successful activation and if
it should be repeated.” – Greg Griffie, Davidson Restaurant Group Read story
“But 20 [keys] are ideal, for various operational reasons.
Beyond that, you’re going for a massive amount of land – think of the amount of
landscaping, maintenance, etc. that is needed. Moreover, 20 keys are ideal for
an IRR of 18% to 24% within five to six years.” – Willem Niemeijer, YAANA
Ventures Thailand, on outdoor lodging in Asia Pacific Read story