Quotes of the Week: IHG, Hotel Equities, Remington

QUOTE OF THE WEEK
“Looking ahead, while noting that some forward economic indicators have softened, our comparable on-the-books global revenue for Q2 continues to show growth on the same position a year ago. Our ability to capture demand across geographies and chain scales, as well as being heavily weighted to domestic stay occasions, are resilient strengths of our business.” – Elie Maalouf, IHG Hotels & Resorts   Read story

“This merger is rooted in a shared belief that the future of hospitality management demands both scale and specialization. By bringing together Springboard’s strengths in innovation, technology, and entrepreneurial agility with Hotel Equities’ deep operational excellence and expansive footprint, we’re building a platform that gives owners exactly what they need in today’s market: smarter performance, tailored support, and the ability to truly differentiate.” – Ben Rafter, Hotel Equities   Read story

“Eventually we’ll see more availability of new construction debt. My expectation, however, is you won’t see the same sort of parallel slowdown in conversions.” – Tony Capuano, Marriott International   Read story

“Value erosion has occurred in a number of markets, making refis more challenging. Borrowers are forced to inject more equity, bring in a new capital partner, or accept ‘rescue capital’ with hopes that time will right the ship.” – Charlie Ryan, Hunter Hotel Advisors   Read story

“It’s very difficult to value a management company and the contracts and relationships they have with their ownership groups. So, there’s been a pretty big spread in the multiples that people are looking for versus what we would be willing to pay.” – Keith Oltchick, Remington Hospitality   Read story

“Our businesses are anchored by a stable and resilient base of essential frontline blue-collar workers, a guest segment that continues to drive consistent demand, even as broader corporate discretionary travel budgets tighten. This segment has shown resilience through prior cycles, and we expect it to do the same in any macroeconomic setup.” – Geoff Ballotti, Wyndham Hotels & Resorts   Read story

“There’s a couple of things that are discussable. For soft brands and traditional brands, there’s an entry fee to commit to the brand, and then there’s going to be ongoing fees… Royalty, marketing, technology, in our case, our soft brands tend to have much lower fees than our traditional brands and our core brands. So, you have those fees that are negotiable, that are discussable oftentimes, as an incentive. You can take a look at ramp-up fees to get somebody in and soften the early years.” – Bill Clegg, BWH Hotels   Read story