Quotes of the Week: JLL, Hyatt, First Hospitality, IHG

QUOTE OF THE WEEK
“Liquidity for select-service and extended-stay hotels has reached $62.6 billion since the onset of COVID (2021-2024), nearly 2x that of the prior four-year cycle and by far the highest 48-month total in U.S. history.” – JLL   Read story

“We’ve seen strong interest from owners both within and outside of our network who are looking for flexible conversion opportunities with access to Hyatt’s powerful commercial engine and distribution platform. The Hyatt Select brand will allow us to meet these distinct needs of owners and expand our brand presence for guests looking for a short stay option in secondary and tertiary markets.” – Jim Chu, Hyatt Hotels Corp.   Read story

“The small- to mid-sized companies are traveling more than they ever have, but the Fortune 500 are traveling less. The consultant business is forever changed. Deloitte used to be the number one room night producer for Hilton. It will never be that again.” – Sloan Dean, Remington Hospitality   Read story

“If you can find an asset that needs some love from capital, from a branding perspective, and do it well, you don’t necessarily have to overinvest in the finest marble or the finest spa to bring what we think is really the sweet spot of what we do, which is that experience.” – David Duncan, First Hospitality   Read story

“We’re excited about the growth we’ve had and our goal has been to add about four or five hotels to our portfolio every year. Over the last five years, we’ve achieved that. It’s a responsible pace. It’s the right pace so that we can scale the organization in the process.” – Jamie Caraher, Lodging Dynamics   Read story

“Over the last four years, illegal immigration was three times the level of previous administrations, and I don’t think any of us would say those were great years for labor in the industry. We had record labor tightness and high labor inflation. What’s intuitive may not be the actual outcome.” – Elie Maalouf, IHG Hotels & Resorts   Read story

“I think if we have that solid platform in Australia, then there’s room to grow beyond that. Once we have the capacity here, there’s no reason not to apply that elsewhere. If you look at how other hotel groups have grown historically, you will see that Australia has typically been a launchpad for the region.” – Scott Boyes, Trilogy Hotels   Read story

“The area [southern Europe] is attractive because it allows the creation of value-added investment opportunities. Acquisition prices are relatively lower than in northern Europe, so it’s less expensive. Demand is growing and there is a lot of demand that has not been met.” – Inès Haack, Extendam   Read story

“What we’re also seeing is what I call regional travel, or territorial travel, where governments are incentivizing travelers to stay and explore their own countries. So, we will, of course, try to leverage international travel as much as possible. We’re a global brand. That’s what we’re asked to do. That’s what our hotels expect. But we also have to market very strongly to take advantage of the opportunities that are within those regions themselves.” – Larry Cuculic, BWH Hotels   Read story