Among the noteworthy quotes of the week was JLL on the investment in select-service and extended-stay at nearly
2x that of the prior four-year cycle.
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