Quotes of the Week: Kempinski, Choice, Mountain Shore, Outrigger

QUOTE OF THE WEEK
“Brace yourself because we are going to present to the board an organic plan and a bold plan because this brand deserves it.” – Barbara Muckermann, Kempinski Hotels   Read story

“And quite frankly, as a real estate developer, I don’t want rates to be pushed down too far too fast because that’s when you get overcrowding and a lot of the bad deals, which doesn’t really help anybody.” – Stephen Wendell, Mountain Shore Properties   Read story

“It’s putting that owner together with those particular capital investments, those particular economic development boards, those TIFs and other types of lending so that they may be able to access and get their equity.” – John Lancaster, Choice Hotels   Read story

“All of the residents who were displaced from their homes and were in hotels and condos have been moved into some type of more permanent housing, which is fantastic. Hotels are back to traditional business, and the business is starting to increase pretty rapidly in West Maui. We’re very encouraged with occupancy at this stage, and each month it continues to get stronger. We bought the Outrigger Kaanapali Beach Resort two weeks before the wildfires, so, as you can imagine, we’re still ramping up that property; but it’s performing very similarly to the rest of the hotels in that market. We’re in the planning phases for what the future looks like for this hotel, which we’ll announce shortly.” – Jeff Wagoner, Outrigger Resorts & Hotels   Read story

“For work of any reasonable scale development [in Australia], there’s pretty much a working assumption that at least one of your key subcontractors is going to go insolvent during the course of construction. That’s a real issue for anyone in the development game and financiers. It’s why financiers are putting such a great emphasis on doing due diligence not just on the developer but also on the builder and understanding the builder’s balance sheet builders and the builder’s work.” – Kenneth Nguyen, Ashurst   Read story

“Selina’s innovative approach to blending work, leisure, and culture aligns perfectly with its vision of creating memorable experiences for our millennial and Gen Z guests. This acquisition not only expands our portfolio of properties but also strengthens our commitment to redefining hospitality in the modern era.” – Gary Murray, Collective Hospitality   Read story

“It’s a real win-win situation for both companies. It broadens our development horizons without compromising our existing brand portfolios, allowing us to capitalize on prospects that might not align with our current brand offerings.” – Siradej Donavanik, Dusit Hotels and Resort, about their deal with Generator   Read story