Quotes of the Week: PM Hotel Group, JLL, Noble, Davidson

QUOTE OF THE WEEK
“When you look at what continues to happen in the capital markets and the pressures that are coming around everything from DSCR tests (debt-service coverage ratio) to refinancings and everything else, premium performance is a minimum requirement. You need depth of experience and support across every element of the hotel operation to be able to deliver for an owner. There aren’t any more silver bullets left on the revenue or expense side, making premium performance super nuanced.” – Joseph Bojanowski, PM Hotel Group   Read story

“Transactions in that $50 million to $250 million range, typically the heart of the market, are at the lowest percentage of total transaction volume in over a decade. This ‘hole in the donut’ may present an opportunity moving forward.” – Ophelia Makis, JLL Hotels & Hospitality Group   Read story

“There’s a lot of reasons that create the need or the desire for an owner or a partnership to transact. We think that the environment that we’re in and what we believe will still be the situation into the next 12-18 months will still be helpful to groups like Noble that have raised capital to deploy during this time period.” – Ben Brunt, Noble Investment Group   Read story

“We think right now we operate from a position of strength. The business has really strong momentum. The company is quite different than the last time we looked holistically at the organization. If you think about the changes in the company over the last decade, we’ve more than doubled in size, entered over 60 new countries, now operating in 142 countries. So, it felt like the right time to really look across the enterprise and figure out what adjustments we can make to enhance and improve our efficiencies.” – Anthony Capuano, Marriott International   Read story

“As we move more upstream, there is a multiplier effect, as the hotels we’re bringing into the system are 20% more valuable than the ones that are exiting. As you get that growth in the higher-rated chain scales, there should be an accelerator on the royalty side. If you look at the building blocks for Choice this year, you can still build through those levers.” – Scott Oaksmith, Choice Hotels   Read story

“We are thrilled to embark on this new chapter with Nautic Partners. Nautic's commitment to supporting the long-term growth and success of its portfolio companies aligns perfectly with our strategic vision. We are confident that their partnership will enable us to continue delivering exceptional hospitality experiences while exploring new opportunities for expansion and growth.” – Thom Geshay, Davidson Hospitality Group   Read story

“With each of the IHCL’s hotel brands having achieved optimum scale… the timing was right to expand the brandscape and address emerging formats in India’s fast-evolving hospitality landscape.” – Puneet Chhatwal, IHCL   Read story

“Our extensive experience in hotel operations allows us to partner with Group 10 to take third-party management to a whole new level.” – Vickie Callahan, Peachtree Group   Read story

“We believe there’s a lot of opportunities in the Western market, which has not capitalized on mixed-use as much as Asia. Land in Singapore, for instance, is so scarce, so people are trying to find the optimal mix, whereas in the more established Western countries, they will just do retail or office.” – David Tsang, Pontiac Land Group   Read story

“Griffin Hotel Management is a legacy organization with a great reputation, and we are honored to bring the DNA of this outstanding company – whose culture and values mirror our own – into Meyer Jabara Hotels. The Jabara, Meyer and Fishman families were early pioneers in hotel franchising, building some of the first Holiday Inns. Their passion for hospitality and longevity in the industry has given them unrivaled expertise that has stood the test of time… Griffin is bringing a lot to the table, including some highly coveted top talent.” – Justin Jabara, Meyer Jabara Hotels   Read story