Quotes of the Week: PM Hotel Group, NewscrestImage, Ensemble Hospitality

QUOTE OF THE WEEK
“Uncertainty and volatility about government policies, including funding and tariffs, are causing paralysis in the private sector as well as the government sector. That uncertainty is now affecting the market and the ability of businesses to plan causing a broader pause or wait-and-see approach.” – Joseph Bojanowski, PM Hotel Group   Read story

“I think if you're willing to, if you want to build something and develop something, be a purposeful developer. Don't just build because you're living in that town, or you're seeing a good market and you just build any brand. You have to pick a brand that serves the purpose of a community, traveler demand generator.” – Mehul Patel, NewcrestImage   Watch video interview

“We expected to be able to attract the Bay Area groups [to northern California wine country hotels] mid-week. It’s still there, but it’s just not there to what we thought it would be. It’s not as deep as what we think it should be. Hopefully, it comes back… We’re trailing some of the major MSAs. We are seeing it come back, but it’s one of our areas of focus because that can help us a lot on our midweek business.” – Conrad Garner, Ensemble Hospitality   Read story

“We're witnessing the classic pattern of hospitality development spreading across the country. The initial surge typically begins in the southern United States before expanding northward and eventually reaching coastal markets — a progression that strongly suggests we've entered a new phase of substantial pipeline growth across key metropolitan centers.” – Bruce Ford, Lodging Econometrics   Read story

“That Palm Beach County’s average daily rate was that high above Miami-Dade’s is nothing short of phenomenal. We definitely saw a noticeable increase [during Trump’s first term], but this cycle has started off far further ahead, and far stronger.” – Peter Ricci, Florida Atlantic University   Read story

“A key step in climate risk and resilience assessments is developing an adaptation strategy, which is needed for IFRS reporting and future-proof assets. For due diligence for hotel transactions, remediating structural vulnerabilities of properties to weather events is key, not least for insurability or reducing insurance premiums.” – Ricardo Moreira, XCO2   Read story