The most noteworthy quotes from the past week's stories, including Aimbridge Hospitality CEO Craig Smith talking about the projected impact of continued reorganization.
QUOTE OF THE WEEK
“We are setting ourselves up to be a turbocharged, GM and hotel-centric organization where we are focused on each hotel, each owner and each brand. But we’re going to do this by continuing to remove layers, and the removing of those layers will increase our speed. It will take out bureaucracy and also drive performance.” – Craig Smith, Aimbridge Hospitality Read story
“When you couple the demand for that higher quality hotel
with high barriers to entry, high construction costs, limited availability of
sites, entitlements and permit risk, it’s reasonably easy to be bullish in the
hotel space as a long-term holder of value. And we see the partnership with
Trinity as a way to unlock opportunities and further amplify returns by
layering value-add strategies on top of the strong macroeconomic environment
for the asset class.” – Jason Longo, Partners Group Read story
When you couple the demand for that higher quality hotel with high barriers to entry, high construction costs, limited availability of sites, entitlements and permit risk, it’s reasonably easy to be bullish in the hotel space as a long-term holder of value.
Jason Longo, Partners Group
“This acquisition provides us with the rare opportunity to
enhance our hospitality portfolio with a trophy asset, expand our presence in a
key gateway city in Europe ahead of the Paris 2024 Olympics and bolster our
recurring income with potential for value-add.” – Kwek Leng Beng, City
Development Ltd. Read story
“We expect to see at least three more separate all-inclusive
property deals before the end of the year – two in the Dominican Republic and
one in Mexico.” – Gustavo Viescas, Wyndham Hotels & Resorts Read story
“We will also establish a business development team in the
area and the Trust team is based in Coral Gables, Florida. Just as we did when
entering the Canada market, we know the right way to do it is with people from
the market who are ingrained in the culture.” – Joe Reardon, Hotel Equities Read story
“When we did take over a property in Costa Rica, instead of
going down there and doing an orientation and explaining to them the Remington
culture, we actually did an orientation where we had them teach us their
culture for the first couple of days of the transition. We went down there
knowing this was a new market and that we would have to look at things
differently.” – Keith Oltchick, Remington Hospitality Read story
“With international arrivals continuing to improve in Canada, sentiment to grow supply in the core markets has returned. Much of the new announcements and growth in new construction projects is within the top six Canadian provinces.” – Bruce Ford, Lodging Econometrics Read story