Among the noteworthy quotes of the week was Pyramid Global's Chris Devine talking about its move deeper into the U.K. and Europe after its deal with Axiom Hospitality.
QUOTE OF THE WEEK
“We’re going to have the premier independent management company in Europe going forward once we’re fully integrated. That was a key thesis for this deal – to set us up to be the go-to manager of choice for institutional capital.” – Chris Devine, Pyramid Global Hospitality Read story
“Harris Rosen was an inspirational figure and a shining
example of the passion and drive that hoteliers need to succeed. His love for
the industry made him the largest independent hotelier in Florida, but he
showed us the true meaning of hospitality through his philanthropic work…
Harris left an indelible mark on this industry and its people that will be felt
for generations. We will miss him.” – Rosanna Maietta, AHLA Read story
“Despite stagnant supply levels over the past few quarters,
new construction projects are expected to be spurred in 2025 by a combination
of factors, including increasing optimism about a soft landing, easing monetary
policies, and other capital markets tailwinds. However, overall impacts from
the macroeconomic environment are expected to continue to suppress demand and
occupancy growth in 2025.” – PwC Read story
“Hotel
transaction activity is unlikely to see a sharp uptick in the fourth quarter,
even with the Fed cuts. While the cuts help hotel values, they are not enough
to improve them because operating cash flow is struggling for many hotels.” –
Emily Hise, CoStar Read story
“While there is an obvious and growing demand for
well-branded, well-operated hotels throughout the Gulf region, there are
surprisingly few existing opportunities there to pursue as local owners tend to
gravitate toward independent properties with lesser oversight. This partnership
aims to fix that, providing service. es for all stages of the hotel life cycle,
from site selection through final sale.” – Plato Ghinos, Shaner Hotels Read story
“They [adventurous, young entrepreneurs] want to do things
differently. They see things differently and often we have a natural match
between our brand and the hotels that they want to realize.” – Stijn Oyen,
Design Hotels Read story
“We expect hotels to remain one of the most attractive asset
classes due to its robust performance and Singapore’s status as a global safe
haven for investments.” – Tan Ling Wei, JLL Hotels & Hospitality Group Read story
“While the global health and wellness market is projected to
reach - $7.6 trillion by 2030, the path to profitability in hotel wellness
isn't as straightforward as ‘build it and they will come.’ The reality is far
more nuanced, and the latest data suggests that sometimes, less really can be
more.” – Roger Allen, RLA Global Read
story