Quotes of the Week: PwC, Pyramid Global, Shaner, JLL

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