Noteworthy quotes from the week's past stories, including JLL talking about anticipated CMBS issuance.
QUOTE OF THE WEEK
“We have an idea where we want to be in the next five years,
and then we can have a look at what’s next… I want to double the size of the
business in the next five years and see good growth outside of Italy, and the
U.S. is definitely key for us.” – Charles Forte, Rocco Forte Hotels Read story
“The volume of CMBS hotel issuance in the first half of 2024
has already exceeded the total for the entire year of 2023, reaching $10.7
billion. We anticipate more issuance to materialize in the rest of the year in
tandem with the rise of high-dollar trades, with this capital likely to
gravitate towards hotels in high barrier-to-entry markets that have diverse
demand drivers.” – Ophelia Makis, JLL Read story
“We’re making a shift there to move towards more of a
strategic investment led organization. We’ll still focus on the organic
opportunities, but we’re looking to leverage the balance sheet strength we’ve
developed over many years. We are asset light, but not asset purists,” Fraser
continued. “So, we will look to leverage balance sheet strength into
investments as they fit us strategically.” – Trent Fraser, Choice Hotels Asia
Pac Read story
“The motivation for implementing sustainability is more to
meet brand standards than to respond to guest demands, and hoteliers [in Asia
Pacific] highlighted lack of funding as the number one challenge in setting or
achieving environmental goals is the lack of funding for sustainability
initiatives.” – JLL Read story
“When we look at our business model, we look at where our
customers want to go – a handful of places in the world, which we call
backpacker trails. They want the experiences, the socializing and interaction
with other young people having their first travel experiences. That’s really
the most important thing here – tapping into a customer segment which no one
else has and has no way to come after because this hotel asset class is
incredibly fragmented.” – Gary Murray, Collective Hospitality Read story
“We are using WorldHotels as that opportunity to move Best
Western brands up and reposition the entire organization at that upscale level…
The key markets for us are all the regions of the world, but primarily in North
America, because we’ve only have about 30 properties there.” – Ron Pohl, BWH
Hotels Read story
“There’s a stronger desire to get things done,” she said.
“We have also seen a lot more interest towards franchising with owners [in
Australasia] becoming more familiar with the model, as well as more third-party
operators entering the market.” – Amelia Perez, Hilton Australasia Read story