Among the noteworthy quotes from this week's stories is Ryman Hospitality Properties' Mark
Fioravanti talking about their acquisition of the JW Marriott Desert Ridge.
“The JW Marriott Desert Ridge has been one of our top acquisition targets for many years. Given the limited availability of marquee group-focused assets that complement our existing portfolio and group strategy, we are thrilled to acquire this resort.” – Mark Fioravanti, Ryman Hospitality Properties Read story
“I couldn’t be more excited to lead the Remington team and continue the journey that Sloan has paved. Remington is in my backyard here in Dallas and the ramp for this will be lightning quick and turnkey. We are positioned very well to drive growth in third-party operations, while using my operations experiences to focus on day- to-day performance for our owners, investors and stakeholders.” – Ben Perelmuter, Remington Hospitality Read story
“The merger of these two trophy assets [Ritz-Carlton Key Biscayne and Key Bay Club] is a win-win for everyone involved because the sum of the pieces is clearly more than the individual components. Being able to possess a property with over 1,200 feet of ocean front is extremely unique in the South Florida market.” – Edgardo Defortuna, Fortune International Group Read story
“We are delighted to announce an extended long-term agreement with Salter Brothers, which further strengthens our existing, highly successful relationship. This partnership accelerates IHG’s Luxury & Lifestyle growth in Australia and enables Salter Brothers to reposition key assets and unlock long-term value in this space.” – Mark Tripolone, IHG Hotels & Resorts Read story
“This deal will help meaningfully expand Marriott’s leading
position in India, a key market for the company. We see this multi-unit
conversion deal as a strong foundation as we look to accelerate growth of the
Series by Marriott collection in additional markets around the world.” –
Anthony Capuano, Marriott International
Read story
“First Investors operates with a national scope, favoring
regions with strong demographic trends and markets with diverse demand drivers.
That said, one of our differentiators is a flexible, opportunistic approach to
geography in which we place greater emphasis on the asset-level story than on
fitting within a predefined market thesis. We're especially drawn to assets
where the demand fundamentals align with our operational strengths, regardless
of location.” – David Duncan, First Hospitality Read story
“We have had many conversations with modular builders and
manufacturers, and so forth and I think that we are on the cusp and I think
that you’re going to start seeing more of that going forward. It makes all the
sense in the world. With today’s interest rate environment, the sooner you can
get to market and the sooner you could open a hotel, it’s better. If it takes
you 18 months to build traditionally and you can get it done modularly in five
months, that is massive. We are very interested in that space and hopefully,
they will continue to improve that technology. We have to move forward in
construction development, otherwise it cannot be sustainable.” – Mitch Patel,
Vision Hospitality Watch video
“Wellness-focused guests stay longer and they spend more
across the board.” – Alexandra Walterspiel, Sensei Read story
“If you have good sponsorship, with a good balance sheet and
the deal itself is cash flowing, then you can find a bank. But instead of
calling 20 banks, you’ve got to call 100 banks to find it.” – John Pascal,
Paramount Capital Advisors Read story
“Nobody’s thinking or wishing or ideating that we’re going
to have another downturn like COVID, but if there was a recession, historically
select-service [will outperform the industry], which is why I think there’s so
much interest in it right now. All of the smart money in this country, when it
comes to development, if you look at all of the private equity and look at all
the people that call us up, the institutional money that are building Echo
Suites by Wyndham today, they’re all looking at select-service in a different
light than they were pre-COVID.” – Geoff Ballotti, Wyndham Hotels &
Resorts Read story