Quotes of the Week: Starwood, Collective Hospitality, Accor

QUOTE OF THE WEEK
“Our journey has just begun. As we embrace bold ideas, expand into new markets, and continue to reinvent the hospitality landscape, we hope to build a legacy that will inspire future generations. The best is yet to come.” – Barry Sternlicht, Starwood Hotels   Read story

“We continue to expect there to be U.S. lodging markets that materially outperform as well as those that underperform national averages. Over the medium-to-long term, we expect markets with outsized exposure to leisure transient and group to outperform. However, in the immediate term, those with outsized exposure to continued corporate transient recovery should perform well.” – Ryan Meliker, Lodging Analytics Research & Consulting   Read story

“We’re bringing in salespeople, whereas the Selina guys really never did any MICE, wholesale, wedding, corporate business – not at all… We need to drive business based on the DNA of the hotel.” – Gary Murray, Collective Hospitality   Read story

“Five years ago, we were invited maybe one time out of 10 for requests for proposals because we either didn’t have the brand or the talent. Today, if you look at the same 10 RFPs, we are invited 10 times, and I think we win a half of those.” – Sébastien Bazin, Accor   Read story

“Vietnam was the huge gainer in the single most expensive thing that goes in a hotel room, which are the case goods, the wood bedroom furniture. I would say 95% of the case goods we buy now come from Vietnam. Ten years ago, it was 90% from China.” – Alan Benjamin, Benjamin West   Read story

“They’re fabulous assets. They're brand new, great quality assets – solid 5-star lifestyle hotels, which we really like. It’s very hard to get anything in Europe, let alone new product and lifestyle that’s good and at great destinations.” – Ramsey Mankarious, Cedar Capital Partners   Read story

“Asia-based capital has been extremely active in the Oceania hotel space and with this landmark transaction, it is clear that New Zealand stands as one of the most attractive hotel markets regionally for investors diversifying into non-traditional markets.” – Nihat Ercan, JLL Hotels & Hospitality   Read story