Quotes of the Week: Turnberry, Ennismore, Arriba Capital

QUOTE OF THE WEEK
“David Martin (Terra CEO) and I would talk every Sunday at 8 p.m. and strategize for the week ahead, and then we would touch base during the week. We were flexible. We bent on certain items but didn’t break, and the lender did the same. When everybody’s doing that, and so did Hyatt, everyone feels like we’re working well towards a smart deal and a smart outcome, which is what our focus was.” – Aly-khan Merali, Turnberry, on negotiating a construction loan for the Grand Hyatt Miami Beach   See story

“Mexico has been a key gap in Accor and Ennismore’s presence, and this acquisition marks a pivotal step forward – enabling us to grow our footprint rapidly, unlock future development opportunities, and scale our all-inclusive platform in one of the world’s most dynamic and high-margin markets.” – Phil Zrihen, Ennismore   Read story

“Some underwriters are assuming flat RevPAR over the next 12–24 months, even for stabilized assets. At the same time, they’re baking in continued inflationary pressure on labor and operating costs.” – Ryan Bosch, Arriba Capital   Read story

“I’ve long admired the trajectory Hotel Equities has been on. This is a company with an exceptional culture and a leadership team that knows how to grow the right way. I’m excited to get started and contribute to the next phase of expansion.” – Greg O’Stean, Hotel Equities   Read story

“Most of our deals are off-market. That’s also because CapitaLand does have a long-standing presence across Asian markets. We have teams on the ground and an extensive network and connections with developers, partners and investors. We’re also very active, and we are able to move fast.” – Chun Meng Tan   Read story

“Loyalty programs have evolved beyond just rewarding frequent travelers. Total members grew by 14.5% in 2024 to more than 675 million, outpacing room growth of 6.7%. Members per available room increased by 7.4% to 137, reinforcing the importance of these programs in maintaining occupancy and revenue stability.” – CBRE   Read story

“We believe that this sale and the avoidance of the significant additional capital investment is a superior outcome for the company relative to continued ownership and re-investment. Additionally, the transaction has increased the overall quality of our portfolio, as Fairmont Dallas’ historical RevPAR and EBITDA/key trailed meaningfully below our portfolio averages.” – Marcel Verbaas, Xenia Hotels & Resorts   Read story