Quotes of the Week: Wyndham, Smith Hill Capital, Mohari Hospitality

QUOTE OF THE WEEK
"They called us and they don't have a plan. So, their plan seems to be to put out repetitive press releases and see if they can churn the water enough to make it interesting for us. I just don't see that as a plan. That's a bit of a desperate plan." – Stephen Holmes, Wyndham Hotels & Resorts on Choice Hotel’s takeover bid  Read story

“We respect Wyndham’s desire to achieve the best outcome for its shareholders, but that can’t happen if Wyndham unilaterally ends our discussions. Both companies’ shareholders have expressed to us their understanding of the tremendous value this combination could deliver. As recently as a few weeks ago, Wyndham prepared a critical information request list, on which both parties broadly aligned, to help Choice and Wyndham close any remaining value gaps. Wyndham then disengaged before any information was exchanged. We therefore strongly urge Wyndham to return to the discussions. Choice is ready to move expeditiously to negotiate binding terms, including mechanisms to provide market standard protections for Wyndham shareholders.” – Patrick Pacious, Choice Hotels International  Read story

“So, for us, it’s a natural complement and broadening of the Procaccianti business more than anything else. We do view this as a very interesting point in our economic cycle. We also would agree that debt offers a very attractive risk adjusted proposition in this market.” – Brendan McCormick, Smith Hill Capital  Read story

“It is a very good time to buy hotels, but I think because many people see it the same way, it also makes the hotel sector very competitive. It’s a competitive time in hotels, but transaction volume is down year-over-year. It’s because there is a pricing and expectation gap between the seller and buyer right now.” – Christina Gaw, Gaw Capital Partners  Read story

“We are confident in our ability to accelerate net unit growth to 5.5% to 6% next year and return to our prior 6% to 7% growth rate,” – Christopher Nassetta, Hilton  Read story

“Our goal at Mohari is to partner with experienced best-in-class organizations that share our values and our view on long-term investing while complementing the capabilities of our firm. JMA is such an organization, and we believe our combined resources will enable us to create some of the best hospitality and leisure properties in many of the most desirable markets in the country.” – J. Allen Smith, Mohari Hospitality  Read story

“The only thing that has really evolved over the last year or two is that we’ll continue to be very aggressive in our pursuit of single-asset conversion. But we’ve also ramped up our efforts on portfolio conversions.” – Tony Capuano, Marriott International  Read story

“Reflecting the breadth and attractiveness of our portfolio, ‘quicker to market’ conversions have increased this year to be over one-third of openings and signings.” – Elie Maalouf, IHG Hotels & Resorts  Read story

“Those with staying power will have the benefit of securing prime sites that are sure to benefit them in the long run.” – Eric Levy, Tourism Solutions International   Read story