Among
the noteworthy quotes from stories this week is Cody Bradshaw talking about
L+R’s newly launched hybrid capital and operating partner model.
QUOTES OF
THE WEEK
“We have the ability and opportunity to really disrupt this traditional GP operating partner model through this rare combination of discretionary capital coupled with our operating platforms, offering that true alignment of interest.” — Cody Bradshaw,
L+R Read story
“Both our acquisitions and as well as our new developments have been over the last 20 years in the Sun Belt, Texas, Florida, Colorado and now California. While San Francisco is an interesting turnaround opportunity, it’s really hard to make a case where
RevPAR growth is diminishing, where groups are not attracted to that particular city.” — Ira Mitzner, RIDA Development Read story
“People need to know why they’re doing something. Any situation can come in front of you. If you know exactly why you’re doing it, then you will know how to act. That’s the best guardrail we have.” —Gilda Perez-Alvarado, Accor Read story
“When I think about these beautiful buildings that we all design, great lobbies and beautiful guest rooms. Ultimately, it’s emotion. If people go there and they don’t feel anything than we’ve really lost the context of the purpose and of why we’re here.”
Daniel del Olmo, Sage Hospitality Read story
“The number one thing we’ve seen to get deals done is that there needs to be a lever or a real business plan and an opportunity to make something change. Whether that’s a change of the flag or whether that’s bringing in some sort of expansion or something
to do that really changes it from A to B. You can’t just say, ‘I’m going to paint the pig and then I’m going to sell it to the next guy.’ You really have to figure out a way to make something interesting.” Steve Michels, Berkadia Read story
“You’re going to see some franchise operators come on board, and the volume of interest we’re seeing already is incredible. We’re going to have several thousand [units] by the end of this year. From the standpoint of future growth, we think this will
be upwards of 20,000 units.” Gary Steffen, Hilton Read story