Quotes of the week: Concord, Everwood Capital, Archer Hotel Capital, JLL

QUOTE OF THE WEEK
“More and more, this is somewhat of a trend with institutional investors like Whitman Peterson aligning their interests to a great degree with their operating managers. Investing in the operating company creates greater alignment. You may see more of these deals happening. When I spoke to other potential investors there was great enthusiasm. I could have sold all our stock, but I didn’t want to that.” — Mark Laport, Concord Hospitality Read story

“It allows us to underwrite a deal and have some confidence that our operations will be able to prove the underlying underwriting at the end of the day. That allows us to make faster decisions on acquisitions and development.” — Amit Patel, Everwood Capital Partners, on its deal with Scarlett Hotel Group Read story

“The Hoxton hotels are among the highest yielding central London hotels. Ennismore/Hoxton has set the benchmark in the lifestyle space over the last decade.” — Dominic Seyrling, Archer Hotel Capital Read story

“We expect pricing for full-service urban hotels to increase as fundamental performance accelerates underpinned by the return of group, corporate, and international travel. As such, we expect acquisition and development cost to converge within the next 18 to 24 months, meaning that now is the opportune time for investors to acquire full-service urban assets.” — Ophelia Makis, JLL Hotels & Hospitality Research Read story

"We are delighted to have had the opportunity to acquire this one-of-a-kind portfolio of Central London freehold hotels. London is one of the world's most sought-after hotel markets, and this portfolio enables to us gain exposure on a unique scale to London. We plan to invest significant capex during our ownership into further enhancing the hotels." — Tim Abram, Starwood Capital Read story

“From the beginning, Wyndham has consistently stated that this transaction would be subject to an FTC Second Request, and therefore the FTC's decision to issue one is no surprise. Choice, on the other hand, continues to ignore the significant risk this poses to our shareholders, and mischaracterize how the FTC will define the relevant market. The protracted review process – with an unpredictable timeline and outcome – would substantially reduce the value of Choice’s offer and disrupt Wyndham's business.” —Stephen Holmes, Wyndham Hotels & Resorts Read story

“The number of rooms in construction fell in December following a nearly 7% increase in October that held steady through November. For most of 2023, rooms in construction trailed 2022, but the increases in both the final planning and planning stages point to confidence in travel for the foreseeable future. Historically, the final phase of the pipeline has declined month over month in December.” — Isaac Collazo, STR Read story