Among the noteworthy quotes of the week is Oyo International's CEO commenting on the significance of its G6 Hospitality acquisition.
QUOTE OF THE WEEK
“This acquisition is a significant milestone for a startup company like us to strengthen our international presence. Motel 6’s strong brand recognition, financial profile and network in the U.S., combined with Oyo’s entrepreneurial spirit, will be instrumental in charting a sustainable path forward for the company, which will continue to operate as a separate entity.” – Gautam Swaroop, Oyo International Read story
“We are thrilled to be involved in a project that honors Georgetown's rich history and also establishes an exciting new destination for the local community and visitors from around the world. The private membership club aspect is particularly compelling, as it is designed to connect thought leaders and foster a sense of community curated by José Andrés Group, where local and global guests will be able enjoy exclusive experiences, entertainment venues, and more. With strong roots in D.C., Jose Andres Group is the perfect operator for this venture, and we look forward to collaborating.” – Joe Sitt, Thor Equities Read story
“Over the last couple of years, we’re starting to see that first trend of lifestyle in extended-stay and we feel like Catbird was a little bit ahead of the trend. [This project] is a really compelling next step for us, where we feel like we know the operating model and understand the revenue management strategy. But now have the power of Marriott Bonvoy behind us as well, which is exciting.” – Dean Stambules, Sage Hospitality Group Read story
“We’ve seen some more attractive financing options on our
acquisition opportunities here over the last three to four months and some of
that has been baked into pricing. If nothing else, the perception of heading
into a more favorable interest-rate environment will help narrow that bid-ask
gap and ideally facilitate transactions.” – Michael Bernath, Peachtree Group Read story
“We hit the ground running with IHG. With the Kimpton Tres
Rios, we’re confident we can deliver a truly unique experience for the luxury
all-inclusive segment, seamlessly blending the hotel’s distinctive natural
elements with the exceptional service and inclusions Playa Hotels &Resorts is
known for. Our goal is to create a product that stands out from other
all-inclusive offerings in the region, and we’re thrilled to welcome this brand
to our portfolio.” – Fernando Mulet, Playa Hotels & Resorts Read story
“We’ve been pleased to see the similarity and thinking that
we have between the firms both in our strategy with respect to this asset and,
I would say, hospitality investments overall. There are a lot of common themes
that we both pursue, and this was really an ideal transaction for the first of,
hopefully, a few JVs.” – Krystal England, TMGOC Ventures Read story
“You need to look where diversity exists and create
relationships beyond your own boundaries. If you see people with talent but not
the opportunity, sponsor them. Help them achieve their goals through education,
apprenticeship opportunities, or funding their training with a bursary, and
then give them a chance to come onboard afterwards. With opportunity comes
progression.” – Michael Caines, Lympstone Manor Read story