Quotes of the Week: Omni, Pro-Invest, Meyer Jabara

QUOTE OF THE WEEK
“We will outgrow some of our existing hotels over the next five years. I could see us harvesting the bottom 10%, reinvesting it in growth and continuing to raise the ceiling of our brand.” – Kurt Alexander, Omni Hotels & Resorts  Read story

“There’s now more predictability that interest rates are most likely going to stay [rather than rise further]. Australia has a strong GDP. We’re seeing family offices and some of the bigger boys coming back into the market looking at real estate assets, especially hotels.” – Jan Smits, Pro-Invest  Read story

“Innovative initiatives, based on solutions that have an impact on our core business, are crucial to achieving the sustainable ambitions that the hotel industry has set itself.” – Caroline Tissot, Accor  Read story

“The commonality tends to be that there’s been a long period where meaningful capital has now been invested, so the property quality is underperforming, partly because the product has gotten tired… (or there are) opportunities for physical improvements. We love it when it’s been the same GM for the last 10 years, doing the same things.” – Andro Nodarse-León, LionGrove  Read story

“It [the Baltimore property] could be multifamily, it may be something else. It may be a hotel and self-storage. The traditional model – finding a piece of land and building a Hampton Inn – is very tough to do right now.” – Justin Jabara, Meyer Jabara Hotels  Read story

“Returning to the historical home of HICAP at the beautiful, newly launched Regent Hong Kong presents a unique opportunity for the hotel-investment community to embrace its roots. The combination of the announcement of the 2024 dates for HICAP UPDATE in Hong Kong, HICAP in Singapore and HICAP ANZ in Sydney epitomizes the networking and deal-making opportunities as well as the overall impact of a brand with such a strong and respected history throughout the region.” – Jeff Higley, The BHN Group  Read story

“Right now, the story is South Asia, probably one of the most exciting places to be. It’s growing and when I speak to people, everybody’s optimistic. There’s actual investment. Deals are closing, especially in India where everybody sees the gaps in the market and rushing in to fill in those demand gaps.” – Shrikant Dash, Atmosphere Core  Read story

“For hotels to find enough staff (300,000 Israelis have been recruited for active reserve service in the IDF); to have the hotels ready to take tens of thousands of evacuees from the Kibbutzim towns and cities surrounding Gaza; to have good food chain supply during the war which is expected to take weeks isn’t going to be easy.” – Joseph Fischer, Vision Hospitality & Travel  Read story