Today’s guest is a recognized leader in domestic and international real estate, travel, lodging, and restaurant industries. He is a proven, articulate thought leader and has delivered exceptional results in the hospitality industry. Brian Quinn is the Chief Development Officer at Sonesta. Brian joins the host Dan Ryan to share what he had learned through his journey in the world of hospitality.
Takeaways:
- In the hospitality industry, everyone works together to help achieve a goal. A great design can only come to life if someone is willing to put it in their building.
- If you are an owner or operator of a hotel or hospitality business, you will bring a different level of energy and care to a project. You will be more focused on the return on investment in that aspect.
- In 2012 the RMR Group acquired hospitality spaces, bringing a whole new level of finance and real estate expertise into the hospitality industry.
- During the COVID pandemic, there was a higher demand for extended stays and economy-style hotel stays as more people worked from home.
- The top three things that make Sonesta a good brand to join are the market availability, the access to an executive team, and the last piece is the owner lens.
- There are a few ways to underwrite a CapEx renovation; one is to think about what happens to your performance if you do nothing, and the other way is to check for any headroom in the market and see if you can perform better.
- Whether a recession comes or not, if unemployment remains low then people are going to spend their disposable income on dining, travel, and other hospitality experiences.
Quote of the Show:
“Whether we technically go into a recession or not, if unemployment stays low, people are going to spend their disposable income on dining out and traveling.” - Brian Quinn
Links:
Shout Outs:
2:26 Holiday Inn
7:17 The RMR Group
10:58 Marriott
11:00 IHG Hotels
12:00 John Murray
12:04 Keith Pierce
12:06 Wyndham
12:09 Red Lion
13:58 Intercontinental
13:59 Kimpton Hotels
14:00 Crowne Plaza
14:01 Candlewood
14:02 Staybridge
19:26 Hilton
19:27 Statler
20:47 Jeremy Selman
23:50 The Benjamin
23:53 The Shelbourne
23:57 The Gardens
24:07 The James
33:04 Wells Fargo
33:09 Wachovia
Ways to Tune In:
