It All Starts With An Owner

For the last two days I participated in a hotel development-focused conference called Caribbean Hotel & Resort Investment Summit (CHRIS) and Hotel Opportunities Latin America (HOLA). For those of you who might not be familiar with these events, CHRIS/HOLA are business-to-business conferences that enable hotel developers, investors, brand, and management companies to come together and share insights on travel at large and seek new opportunities for growth.  At the heart of this event, it always reminds me that nothing is possible without our owners. They spark the vision, drive the imagination, and accelerate the risk taking by acquiring an empty piece of land and developing a hotel. Once the owner secures the land, we are more than happy to help supply a brand! I’ve always said, “Without an owner, there is no hotel. Without a hotel, there is no brand. Without a brand, there are no guests. And without guests, there are no associates.” It goes without saying that owners are core stakeholders to the industry and Marriott International. 

The CHRIS/HOLA meetings themselves hosted energetic networking events, thought-provoking industry content and a compelling narrative on the upbeat outlook for the Caribbean and Latin America (CALA). Marriott was able to lean into these conferences under the watchful eye of Laurent de Kousemaeker, our Chief Development Officer, and his team which showcased our newest brand City Express by Marriott by building a sample guest room at the show, along with telling the story of brand growth opportunities in the luxury, lifestyle, premium, extended stay and select service categories. I am proud of the CALA Development Team and the deep relationships, some span decades, they have formed with owners and investors across our region. 

Additionally, I was pleased to hear the long-term sentiment for the lodging segment continues to be solid and there was a general sense that the “Bleisure Travel” is here to stay. This fundamental shift with travelers results in positive demand trends for the industry and ownership.  I am not naïve to the fact that the lodging industry is cyclical. Yes, I’ve experienced a “few” peaks and valleys in my career. But what I know without hesitation, is that travel is more than a human desire, it is core to satisfying our wanderlust and sense of exploration. There will always be a demand for travel no matter what the critics say.  When will the next downturn come? Who knows. But in the meantime, keep dealmaking and keep traveling.