HOTELIER ’ S LIFE
CONTRARIAN
DEVELOPER
By JEFF WEINSTEIN , EDITOR IN CHIEF
Homi Vazifdar describes himself as a serial contrarian . The co-founder of Canyon Equities , Larkspur , California , which acquires and develops smaller luxury resorts under brands such as Aman , Six Senses and Four Seasons , helped develop and open two luxury resorts during the global economic meltdown . “ We defy market characteristics and demand rates in the stratosphere ,” says the man who was the co-head of Lodging at Banc of America Securities from 1998 to 2003 . “ We currently boast some of the highest rates in the United States . We are now developing luxury tents and tented villages and have pegged tent rates at over US $ 5,000 per night .”
HOTELS asked Vazifdar some questions about his hotelier ’ s life .
“
( 2018 ) WILL BE FLAT COMPARED TO 2017 , WHICH BY THE WAY , IS PRETTY DAMN TERRIFIC AND NO ONE SHOULD COMPLAIN .
”
— HOMI VAZIFDAR
HOTELS : What is the industry ignoring at its peril ?
Homi Vazifdar : Cannibalization . There has been sustained and continued growth in the lodging economy , and the “ big boys ” seem to roll out brands at a rapid-fire pace that are alarmingly similar to their existing stable of brands . When the U . S . economy softens ( which it will ) and interest rates start inching up , these copycat brands will surely fall prey to cannibalization .
H : What ’ s one prediction you ’ re willing to make about your discipline in 2018 ?
HV : It will be flat compared to 2017 , which , by the way , is pretty damn terrific and no one should complain .
H : What are you reading right now ?
HV : Wall Street Journal , The Economist , Robb Report , HOTELS ’ Investment Outlook and various hotel and travel magazines . What I am not reading and watching is more important . I ’ ve stopped reading the New York Times and watching CNBC because of the constant Trump-bashing , and I ’ ve stopped watching Fox News because of constant liberal-bashing .
H : Describe a typical day .
HV : I wake up every morning at 4:45 a . m . and with my first cup of coffee I create a daily to-do list . Then I ’ m in the office by 6 a . m ., and until 9 a . m . I have “ quiet time ” or what I typically call my “ idea time .” This is when I let my imagination run wild , and I try to be as creative as possible .
H : Who inspires you ?
HV : Folks that have created the perfect blend between passion and profit such as George Lucas , Peter Ueberroth and my very good friend , Anil Thadani ( chairman , Symphony Asia Holdings Pte . Ltd .).
64 hotelsmag . com January / February 2018