GLOBAL UPDATE : PROFILE
Trust
Hospıtality looks south
Expansion plans include Latin America and the new Hemingway brand .
By Nathan Greenhalgh , associate editor
Lobby of B3 Virrey
There are two paths Trust Hospitality is taking to expand its network of lifestyle hotels to Latin America : managing independent boutique hotels and managing the new Colombian brand B3 Hotel .
Coral Gables , Florida-based Trust operates 18 lifestyle hotels — 12 in the United States and six in Latin America — that range from 19 to 231 guestrooms . Most of the hotels are members of its Desires Hotel Collection . The company has opened a regional office in Salvador , Brazil , and it has five hotels under development in the United States and three in Latin America .
Trust is managing the new B3 Hotel brand being developed by Unika Promotora , Bogota , Colombia . Currently , one limited-service , lifestyle property targeting the mid-level business traveler is open in Bogota .
Trust President and COO Patrick Goddard says B3 Hotel will bring a fun product to Colombia ’ s relatively staid business hotel offerings . “ Most corporate hotels in Bogota are extremely boring ,” Goddard says . “ This has a DJ , full bar , restaurant and very funky design .”
The recently opened B3 Virrey , next to Bogota ’ s Virrey Park , is running 60 % occupancy with a US $ 115 ADR . “ The ADR is on par with the other corporate hotels for that market segment ,” Goddard says .
Not so different Although the privately held company co-owned by Goddard , Richard Millard and Michael Register prides itself on unique products , Goddard says Trust expands and manages its portfolio in Latin America much as it does in North America .
“ In terms of management , the expectations are the same in Latin America as in in Milwaukee , Chicago and New York ,” Goddard says .
Goddard adds that while Trust does not plan to expand by investing in the development of properties , it is able to offer a management platform that does not require heavy outlay for new technology . “ We ’ re getting called by people that have already arranged financing — a lot are either all-cash or co-op deals ,” he says . “ We don ’ t impose technology and tools on a property unless we have to .”
Hemingway partnership Trust also has partnered with Hemingway Hotels & Resorts , St . Croix , U . S . Virgin Islands . In April Hemingway signed a worldwide license agreement with a company controlled by the estate and family of Ernest Hemingway to develop hotels in markets that have a relationship with the author , his literature or his lifestyle .
Trust has worked on developing Hemingway ’ s brand standards and is providing assistance in pipeline development , in addition to managing the properties once they open .
However , at press time , Hemingway ’ s debut location had not been determined . “ We ’ ll be making an announcement within the next three to six months ,” Goddard says .
16 HOTELS July / August 2012 www . hotelsmag . com