INVESTMENT
The Quadrum Global team , from left : Jimmy Suh , chief commercial officer , Arlo Hotels ; Oleg Pavlov , founder and CEO , Quadrum Global ; Amir Setayesh , managing director , Quadrum Global ; and Anoop Rustgi , SVP and head of asset management New York portfolio , Quadrum Global .
Street Partners , against Moskovits and her firm , alleging she and partner Lichtenstein had siphoned money out of the hotel . Both Moskovits and Lichtenstein denied the allegation , but Heritage subsequently faced lawsuits and a foreclosure attempt by Benefit Street . A bankruptcy trustee selected Quadrum as the buyer in January .
“ It was a highly sought-after asset ,” said Pavlov , noting the executors of the sales process said their company received requests for information on the property from across the globe . “ It was a highly tricky transaction — complicated . We thought we were well positioned to acquire the asset .”
“ Typically , a bankruptcy is quite messy ,” said Amir Setayesh , managing director of Quadrum Global . “ Contracts , vendors , even unknowns with the staff , not knowing what ’ s going to happen . With our beliefs and values , we were able to come in and stabilize things .”
In the end , said Pavlov , a lot of investors were deterred by the complexity so his company wound up competing against a smaller set of bidders . “ And here we are now ,” he said .
RETHINKING LIFESTYLE Pavlov commented that when Arlo started in 2016 , the expectation was it would cater to a young crowd : single travelers in their 20s and 30s . “ We discovered very quickly that the age range of our clientele is actually much wider ,” he said . “ It ’ s not just millennials ; it ’ s people in their 40s and 50s . You walk into Arlo SoHo and that ’ s who you see . I was very encouraged by that .”
Suh stressed that , unlike some lifestyle hotel players who prefer guests have a certain “ cool ” quotient , the Arlo brand is tagging “ approachability ” as a hallmark . “ There ’ s absolutely no ego within our staff , our team players ,” he said , noting the nonattitude stance comes from the C-suite .
According to Setayesh , the company looks to instill a sense of the importance of “ giving back ” to the team members , and every Arlo hotel selects a charity to support . For example , the soon-to-be Arlo Williamsburg supports the North Brooklyn Angels , which fights food insecurity with free meals , while in Manhattan , Arlo hotels support the Henry Street Settlement . “ And once a month we put hours in . It ’ s not just the financial ; we put some sweat into it . We get the staff to help and I do , myself ,” said Setayesh .
Pavlov felt The Williamsburg will benefit from the synergies the group has “ while also
66 hotelsmag . com Jul / Aug 2023