Andrew Mungul , director of business development , Coury Hospitality |
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key locations driving business travel , such as the World Trade Center Asunción . Similarly , if there ’ s investment in highquality leisure , high-end shopping and an influx of highnet-worth individuals , it might make more sense to introduce a luxury brand . |
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CRITICAL MASS It ’ s not necessary , said Reardon , to have critical mass , like the presence of other brands in the portfolio , at entry , but the company moves into a market well prepared for expansion “ because when it does its job well it gets attention and is the catalyst for expansion ,” he said . There is no more effective marketing as a management company , he added , than to outperform the competitive set |
in the markets where it operates . Opening several hotels in quick succession after marking new territory , said Fortier , enables Hilton to capture more demand and build a reputation .
Hotel Equities , noted Reardon , entered the Canadian market in 2018 with two hotels and has grown that to more than 40 with 10 in development . It now has a Canada headquarters based in Edmonton , Alberta ,
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and two regional offices near where hotels are clustered . The same cadence will follow for the operator ’ s recent entry into the Caribbean and Latin America markets .
When selecting markets , said Mue , it is always a good practice to consider a “ hub and spoke ” development approach . Therefore , whenever possible and appropriate , Aqua-Aston will work to leverage existing
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regional / corporate operations and sales and marketing efforts that would assist in maximizing revenues and minimizing costs for owners and developers . In the end , as with all deals — new market or not — connections are critical . As Reardon said , “ The company ’ s north star is always who we partner with and the relationship we have with them .” |
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Hilton Kathmandu in Nepal is now accepting reservations for July 20 , 2024 , and beyond . |
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Reception at the dualbrand Fairfield Inn and Suites Tempe / TownePlace Suites by Marriott Tempe in Arizona , managed by Aqua-Aston Hospitality . |
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16 hotelsmag . com July / August 2024 |