THE INTERVIEW
Alan ( l .) and Michael Feurstman are in constant communication , be it family matters , the nitty gritty details of a new deal or to schedule a golf game .
When Michael Fuerstman ’ s caller ID reads “ Alan Fuerstman ,” he has no idea what type of conversation he ’ s about to jump into . It could be about scheduling a golf game , something happening at home , or about the specifics of a business deal . And that ’ s what the father and son team find particularly interesting about wearing multiple hats from a relationship and family business standpoint that has never been forced , seems to only get better and reinforces a great relationship and friendship . No matter what the topic , the duo , often with a snicker , say they always take each other ’ s calls . Yes , it is quite clear by the ease of the dialogue during this interview that the Fuerstmans have a relationship that works – that they both say was meant to be .
Alan , 60 , the founder and CEO of Montage Hotels & Resorts , Irvine , California , and son Michael , 33 , who has taken the lead as co-founder and creative director for the group ’ s second brand , Pendry Hotels , seemingly love talking business , with perhaps the only awkwardness coming when they inadvertently speak over each other . In fact , Michael jokes , “ I still can ’ t believe I even get to speak .”
Of course , the dialogue always sounds easier when Alan can boast a record year of performance across the portfolio , sees steady growth and is just pretty optimistic as he looks at most indicators on both the individual and group sides as “ really strong .”
Montage also took on a partner in January when real estate fund Ares Management made a strategic investment , purchasing a minority stake of up to 20 % in the hotel group and providing up to US $ 200 million in future growth capital .
With this infusion , Pendry is in the spotlight , as the first hotel and residence is set to open in San Diego in December . Michael expects the new luxury lifestyle hotel to be the rate leader in San Diego ’ s Gaslamp District , fetching somewhere around a US $ 400 average rate . A second , 128-room , high-profile project in partnership with Under Armour founder Kevin Plank is set to open in February at Fells Point in Baltimore in a building dating back to 1914 that was considered the “ Ellis Island ” of the city . A third project should be announced shortly , with others in various stages of development . Michael says the more accessible brand
The exterior of the Pendry in
Baltimore at Fells Point , opening in February . The building originally was an entryway into the country for immigrants .
November 2016 hotelsmag . com 39