Do most operating companies provide an appropriate response to the RFP?
Yes, most of the operators have managers focussed on expanding through third party management agreements, so they understand what owners and developers are looking for, and they will put together proposals that respond to particular areas. Most operating companies have development people who are pretty spread out with a regional perspective, so there is a regional developer responsible for the markets we are interested in and would respond to us. So we like to conduct a thorough process with the operators and analyse their strengths and weaknesses to see who can bring the best value to an asset for us. And because assets and locations are unique, some are more appropriate to a particular operator’s style than others. Do you find there is an appropriate level of differentiation between the big players in the hotel management side of things, or are they becoming convergent in their offers to owners? No, I think each one of the operating companies does have its own personality, and each h
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