Yesterday at the Washington Hilton i n DC for our Bisnow Lodging Investment Summit (BLIS for short), Loews Hotels CEO Paul Whetsell, interviewed by Pillsbury's Wendy White, regaled an audience of nearly 600 with funny stories, including one about his first hotel job as a front desk clerk. One day a large, muscle-bound customer without a reservation insisted that Paul find a room for him. Paul was forced to tell this imposing fellow that hotel was overbooked. As a gentleman should, the customer grabbed him by the tie and slammed his head down on the front desk. "Do you have a room now?" he patron asked. Luckily, Paul found a key.
Forget RevPAR--the industry needs a complete rethinking, according to FelCor chairman Tom Corcoran (second from left).Instead, look at EBITDA per room to see if you're making money. A sweet spot: select-service hotels. He was joined byArent Fox partner Kimberly Wachen, Edgewood Investors lodging principal Janet Brashear, Clearview Hotel Capital CIO Tom Naugton, and Hersha Hospitality Trust prez Neil Shah.
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