The Future
Danziger is clearly in no doubt that there are opportunities for some of the company’s current portfolio of 15 brands in the Middle East.
And with such a range of different hotel types to keep an eye on, he would be forgiven for taking his eye off the takeover market, but this will not be the case.
“We are in the business of acquiring brands that are complementary and helpful,” asserts Danziger.
| Advertisement |
“If we have every type of product that they (consumers/owners) might want or need and it’s within our company then we are there. If you think about the brands we added in the last six months. TRYP by Wyndham, which is a mid-serviced Mediterranean brand in Spain, Dream and Night, Planet Hollywood, they are all very complementary to the ones which existed before.”
While the acquisition of TRYP raised a number of eyebrows in the hotel community, Danziger says because Wyndham is “a global company, we think global and TRYP was a global opportunity”.
And there are certainly no plans to cap any further acquisitions.
“Could there be others [acquisitions]? Of course, because we are in that business,” he says.
“Some we will acquire in our future, although I’m not reporting anything, some will convert into the existing 15 brands, some might be complementary and be an additional product. That’s our business, acquiring brands and making sure that they fit in the portfolio.”
The other side of the business is finding hotels that will fit into the existing brand portfolio and this brings up Danziger’s move to make a major shift in the company’s development outlook.
“I don’t want our guys who are in the business of growing hotels to spend a lot of time in a remote destination that our consumer generally isn’t going to, because it’s not value to anyone to have one hotel,” he says.
While not wanting to name a specific country, Danziger divulges the company has pulled back developers from destinations where the group could have acquired a hotel.
But the plan is to get multiple properties in destinations rather than piecemeal properties scattered across the globe.
“I would rather go deep in the Middle East for example, than
to say ‘let’s add five new countries that aren’t even around here’, so it’s very focused,” he asserts.
“I think you will see more depth in the markets in areas like here with continued resources — maybe more of a regional office presence as an example — those are the sorts of things that show our commitment to the area.”
Search our database of more than 2,700 industry companies
