NEW YORK — Hotel industry leaders at the NYU International Hospitality Industry Investment Conference emphasized growth, not just from a portfolio standpoint but also in regard to inclusivity and social responsibility.
For Best Western, much of the portfolio growth over the past 11 to 12 years has been organic, according to Larry Cuculic, president and CEO of BWH Hotel Group. The company started as one brand and has grown to 18 brands as it segmented its portfolio.
Many of the company’s developers now are the children or grandchildren of developers who have been in the hotel industry for a long time, Cuculic said. The young developers want to chart their own course and develop hotels they would want to stay at, often boutique and lifestyle hotels.
“They want to be able to show that they can do it and they can really chart a new course with regard to development,” he said.
Best Western has grown through its recognition of both consumer and developer demand for these types of…