Hoteliers see independents as ‘long-standing’ trend
With growing demand from investors wanting to build unique properties, independent hotels aren't going away anytime soon, according to sources.
Franzen said he isn't worried about soft brands encroaching on independents, either.
Raj Contractor, SVP of investments at Host Hotels & Resorts, said from an institutional perspective "everybody is in the (independent) space and looking at assets that have unique attributes and personalities. Frankly, from a private equity standpoint, it's a lot easier to exit because there's a lot of people out there that … they think they can buy the hotel and do a better job running it," he said.