Hyatt CEO Found Homesharing Experiments ‘Challenging’
But Mark Hoplamazian didn’t say Hyatt would never try it out again.
Following news earlier this week that Marriott International, the world's largest hotel company, plans to officially launch a homesharing platform next week, fellow hotel companies have been asked if they would consider the same.
And on Thursday, Hyatt Hotels CEO Mark Hoplamazian, whose company has experimented with homesharing investments previously — first with Onefinestay and then with Oasis — said that Hyatt's experiences were ultimately "challenging" and that those businesses were not "sustainable."
During a conference call with investors to discuss Hyatt's first quarter earnings, Hoplamazian said the following about Hyatt's experiences with Onefinestay and Oasis: "When you're dealing with high-end properties and you try to maintain a level of quality on a consistent basis, the delivery model is expensive and hard to get to a point where you are receiving, from a financial return perspective, a sustainable model."
He also noted the "negative impact" of stricter regulatory environments in a number of markets as a challenge that will continue to "persist."