NEW YORK — PM Hotel Group is setting its sights on growing on the West Coast as the third-party operator looks to bolster its U.S. hotel portfolio following two company mergers in the past five years.
President Joseph Bojanowski said PM Hotel Group's mergers with Modus Hotels and Sightline Hospitality were designed to grow the company's reach in the mountain states out West through California and into Hawaii. PM Hotel Group just opened two new hotels in Hawaii — Hyatt Place Ho'opili and Hyatt House Ho'opili in Oahu — and has "more to come there," Bojanowski said.
"Interestingly, those markets were also counter-cyclical from a revenue perspective to a lot of the stuff we were currently managing in the Mid-Atlantic and through the Northeast, so it's worked out well [and] given lots of opportunities to our high-performing associates and some counter-cyclicality to our revenue streams," he said.
Another area of focus for PM Hotel Group is moving into experiential travel more, he said. The operator is analyzing the trends from millennial and Gen Z travelers so it is prepared to cater to the younger generations when there's "the big transfer of wealth."
PM Hotel Group's two hotels in Moab, Utah, and one hotel in Joshua Tree, California, are destinations that fit the next wave of experiential travel, Bojanowski said. The properties are located near national parks that are prime spots for hiking trails and bike paths.
"We think that's the way the demographics are going; that's the way that that largest segment of traveler wants to travel, and that's where we're gaining expertise and gaining product and aligning with that focus on travel," he said.
For more from PM Hotel Group's Joseph Bojanowski, watch the full video interview above or listen to the podcast below: