The willingness to hold assets for 10-plus years has helped insulate Noble Investment Group from the up-and-down nature of the hotel investment cycle, said CEO and founder Mit Shah. But he also believes the industry at large needs to make some fundamental changes.
LOS ANGELES—Noble Investment Group CEO and founder Mit Shah believes his company is poised for long-term success, but at the same time, he believes the hotel industry is in need of fundamental change.
Speaking with Hotel News Now at the 2020 Americas Lodging Investment Summit, Shah said being careful about finding the right places to invest, and having the strength of conviction to be a long-term holder of assets, can help insure success even at points of lackluster growth.
“Over 10 years, that's where the specialists win,” Shah said. “If you're trying to get in and out over three to five years, you're going to have lots of different economic factors that come into play and a lot of things that (are) just outside your control.”
But the growing prevalence of brands and an arms race in the war for guest loyalty is causing an increasing rift between the brands and the ownership community, Shah said. That will necessitate an industry-wide reorientation to make sure everyone on both sides of that equation is as successful as possible, he said.