Raul is CEO of Virgin Hotels and is responsible for the company’s overall expansion, customer experience and culture. In a career that spans 30 years, Raul has held top management positions for Interstate Hotels, Lane Hotels and the Continental companies and is one of the few hospitality industry executives that understands both the lifestyle and branded hotels segments.
In between 1996 and 2010, Raul was President and Partner at Tecton Hospitality which owned and operated over 35 full branded hotels and was named a “Preferred Hotel Management Company” by most of the major brands. In 2002 he launched Desires Hotels, a management company focused on the growing lifestyle hotel segment. Desires Hotels had 20 award winning modern boutique hotels located in urban and resort locations domestically and internationally. Desires Hotels was named “Best Management Company of the Year” by Lodging Hospitality in 2008 and consistency achieved high levels of RevPAR and profitability as well as social media rankings and owner satisfaction. Raul also serves on the boards of Entrepreneurship and Innovation at Cornell University.
Hotel appraisers and brokers expect distressed assets to come to market as the pandemic recession continues into 2021. Analysts say billions of dollars in private equity are waiting in the wings to acquire hotels underperforming as a result of the coronavirus crisis. But pricing will be different than in previous economic downturns. While a transaction may be distressed, it will not necessarily reflect distress pricing,” said Daniel Lesser of LW Hospitality Advisors. Long Live Lodging explores the state of hotel values as well as what may lie ahead with regard to transactions in 2021 as the spread of COVID-19 continues to stifle lodging performance. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.
Global business travel is a $1.4 trillion industry. The Global Business Travel Association calculates the coronavirus pandemic in 2020 resulted in a loss of $113 billion in business travel spend in hotels, airlines and other sectors of the travel industry. But all is not lost. GBTA, industry analysts and travel management companies see some green shoots of hope for 2021 as the COVID-19 vaccine rolls out and corporations put some of their people on the road again. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.