How Hotel Conversions Are Driving My Place Growth

Glenn: [00:00:00] Hey, everybody. It’s your hospitality friend Glenn here at the My Place Hotels of America annual conference. Well, not annual every other year conference, but I’m so used to saying annual conferences. What are you going to do? Meanwhile, he’s chief development officer and I’m a classic mess up. How are you? I’m doing great. I’m so excited. Really great to see you. So it’s really fun. You’ve been with these guys for a little while now. You’re really getting to to the feel of things. So I got to ask you what’s trending. What’s trending? Yeah. So look, we’re really excited. You know, if you think about all the proliferation of brands and, you know, did the marketplace need another brand? Probably not. But why this was so interesting is that our franchisees asked for it. You know, they really believe in our approach to the business. They believe in our values. They have had some success across the commercial engine, and they’ve tried to bring us assets that are really conversions. And we’ve kept the discipline around the prototype.

Brian: [00:00:51] And I think that’s really the point, because it would be a bad business decision, honestly, if you didn’t get into it, because conversions are such an important part of the business right now. You all know there are so many contracts that are coming up. Some of the brands are demanding pips owners are being forced to sell. So it’s really driving a real big conversion market. And you guys now have a real good opportunity to be in that conversation, particularly in certain in certain markets.

Glenn: [00:01:18] Absolutely. And we felt we felt we should stratify it. So we’ve got an inn and suites product. We’ve got a hotel product and all suites product there that allows us to really talk to a lot of different folks in the development community. And the other thing is, you know, the guests new construction is great. And I love the discipline that we’ve kept around the prototype. But guests also have put a lot of markets on our radar because they’re demanding those locations, and we can get to those locations quicker by doing the conversion with new construction.

Brian: [00:01:45] Out without messing up what the My Place brand itself stands.

Glenn: [00:01:50] For. Absolutely. Look, we are not going to do anything that damages the prototype. It is what the entire business is built on. And that discipline and the commitment to that business model, and to keep it streamlined and to make sure that the guest is getting the consistency. That’s how that brand wins. But there are guests that will move across the family of brands. And for the reasons we talked about, conversions are an important part of the growth model right now. When you think about some of the headwinds around new construction.

Brian: [00:02:17] Yeah. And like your loyalty program, for example, since the last conference has grown by 75%. Pretty impressive number when you think about it. So a lot of things are really starting to gel for you. Check out my interview with president and CEO Ryan Rivet, where we really talk about that momentum that they’ve formed.

Glenn: [00:02:35] So if you’re having a convention, bring Glenn, because the energy in the hallway where he’s set up is the best.

Brian: [00:02:40] Yeah. Well, thank you so much, everybody. Thank you. Appreciate you guys. Like share, subscribe, all that kind of good stuff. See you next time. Right back here on No Vacancy.