Lodging Magazine May 2017 : Page 17

GOOD ADVICE 1 MAKI NAKAMURA BARA , PRESIDENT AND CO-FOUNDER OF CHARTRES LODGING GROUP AND CO-CHAIRMAN OF KOKUA HOSPITALITY, HAS THIS ADVICE FOR HOTEL DEVELOPERS. KNOW WHAT YOU ARE GOOD AT. “Rob and I knew the institutional-quality space and decided to stick to what we knew. We’ve learned that our passion and our expertise is now in the value-added space of branding, operations, and the physical space.” KNOW WHAT YOU CANNOT CHANGE. “You can’t change the market or location a property occupies, so we look for things that have those two things covered. Basically, we focus on a property that is broken in a great market or location, because we want to be able to add value there. Every deal that we’ve had has had a renovation.” DON’T LOOK BACK. “Some of the best deals we have ever done are deals that we walked away from. We never think about that, or talk about that, but we do have to remain disciplined.” 3 2 DON’T BET ON THE MARKET. “We are not smart enough to time the market. The market will eventually come back, even if we can’t tell you when. Our job is to create value for these assets regardless of the market lift. The market had to just be a bonus.” 4 “I NEED SOMEONE who makes ordering SUPPLIES EASIER .” PUT THE Our sales experts understand your business and know your brand standards. And with no minimum order* and fast, free delivery†, we make ordering what you need easy—so you can focus on your guests. OF HD SUPPLY TO WORK STRENGTH FOR YOU hdsupplysolutions.com/hospitality *Orders less than $50 are subject to a $10 handling fee. †Within 2 days on most orders to most areas. © 2017 HDS IP Holding, LLC. All Rights Reserved. 17-15215 15215_Lodging_Magazine_ad.indd 1 MAY 2017 LODGINGMAGAZINE.COM 4/19/17 1:46 PM 17

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