Masters of Moments #7: Matt Marquis - CEO of Pacifica Hotels - Cultivating the California Hospitality Experience
Matt Marquis was named CEO of Pacifica Hotels after 7 years as the company's President and succeeded his father who founded the organization in 1970. Pacifica is the largest owner and operator of Boutique hotels on the Pacific Coast.
On this episode, Jake and Matt discuss:
- A walkthrough of converting an independent hotel in Hawaii
- Developing Investor Relations
- Growing and evolving a Management Company
- Key to differentiating the hotel experience
Links:
King Kamehameha's Kona Beach Hotel
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Topics:
(00:02:07) - Matt’s career background
(000:07:46) - What did you do within the hotel asset that made you so successful?
(00:08:50- What did you come to be known for?
(00:10:00) - What was so appealing about doing deals in California?
(00:11:24)- How would you describe your portfolio in 2023?
(00:12:51)- Converting an independent hotel
(00:19:46) - Selling an Asset to Blackstone
(00:23:41) - How do you think about taking a profit?
(00:29:33) - What happens when you have a ReFi?
(00:32:57) - Do you readjust your holding patterns when working with Institutional Capital?
(00:36:25) - What have you learned about Investor Relations?
(00:39:52) - Where do you find investors now?
(00:41:07) - What pillars won’t you move on in negotiating with investors?
(00:42:18) - What was it like being managed by Blackstone?
(00:44:52) - What’s the process of creating a Hotel Brand?
(00:50:20) - Is there a certain size hotel where the amenities become challenging?
(00:53:18) - Are there simply too few deals out there?
(00:54:16) - Is it unsettling having all this dry powder on the sidelines?
(00:55:46) - How has your management company evolved over the years?
(00:57:42) - What key things do you focus on to differentiate the hotel experience?
(01:03:18) - How do you think about preparing your business for the next generation?
(01:07:26) - How are you growing the management company?
(01:09:54) - What is your favorite hotel?
(01:14:46) - Where can people find you online?