Preview LODGING Magazine’s recent feature by Editor-in-Chief Kate Hughes, who picked up on the brand’s unique atmosphere during her coverage of the 2019 My Place Convention. Read the complete article here.
In 2019, single-brand hotel companies like My Place Hotels are becoming increasingly rare. Over the past few years, the industry has seen similar brands acquired right and left by hotel industry juggernauts, joining portfolios that sometimes encompass more than 20 brands. While many small companies might be eager to be acquired by a company with more scale, according to My Place CEO Ryan Rivett, an acquisition is not something he would entertain for My Place in the near future. “We’re just getting started,” he told LODGING at the 2019 My Place Convention, which took place April 23-26 in San Diego.
My Place is due to open its 50th property this summer and has a robust pipeline, with 16 properties either under construction or about to begin construction over the next few weeks. Further, the Rivett noted that it had 76 signed franchise agreements as of the convention, up from 45 in 2018. The 2019 Convention, which was held across the street from the 2019 AAHOA Convention, also saw an uptick in attendees, with 250 franchisees, potential franchisees, and other hotel industry professionals attending the conference, which had a very laid back and communal vibe.
This vibe was representative of the culture that My Place’s executives have built around the brand, fostering an environment where owners can easily communicate with brand leadership and each other, bringing concerns to executives and sharing solutions. This culture is also key to the brand’s continuing growth.
“This is fundamental in franchising,” Rivett said.
