Montage International CEO on Luxury Travel Market and Expansion

Luxury Travel Market Performance

• 📈 The luxury travel segment is experiencing significant growth, with Montage International seeing an 8% increase in business over the previous year, outpacing the industry average of 3-4%.
• 🌍 Customers are a mix of leisure and high-end meeting attendees, with a primary base in North America but also a substantial international presence.
• 👨‍👩‍👧‍👦 Demographics include an active clientele with a youthfulness, alongside a strong trend of multigenerational travel, with grandparents bringing multiple generations.

Operational Strategies and Challenges

• 🏨 Montage International operates 15 luxury hotels and resorts under the Montage and Pendry brands, with another 14 in development.
• 💰 While general operating costs haven't been significantly impacted by recent economic policies, labor costs have risen and remain a persistent challenge.
• ✈️ The company relies on H2B and J1 visas to fill seasonal gaps, particularly in ski resort locations, and anticipates continued access to these visas.

Global Expansion and Development

• 🗺️ Montage International is pursuing international growth, with four new projects in development in Mexico, including a Pendry in Mexico City and both Montage and Pendry properties in Punta Mita.
• 📍 Development decisions are based on markets where the company can achieve rates supporting high service levels, avoiding markets with a