Market Watch, March 1, 2017

72 MARKET WATCH MARKETWATCHMAG COM MARCH 2017On Premise InnovatorsEach Thompson property houses a restaurant and bar and many also incorporate lounge spaces and rooftop venues The company is committed to providing dynamic on premise options at each location Whether theyre positioned inside or adjacent to the hotels the restaurants and bars are oper ated separately and maintain their own management and staff This division allows each venue to be viewed as its own distinct brand instead of as an amenity to the hotel The restaurants and bars serve the local community Leon dakis says They connect with the pulse of the neighborhood and become part of its fabric Our hotels arent just destina tions for travelers to sleep but go to spots for locals as well This positioning helps the hotel become an essential part of the neighborhood and broader marketplace It creates energy and life within the hotel and is part of what the boutique life style traveler wants To further connect with their individual neighborhoods Thompson Hotels seeks locally renowned chefs and partners for each venue instead of national names The company works with Tom Colicchio Keith McNally and Andrew Carmellini in Manhattan Erling Wu Bower in Chicago Josh Henderson in Seattle and John Besh and Justin Cameron in Nashville In addition Thompson limits corporate oversight of its restaurants and bars allowing the staff in each market to take ownership of their venues If you try to control the brand experience from thousands of miles away at the corporate headquarters it will never be relevant locally Leondakis adds We hire the best possible talent and empower them to try new things explore ideas and take risks We depend on our local operators the word boutique speaks to the independent spirit at the core of each property more than size or price point Most boutique hotels arent in the luxury segment Thompson Hotels broke that barrier and proved that hotels could be cool urban and sophisticated with a great restaurant and bar scene but they can also be luxury at the same time The Thompson Hotels brand founded in 2001 in New York City includes three properties in Lower Manhattan and single venues in Chicago Seattle and Nashville Tennessee as well as international sites in Canada and Mexico The company has several additional hotels in the works including properties in Los Angeles Dallas San Antonio and Houston Two Roads Hospi tality which was formed in 2016 following the merger of Desti nation Hotels with Commune Hotels owns six brands overall Thompson Hotels Joie de Vivre Hotels Resorts Destination Hotels Alila Hotels Resorts the Chicago Athletic Association Hotel and Tommie which is still in development Thompson is its fastest growing brand even though its one of the smaller port folios Though the company declines to release sales data execu tives say food and drinks make up 40 percent of Thompsons total revenues with the beverage component comprising almost half of that segment We choose designers chefs and brand partners very care fully Leondakis says No two hotels are identical Each property embodies the Thompson lifestyle aesthetic and iconic refined urban edge while showcasing a strong local culture and reflection of its neighborhood We treat guests more like friends staying in our home than travelers in a hotel People become emotionally connected to the brand through this personalized and caring guest experience The companys bars and restaurants offer guests boutique luxury experiences with a focus on urban sophistication The Bar Room at the Beekman Hotel located in Lower Manhattan has an extensive menu of cocktails sipping spirits wine beer and cider