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INTER VIEW
It was the marriage of the Kimpton® creativity with the marketing muscle and reservations systems of IHG® that made choosing Kimpton a very compelling decision for us. Ramsey Mankarious, YC Amsterdam BV
Meet…
Ramsey Mankarious and Phil Golding In January, YC Amsterdam BV signed a management agreement for the first Kimpton® Hotels & Restaurants hotel outside of the US. We caught up with Ramsey Mankarious and Phil Golding to ask why they decided to sign the hotel in Amsterdam, the appeal of Kimpton and the excitement of bringing the brand to Europe.
The hotel is currently a top performing hotel. Why did you decide to reposition it as a Kimpton? Ramsey Mankarious: We believe that the Kimpton brand and all its touch points will lead to a higher performance in addition to a new guest experience in Amsterdam. Phil Golding: We can put this hotel at a premium to where it’s currently trading and create something that the locals will be really proud of. Overall, we see an opportunity within the under-developed lifestyle segment, and that’s where Kimpton excels. What are the demand drivers of this location? RM: There’s strong leisure and corporate demand. A lot of international companies are headquartered in Amsterdam and it is also one of Europe’s most popular leisure destinations. PG: In terms of where the hotel sits in the city, it’s a premier league location. You’re two minutes from the main train station, and within a short distance from the museums, canals, restaurants, and all the business areas. What about this segment do you think works so well? RM: Europe has an established boutique market, but even though Amsterdam is one of the most visited cities in Europe it is under served in terms of lifestyle and boutique hotels. We’re seeing a change however and a number of lifestyle hotels have recently opened and they’re doing very well. What makes Kimpton different? PG: Everyone has their take on it, but our view is that Kimpton is a bit more sophisticated than its European peers. It has longevity. It won’t be a matter of what’s cool today isn’t tomorrow and because the brand has that distinctive style and a hint of rebelliousness, we think it can make a real connection with Amsterdam travellers. RM: Nothing is cookie cutter in this segment but Kimpton definitely has a different personality. We looked at lots of brands in the segment, but felt that Kimpton and IHG® were the right way to go.
Why? What was the particular appeal of Kimpton and IHG? RM: It was the marriage of Kimpton’s creativity with the marketing muscle and reservations systems of IHG that made choosing Kimpton a very compelling decision for us. How does it feel to sign the first Kimpton outside of the US? RM: There’s pressure to set a high standard and that’s actually a positive. People want to see what a European Kimpton will look like and hopefully everyone will be pleased with the result. PG: We don’t want to rush. We’re going to take our time to tender it right, procure it right and plan it right. We have one shot at this. We’re putting in a lot of effort on the design process and of course on the restaurant and bar concepts. Can you tell us anything about the overall design and the restaurant and bar concept? PG: We’re assembling a great team with a fantastic local architect who’s worked on a lot of historical monuments in the city. Today the hotel lacks visibility and kerb appeal, so we want to soften the entrance and make all of the spaces engaging. The restaurant will have its own identity, which is key to the Kimpton brand. RM: Food and beverage is the hardest part of the hotel business to get right. Operating successful neighbourhood restaurants is one of Kimpton’s skill sets and one of the main reasons we decided to go with them. After all, they know that if you create a place where locals want to spend time, hotel guests will also be drawn to it. How does this fit into your portfolio strategy? RM: It fits very well. We like to buy assets and improve underlying performance through renovations and better operational efficiencies. We know and have worked with IHG on many projects. We are now looking forward to infusing that model with an extra layer of creativity and working with the Kimpton team on what will hopefully be the first of many projects that we do together.
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