Search

×

Serial contrarian owner with no complaints

Homi Vazifdar describes himself as a serial contrarian. The co-founder of Canyon Equities, Larkspur, California, which acquires and develops smaller luxury resorts under brands such as Aman, Six Senses and Four Seasons, helped develop and open two luxury resorts during the global economic meltdown. “We defy market characteristics and demand rates in the stratosphere,” said the man who was the co-head of Lodging at Banc of America Securities from 1998 to 2003. “We currently boast some of the highest rates in the United States. We are now developing luxury tents and tented villages and have pegged tent rates at over US$5,000 per night.”

HOTELS asked Vazifdar some questions about his hotelier’s life.

HOTELS: What is the industry ignoring at its peril?

Homi Vazifdar: Cannibalization. There has been sustained and continued growth in the lodging economy, and the “big boys” seem to roll out brands at a rapid-fire pace that are alarmingly similar to their existing stable of brands. When the U.S. economy softens (which it will) and interest rates start inching up, these copycat brands will surely fall prey to cannibalization.

"(2018) will be flat compared to 2017, which by the way, is pretty damn terrific and no one should complain." -- Homi Vazifdar
“(2018) will be flat compared to 2017, which by the way, is pretty damn terrific and no one should complain.” — Homi Vazifdar

H: What’s one prediction you’re willing to make about your discipline in 2018?

HV: It will be flat compared to 2017, which, by the way, is pretty damn terrific and no one should complain.

H: What are you reading right now?

HV: Wall Street Journal, The Economist, Robb Report, HOTELS’ Investment Outlook and various hotel and travel magazines. What I am not reading and watching is more important. I’ve stopped reading the New York Times and watching CNBC because of the constant Trump-bashing, and I’ve stopped watching Fox News because of constant liberal bashing.

H: Describe a typical day.

HV: I wake up every morning at 4:45 a.m. and with my first cup of coffee I create a daily to-do list. Then I’m in the office by 6 a.m., and until 9 a.m. I have “quiet time” or what I typically call my “idea time.” This is when I let my imagination run wild, and I try to be as creative as possible.

H: Who inspires you?

HV: Folks that have created the perfect blend between passion and profit such as George Lucas, Peter Ueberroth and my very good friend, Anil Thadani (chairman, Symphony Asia Holdings Pte. Ltd.).

Comment