Boutique hotel pioneer Ian Schrager said he expects boutique and lifestyle hotel companies will be targets for larger companies, like the Marriott Internationals and Hilton Worldwide Holdings of the world, which will in turn fuel greater consolidation in the space. He said it makes sense because the smaller companies can plug into the larger companies’ economies of scale and distribution machines while maintaining their unique experience for guests. “People want an elevated experience,” Schrager said. “They want good rates and good location, but that is not enough. Everybody wants convenience with an elevated experience.” Mike Depatie, managing general partner of KHP Capital Partners and former Kimpton Hotels & Restaurants CEO, said the wave of mergers and acquisitions is a symptom of where the industry is in the cycle. Get the full story at Hotel News Now