Put your bags down and relax—welcome to The Room Key, where we make underwriting sound less like a hostage negotiation. In this episode, Sonia Egyhazy, a hotel development executive at Accor, breaks down how luxury hotel brands evaluate markets, sponsorship, feasibility, and owner–brand alignment—and what separates a deal that gets traction from one that stalls. What you’ll learn in this episode * The first signals that make a brand lean in on a new deal (market strength, demand, and more). * What “bankable sponsorship” means from the brand side (capitalization, track record, bench strength, reputation). * Common owner mistakes that kill momentum early (too broad, too early, no clear plan/site control). * Conversion vs. new build: when conversions make sense and why iconic assets matter in luxury. * The most underestimated development trend: smaller, more flexible mixed-use projects built for operational resilience. * A key underwriting trap: confusing “the market can support it” with “this specific hotel can capture it.”