Hotel Industry

“Obviously the Brookdales and those would be like seven, 800 facilities or homes, but I would say it is a very long tail industry. So it's not like, it's definitely not like how hotel industry of like, Hey, Marriott or Hilton, two or three have like consolidate…”

“Little kind of, you know, no pun intended, dirty fact about the industry is that only about 55% of rooms get inspected in the hotel industry.”

“Turnover in the hotel industry globally is 80% a year, which means that the average person you meet, the average staff person you meet in the average hotel is on their way to a 16 month career at that hotel chain.”

“I think hotels especially have a fairly regimented salary structure. So if you're coming in at a certain position, I don't think you're going to get significantly more just because you came out of a wonderful school like hers. Probably going to get paid the sa…”

“Management companies, which only own management contracts, want you to build. So if you don't build, they don't get revenue and they don't really care how the asset fares, right? So you would have wild increases in supply, cash flows would crash. This way, whe…”

“And so anytime we tried to do a more variable contract, a pricing negotiation that might take one to two weeks would drag on for one to two or three months.”

“What a lot of people don't realize about the hotel industry today, though, Is that a lot of times the brand is no longer the operator. They've gone so asset light that they no longer, not only do they not own the underlying real estate, they also don't actuall…”