Hotels

“There is this visual of course, a robot delivering stuff in a hotel and moving around a hotel, which no doubt has Caught everyone's, you know, fancy over the last many years, and it is still yet to be fully rolled out, and I'm sure it will happen.”

“I would certainly bet in favor of eliminating friction and not leaning on the human touch to keep it. I don't think any customer would welcome that.”

“We want to make sure we have a margin of safety from how we're financing ourselves so that if there are short-term shocks, we can ride through that without Being forced to do something that we wouldn't want to do. We have great conviction in a five to 10 year …”

“I think that could probably double one day. I don't know how long that one day is, but for every person who stays in Airbnb, eight or nine stay in a hotel, I think we can get one extra person in an Airbnb eventually. And I think that can get you to two hundred…”

“I don't think we'll ever be a hotel dominant site, but we are going more aggressive into hotels.”

“A fun thing is that about half the hotels in the world are independents and boutiques. They're not chain hotels, and they're not really happy listing on the OTAs because they pay a higher commission than the chains.”

“You could tell the quality of hotel not by the number of stars that it's rated, but by how many guests come back and stay again.”

“However, if I'm looking at a deal I would not do a hotel deal or if somebody came to me and they said, Hey, I've had all the success in multifamily. It's great. I'm looking at a hotel deal. I'd be like, stop. You must have someone on your team that knows hospi…”

“You just, with the hotels, you just, every seven years, you just keep redoing her.”

“Google, for example, stopped that information. God knows I spent enough time trying to get into physical things like shopping or airline purchases or hotels. We didn't really succeed because we didn't have core competence really in some fundamental way beyond …”

“A majority of hotels aspire to have a room inspection program. If you're lucky, you can afford to have a room inspection program.”

“Had I pattern matched and said, oh, hotels is where investors have lost the most money. It's a really hard business. I won't do it. No, someone can out execute somebody else and solve a very complex problem that you may not be able to solve.”

“Hotels aren't businesses. They're real estate with too many parts masquerading as a business.”

“Do you guys know they are negative margin? Which means if I give you a hundred bucks in a hotel you actually don't give me anything back. You cost me another 15 bucks. They have a -15% margin on average.”

“Hotels haven't been disrupted since widely adoption of the TV in like the 19 fifties.”

“We're raising a million seed to roll up 5000 mirrors to hotels.”

“What hotels do after you leave a room, they literally go in, they count how many towels you use, What portion of the meal that you've eaten, they, how much of the soap that you've used, everything, and then they store it, and that's how they've been collecting…”

“A quarter of hotel rooms go empty every single night. And when the hotel room goes empty, that's lost revenue, right? That's revenue that they've lost and they're not going to be able to make that up. So they're willing to sell at lower prices.”

“Most restaurants don't optimize yield. They don't know, like, how do you maximize the right guests in the tables? Like, you know, you think an airline or you think a hotel, they're optimizing yield all the time. Restaurants don't have no ability to do that.”

“I bought this 40 unit small hotel out on the town and I closed it down to the public and remodeled it and created the first private student housing complex for non-destructive testing schools.”

“It turns out that hotels are much easier to monetize than flights. Flights, you're making maybe a few dollars a ticket, whereas hotels usually get a percentage.”

“So you see with the Expedia's of the world, the bookings of the world, they actually make most of their money off hotels where there's a lot more variety and a lot more fragmentation.”

“Every sushi by boo is in a hotel and they go to a hotel and they say, Hey hotel, let's say your lobby is 3000 square feet. See the, see those 250 square feet in the corner of your lobby that right now has a chair and maybe a chess table. Let us build a sushi b…”

“About half of our deals, a little bit more, end up being hotel related. The other half tend to be split across all those other segments.”

“We think there's a really unique opportunity to combine lower entry points for pricing because higher interest rates mean you can't pay as much for something a day. Yet still have this long-term, very favorable consumer outlook. So to us, it's a really good ti…”

“Hotels. Pay 25%. To this day. So if you get a hotel a booking, you as a travel agent, whether you're online, whether you're a physical person, get 25% of the booking”

“The smaller the community, less likely they have a hotel because a hotel only works with density, right? You need a bunch of rooms, you need efficiency, and so people are basically traveling and going to small communities.”

“Don't ever prepay for the rooms. They, sometimes they would want to charge you for the space, just the rental space. So they would say this room would cost 10,000 dollars to rent. Plus you have to spend 50,000 dollars on food and drinks. You tell them instead,…”

“You know, we sell to the hotels and they see like Airbnbs are crushing it in this location. They're like, well, I should go build a new 300 unit hotel in that spot.”

“We have over 3000 hotels that we work with now.”

“And so, hotels have been disrupted now because Airbnb has changed the business model.”

“Hotels would typically pay 15 to 20%.”