Closing in on Hunter Hotel Conference

00:00:01.663 --> 00:00:03.126 I don't know if it's me, but Anthony, 00:00:03.146 --> 00:00:04.288 you've never looked better. 00:00:05.211 --> 00:00:06.573 Why, thank you, Glenn. 00:00:07.275 --> 00:00:07.796 I'm Anthony. 00:00:07.976 --> 00:00:09.298 Welcome to No Vacancy Lives. 00:00:09.618 --> 00:00:10.500 That's my friend Glenn. 00:00:10.660 --> 00:00:11.423 You're watching the number 00:00:11.503 --> 00:00:12.824 one show in hospitality. 00:00:26.481 --> 00:00:27.062 Hey, everybody. 00:00:27.123 --> 00:00:29.085 Welcome to No Vacancy Live. 00:00:29.144 --> 00:00:29.364 All right. 00:00:29.385 --> 00:00:30.025 To be fair, 00:00:30.085 --> 00:00:31.748 we recorded this show an hour 00:00:31.807 --> 00:00:32.990 before we were running it. 00:00:33.049 --> 00:00:34.530 I'm not even sure why we did that. 00:00:34.551 --> 00:00:35.512 I'm Glenn Hausman. 00:00:35.953 --> 00:00:38.295 That is Dr. Producer Suzanne 00:00:38.335 --> 00:00:40.277 Bagnera covering for Anthony, 00:00:40.298 --> 00:00:41.598 who's on assignment today. 00:00:41.658 --> 00:00:42.661 I'm so happy that we're in 00:00:42.701 --> 00:00:44.482 the office and I'm back on 00:00:44.643 --> 00:00:47.006 air doing live shows all week. 00:00:48.393 --> 00:00:49.533 I know. 00:00:49.554 --> 00:00:51.475 I think I sent you a text like, 00:00:51.515 --> 00:00:52.637 look at the camera while 00:00:52.656 --> 00:00:53.557 you were doing click 00:00:54.557 --> 00:00:56.000 because I was not with you. 00:00:56.020 --> 00:00:58.801 And they went unanswered. 00:00:58.881 --> 00:01:01.524 It was not unanswered, Dr. Producer. 00:01:01.784 --> 00:01:03.826 I acknowledged it on air. 00:01:03.847 --> 00:01:05.268 Did you? 00:01:05.408 --> 00:01:06.129 I did, yeah. 00:01:06.168 --> 00:01:07.810 We had a whole conversation about it. 00:01:07.849 --> 00:01:09.512 I'm sorry that you're just 00:01:09.852 --> 00:01:11.873 flaming me and then leaving 00:01:12.194 --> 00:01:13.614 right away without even- 00:01:14.756 --> 00:01:16.477 I myself was at another conference. 00:01:16.578 --> 00:01:18.060 And so I got the alert. 00:01:18.219 --> 00:01:18.859 I'm looking. 00:01:18.879 --> 00:01:20.903 I'm like, I can't do two things at once, 00:01:21.322 --> 00:01:23.906 but I can send a text and go run away. 00:01:23.945 --> 00:01:24.406 Totally. 00:01:24.465 --> 00:01:25.227 Well, you know what? 00:01:25.266 --> 00:01:25.867 You mentioned it. 00:01:25.908 --> 00:01:27.209 We are in conference season. 00:01:27.248 --> 00:01:27.730 Last week, 00:01:27.750 --> 00:01:28.811 we were at our friend Craig 00:01:28.850 --> 00:01:30.132 Sullivan's California 00:01:30.191 --> 00:01:31.573 Lodging Investment Conference. 00:01:31.713 --> 00:01:33.516 What a great event that was. 00:01:33.536 --> 00:01:35.138 I encourage all of you to 00:01:35.418 --> 00:01:36.638 catch all of the coverage 00:01:36.679 --> 00:01:37.379 that we did the week before. 00:01:37.500 --> 00:01:38.060 Before that, 00:01:38.500 --> 00:01:40.501 I was at Remington Hospitality's event. 00:01:40.540 --> 00:01:41.762 The week before that or two 00:01:41.781 --> 00:01:42.302 weeks before that, 00:01:42.322 --> 00:01:43.742 I was at First Hospitality's event. 00:01:43.783 --> 00:01:46.864 It is conference season, I will tell you. 00:01:47.084 --> 00:01:49.144 And remember how great Click was. 00:01:49.204 --> 00:01:50.665 And you know I love that event. 00:01:50.686 --> 00:01:52.486 I'm also super stoked for next week. 00:01:53.126 --> 00:01:55.287 You know, what's going on next week? 00:01:55.347 --> 00:01:55.628 Anything? 00:01:55.908 --> 00:01:56.308 I don't know. 00:01:56.347 --> 00:01:57.808 It's something that I don't 00:01:57.890 --> 00:02:00.010 have the excited pleasure to go, 00:02:00.070 --> 00:02:02.112 so I'm going to be super jealous today, 00:02:02.192 --> 00:02:04.715 but let's go on a hunt. 00:02:04.974 --> 00:02:08.157 I'm excited because not only 00:02:08.197 --> 00:02:09.598 do I get to have Gus's 00:02:09.617 --> 00:02:11.500 Fried Chicken in downtown Atlanta, 00:02:11.819 --> 00:02:12.580 but more importantly, 00:02:12.881 --> 00:02:14.062 I get to go to the Hotel 00:02:14.181 --> 00:02:15.082 Investment Conference, 00:02:15.122 --> 00:02:16.364 and I got with us both 00:02:16.463 --> 00:02:18.305 Teague and Lee Hunter, 00:02:18.905 --> 00:02:20.205 masterminds behind the event. 00:02:20.225 --> 00:02:20.806 Hey, Teague. 00:02:20.847 --> 00:02:21.747 Lee, how are you guys doing? 00:02:21.768 --> 00:02:23.288 Hey, Glenn. 00:02:23.308 --> 00:02:23.348 Hi. 00:02:24.419 --> 00:02:24.900 Hey, Glenn. 00:02:24.919 --> 00:02:25.420 Doing great. 00:02:25.480 --> 00:02:25.841 How about you? 00:02:25.860 --> 00:02:26.602 Hi, Suzanne. 00:02:26.622 --> 00:02:27.282 You look great. 00:02:28.062 --> 00:02:28.604 Oh, thank you. 00:02:28.623 --> 00:02:30.205 I appreciate it. 00:02:30.224 --> 00:02:31.665 Tell Anthony we don't need 00:02:31.725 --> 00:02:32.426 Anthony anymore. 00:02:32.766 --> 00:02:34.609 Yeah. 00:02:34.649 --> 00:02:35.229 We sure don't. 00:02:35.649 --> 00:02:37.431 Gentlemen, I'm so excited. 00:02:37.450 --> 00:02:38.391 Next week, 00:02:38.912 --> 00:02:42.474 35th annual Hunter Hotel 00:02:42.655 --> 00:02:43.795 Investment Conference. 00:02:43.816 --> 00:02:44.477 And I was joking with you 00:02:44.836 --> 00:02:45.698 before we went on air. 00:02:45.717 --> 00:02:47.800 I think up to at least 20 of them, 00:02:47.860 --> 00:02:50.141 maybe more than that. 00:02:50.382 --> 00:02:51.562 It's kind of crazy. 00:02:53.227 --> 00:02:55.268 It's kind of crazy that this is 35 years. 00:02:55.907 --> 00:02:57.127 That doesn't count. 00:02:57.168 --> 00:02:58.367 That just ages all of us. 00:03:01.088 --> 00:03:02.088 Yeah, 00:03:02.109 --> 00:03:04.409 I had a lot less gray hair the first 00:03:04.509 --> 00:03:05.129 ones I went to. 00:03:05.469 --> 00:03:06.790 But what's been amazing 00:03:06.830 --> 00:03:08.911 about that event is I really saw it. 00:03:08.971 --> 00:03:11.092 It started out as kind of a niche, 00:03:11.252 --> 00:03:13.913 southeastern kind of an event. 00:03:13.973 --> 00:03:15.592 And then over my years, 00:03:15.673 --> 00:03:17.193 I noticed it started to 00:03:17.294 --> 00:03:18.813 spread out and out. 00:03:18.933 --> 00:03:21.115 And while it's still not a 00:03:21.175 --> 00:03:22.534 national national event, 00:03:23.155 --> 00:03:24.716 It really is, at this point, 00:03:24.917 --> 00:03:26.957 a national hotel conference 00:03:26.997 --> 00:03:27.979 and one of the major ones 00:03:27.998 --> 00:03:30.561 that I like to attend every single year. 00:03:30.621 --> 00:03:31.882 So before I let you speak, 00:03:32.361 --> 00:03:33.242 let me just say I'm looking 00:03:33.263 --> 00:03:34.723 forward to being there next week. 00:03:35.185 --> 00:03:37.026 Join us there. 00:03:37.406 --> 00:03:39.807 Please, it's next Tuesday, Wednesday, 00:03:39.968 --> 00:03:41.669 and Thursday of next week, 00:03:41.689 --> 00:03:42.229 starting on the 18th. 00:03:43.531 --> 00:03:44.992 Monday the 18th is registration, 00:03:45.032 --> 00:03:45.853 all that kind of stuff. 00:03:45.872 --> 00:03:47.534 Check in Tuesday, Wednesday, Thursday. 00:03:47.875 --> 00:03:49.355 Guys, how's it shaping up? 00:03:49.735 --> 00:03:49.937 Lee, 00:03:49.977 --> 00:03:51.758 you looking forward to this year's event? 00:03:51.818 --> 00:03:54.300 What's the overall synopsis 00:03:54.400 --> 00:03:55.401 of what's going on there? 00:03:55.801 --> 00:03:56.741 Yeah, Glenn, 00:03:56.801 --> 00:03:57.943 we're really looking forward 00:03:58.022 --> 00:03:59.465 to the event this year. 00:03:59.485 --> 00:04:00.504 The team has done a great 00:04:00.564 --> 00:04:02.907 job of putting together an 00:04:03.788 --> 00:04:04.889 array of speakers. 00:04:05.530 --> 00:04:07.591 We got a lot of new faces this year. 00:04:08.632 --> 00:04:09.752 I think we've got over 50%. 00:04:11.692 --> 00:04:12.993 from a diversity perspective. 00:04:13.074 --> 00:04:14.074 So that's really good. 00:04:14.134 --> 00:04:16.737 But our theme is no, no limits, 00:04:17.598 --> 00:04:18.819 which is a call to action, 00:04:18.858 --> 00:04:20.721 get everybody excited moving forward. 00:04:20.800 --> 00:04:22.781 So we're really looking forward to it. 00:04:22.841 --> 00:04:24.423 We're pacing well ahead of 00:04:24.463 --> 00:04:25.725 where we were last year at 00:04:25.745 --> 00:04:26.466 this point in time. 00:04:26.985 --> 00:04:28.026 And last year we had over 00:04:28.026 --> 00:04:29.608 2000 people in attendance. 00:04:30.149 --> 00:04:31.651 So we're certainly expecting 00:04:33.012 --> 00:04:34.613 to surpass that number this year. 00:04:35.355 --> 00:04:38.398 Registration does close on Thursday. 00:04:38.418 --> 00:04:40.680 And once that closes Thursday, 00:04:41.120 --> 00:04:43.622 everything moves to on-site registration. 00:04:43.642 --> 00:04:44.564 So pricing will change. 00:04:44.803 --> 00:04:45.865 You can still register for 00:04:45.884 --> 00:04:47.225 the conference after Thursday, 00:04:47.867 --> 00:04:48.867 but Thursday is the last 00:04:49.228 --> 00:04:50.269 opportunity you'll have to 00:04:50.309 --> 00:04:50.910 do that online. 00:04:51.353 --> 00:04:52.593 It's amazing to me how many 00:04:52.653 --> 00:04:56.314 people still show up day of conference. 00:04:56.375 --> 00:04:56.634 I mean, 00:04:56.795 --> 00:04:58.154 I've had my flight booked for like 00:04:58.295 --> 00:05:01.315 three months already, you know? 00:05:01.836 --> 00:05:02.336 You know, Glenn, 00:05:02.355 --> 00:05:02.995 that's sort of a number 00:05:03.036 --> 00:05:05.656 that we track and we'll be, you know, 00:05:06.057 --> 00:05:07.637 plus or minus 100 people. 00:05:08.478 --> 00:05:11.538 If it holds true, you know, year over year, 00:05:11.577 --> 00:05:12.697 we're always plus or minus 00:05:12.697 --> 00:05:13.879 100 people that actually 00:05:14.319 --> 00:05:15.858 register for the conference 00:05:16.178 --> 00:05:19.019 on site when they arrive either, you know, 00:05:19.060 --> 00:05:20.519 Monday afternoon or Tuesday morning. 00:05:21.209 --> 00:05:22.610 God bless people who could 00:05:22.629 --> 00:05:23.790 handle that kind of 00:05:23.810 --> 00:05:25.410 flexibility in their lifestyle. 00:05:25.790 --> 00:05:27.810 Teague, you know, it's one week out. 00:05:27.831 --> 00:05:28.651 This is when everybody's 00:05:28.670 --> 00:05:29.911 kind of getting crazy. 00:05:29.932 --> 00:05:32.392 So what are you looking 00:05:32.473 --> 00:05:34.213 forward to most about 00:05:34.233 --> 00:05:35.533 getting everybody together 00:05:35.673 --> 00:05:39.514 for our pre-spring hospitality checkup? 00:05:40.105 --> 00:05:40.406 I mean, 00:05:40.846 --> 00:05:42.908 it's chaos around the office right now. 00:05:44.209 --> 00:05:45.831 I'm looking forward to that being over. 00:05:47.072 --> 00:05:48.454 But come on, you know, 00:05:48.473 --> 00:05:49.295 I'm a people person. 00:05:49.355 --> 00:05:50.235 I love getting these 00:05:50.276 --> 00:05:51.797 conversations with everybody together. 00:05:51.836 --> 00:05:53.358 Let's get together, see each other, 00:05:53.459 --> 00:05:54.338 give a bunch of hugs to a 00:05:54.379 --> 00:05:56.240 friend you haven't seen in a while. 00:05:56.581 --> 00:05:58.562 And I don't know, talk about business, 00:05:58.603 --> 00:05:58.963 I guess. 00:05:59.103 --> 00:06:00.045 Try and get some deals done. 00:06:00.807 --> 00:06:01.307 Yeah, you know, 00:06:01.326 --> 00:06:02.547 it's funny you say try to 00:06:02.567 --> 00:06:03.447 talk about business because 00:06:03.487 --> 00:06:04.088 one of the things that I 00:06:04.127 --> 00:06:05.427 like about this event is 00:06:05.567 --> 00:06:07.567 it's more casual and laid back. 00:06:07.648 --> 00:06:08.588 And I don't mean to imply 00:06:08.627 --> 00:06:09.488 it's not serious. 00:06:09.548 --> 00:06:10.949 What I mean is that the 00:06:11.389 --> 00:06:13.129 atmosphere is one of such 00:06:13.209 --> 00:06:15.009 that it's easy to approach people. 00:06:15.389 --> 00:06:16.449 It's great to have some 00:06:16.550 --> 00:06:17.910 conversations with people 00:06:18.490 --> 00:06:19.449 and that it's all 00:06:19.589 --> 00:06:20.911 self-contained within the 00:06:20.990 --> 00:06:22.930 Atlanta Marriott marquee is 00:06:22.971 --> 00:06:26.071 a great way to keep the group together. 00:06:26.130 --> 00:06:26.552 Suzanne, 00:06:26.572 --> 00:06:28.891 I feel like we're ignoring you over here. 00:06:30.035 --> 00:06:31.036 No, that's a great property. 00:06:31.076 --> 00:06:32.375 I've had the pleasure of staying there, 00:06:32.435 --> 00:06:33.615 just not going to the conference. 00:06:33.675 --> 00:06:35.836 And so I think when events 00:06:35.937 --> 00:06:37.838 are able to be self-contained that way, 00:06:37.997 --> 00:06:39.137 it does lead to better 00:06:39.177 --> 00:06:40.918 relationship building and networking. 00:06:41.019 --> 00:06:41.858 And for me, 00:06:41.918 --> 00:06:43.139 that's always one of the best 00:06:43.199 --> 00:06:44.600 parts of going to conferences. 00:06:44.680 --> 00:06:45.779 So it's great to hear that 00:06:46.141 --> 00:06:47.581 that's the type of environment. 00:06:47.620 --> 00:06:49.322 So for those last 100 people 00:06:49.341 --> 00:06:50.382 that haven't registered, 00:06:50.781 --> 00:06:53.502 make it happen and get in on that. 00:06:54.464 --> 00:06:55.665 Yeah, for sure. 00:06:56.005 --> 00:06:57.026 And always, 00:06:57.387 --> 00:06:58.807 besides the fact of people 00:06:58.827 --> 00:07:00.408 doing deals in the hallway and all that, 00:07:00.449 --> 00:07:03.331 you've got a great lineup as always. 00:07:03.810 --> 00:07:05.232 Man, big coups. 00:07:05.252 --> 00:07:07.072 You got Tony Capuano, 00:07:07.153 --> 00:07:09.035 the big chief from Marriott, 00:07:09.074 --> 00:07:10.656 coming in to do a fireside chat, 00:07:10.815 --> 00:07:12.016 as well as, of course, 00:07:12.036 --> 00:07:13.877 Atlanta-based Ed Bastian, 00:07:14.517 --> 00:07:16.800 CEO of Delta Airlines. 00:07:16.860 --> 00:07:18.321 I feel like Ed and I are 00:07:18.360 --> 00:07:19.682 really great friends 00:07:20.221 --> 00:07:21.403 because I spend so much 00:07:21.463 --> 00:07:22.863 time with him and his team. 00:07:24.884 --> 00:07:25.185 Sorry, 00:07:25.225 --> 00:07:30.988 I don't know why my soundboard just 00:07:31.369 --> 00:07:32.569 did that. 00:07:33.069 --> 00:07:33.509 Yeah, Teague, 00:07:33.529 --> 00:07:37.372 I'm almost at 1.3 million with Delta now. 00:07:37.413 --> 00:07:38.793 And I've been like, you know, 00:07:38.853 --> 00:07:40.134 watching it climb and I'm 00:07:40.153 --> 00:07:41.334 getting very excited. 00:07:41.535 --> 00:07:43.456 And my biggest regret is not 00:07:43.475 --> 00:07:44.956 starting flying with them until 2007, 00:07:44.956 --> 00:07:48.319 you know, but what are you going to do? 00:07:48.439 --> 00:07:49.079 So Teague, 00:07:49.459 --> 00:07:51.461 We'll get you a autograph from Ed Bastian. 00:07:51.982 --> 00:07:52.822 Thank you. 00:07:53.043 --> 00:07:53.884 I would love that. 00:07:53.903 --> 00:07:54.785 It'll go right next to the 00:07:54.865 --> 00:07:57.146 one that I got with Goober 00:07:57.206 --> 00:07:58.528 from the Andy Griffith show. 00:07:59.569 --> 00:08:00.870 I actually met him when a 00:08:01.310 --> 00:08:02.531 major hotel brand tried to 00:08:02.571 --> 00:08:05.553 do these small little 50-room hotels, 00:08:05.834 --> 00:08:07.536 and he was the celebrity 00:08:07.696 --> 00:08:09.757 person who did the opening event there. 00:08:09.798 --> 00:08:12.319 So I'm excited about Teague, though. 00:08:13.940 --> 00:08:14.882 Tell us a little bit about 00:08:14.942 --> 00:08:15.642 what else people could 00:08:15.702 --> 00:08:16.944 expect at the event. 00:08:17.728 --> 00:08:18.869 I mean, again, 00:08:18.908 --> 00:08:20.389 Fireside Jam at Bastion and 00:08:20.449 --> 00:08:23.230 Tony Capuano owes a mentalist, 00:08:23.672 --> 00:08:24.932 which is going to be exciting. 00:08:25.112 --> 00:08:26.312 That'll keep everybody on their toes. 00:08:26.774 --> 00:08:27.314 But listen, 00:08:27.334 --> 00:08:28.935 we've always been known for the 00:08:28.975 --> 00:08:30.036 conference where deals get done. 00:08:30.175 --> 00:08:30.956 That's not a secret. 00:08:31.377 --> 00:08:32.537 All the brand guys say it. 00:08:32.596 --> 00:08:34.698 All the hotel owners say it. 00:08:35.158 --> 00:08:36.919 So we're going to see what 00:08:36.940 --> 00:08:38.900 deals we can get done at the conference. 00:08:38.961 --> 00:08:39.481 I'm feeling it. 00:08:39.522 --> 00:08:40.621 I think it's going to be very active. 00:08:41.503 --> 00:08:42.442 That's awesome. 00:08:42.462 --> 00:08:42.984 What about you, Lee? 00:08:43.965 --> 00:08:44.284 Yeah, no, 00:08:44.325 --> 00:08:46.485 I would second what Teague just said. 00:08:46.566 --> 00:08:48.307 All our brand guys will tell 00:08:48.346 --> 00:08:50.268 you they get more deals 00:08:50.307 --> 00:08:52.149 done here at Hunter than 00:08:52.168 --> 00:08:54.250 they do at Alice NYU Lodging, 00:08:54.289 --> 00:08:55.191 and they'll tell you that. 00:08:55.691 --> 00:08:56.931 And this year, like I alluded to earlier, 00:09:00.489 --> 00:09:00.688 You know, 00:09:00.808 --> 00:09:02.210 we've sort of restructured the 00:09:02.289 --> 00:09:03.811 programming to allow for 00:09:03.850 --> 00:09:04.572 more networking 00:09:04.652 --> 00:09:06.072 opportunities and more time 00:09:06.153 --> 00:09:08.134 for for people to get deals done. 00:09:08.595 --> 00:09:11.236 So and have meetings and and we'll see. 00:09:11.376 --> 00:09:11.996 Like I said, 00:09:12.017 --> 00:09:14.198 we anticipated being very 00:09:14.318 --> 00:09:15.339 active conference, you know, 00:09:15.399 --> 00:09:17.221 not only in the sessions, 00:09:17.301 --> 00:09:18.201 but also outside the 00:09:18.260 --> 00:09:19.062 sessions in the hallways. 00:09:19.101 --> 00:09:20.062 Yeah. 00:09:20.222 --> 00:09:20.982 And thank you for putting 00:09:21.043 --> 00:09:21.783 out all of the snacks 00:09:21.803 --> 00:09:23.325 throughout the day outside the sessions. 00:09:23.345 --> 00:09:25.245 It makes it a lot easier to 00:09:25.265 --> 00:09:26.126 get things done. 00:09:26.206 --> 00:09:26.966 It looks like you're ready 00:09:27.008 --> 00:09:27.548 to say something. 00:09:28.068 --> 00:09:29.429 Yeah, I was just thinking, 00:09:29.450 --> 00:09:30.769 and we're giving our award this year. 00:09:30.789 --> 00:09:32.051 We're giving it to Bob Hunter. 00:09:32.150 --> 00:09:34.272 I was just going to lead into it. 00:09:34.371 --> 00:09:35.072 It's so great. 00:09:35.111 --> 00:09:37.932 So let me set that up so you 00:09:37.952 --> 00:09:39.634 guys don't have to seem so self-serving. 00:09:39.693 --> 00:09:42.375 So I'm really excited because this year, 00:09:42.394 --> 00:09:43.134 everybody's going to be 00:09:43.254 --> 00:09:46.976 able to really honor Bob Hunter. 00:09:46.996 --> 00:09:47.937 He's the founder, of course, 00:09:47.976 --> 00:09:49.317 of Hunter Hotel Advisors 00:09:49.638 --> 00:09:51.339 and of the conference, 00:09:51.739 --> 00:09:53.940 the Hunter Hotel Investment Conference. 00:09:54.120 --> 00:09:54.240 And 00:09:55.000 --> 00:09:55.660 He's always been an 00:09:55.801 --> 00:09:56.880 incredible human being. 00:09:56.921 --> 00:09:58.523 And I remember getting the 00:09:58.562 --> 00:09:59.864 chance to do podcasting 00:09:59.903 --> 00:10:01.664 with him back when I first 00:10:01.825 --> 00:10:02.565 started with it. 00:10:02.605 --> 00:10:05.027 I'm going back like a dozen years now. 00:10:05.126 --> 00:10:06.548 And although he didn't 00:10:06.567 --> 00:10:07.629 really know what to make of it, 00:10:07.989 --> 00:10:10.870 he totally got into it and enjoyed it. 00:10:10.890 --> 00:10:11.631 And ever since then, 00:10:11.692 --> 00:10:12.472 I felt like I really 00:10:12.513 --> 00:10:13.874 connected with him in a 00:10:13.933 --> 00:10:14.774 kind of deeper way. 00:10:15.114 --> 00:10:16.956 And I saw why he was able to 00:10:17.015 --> 00:10:18.777 build such a successful business. 00:10:18.836 --> 00:10:20.938 So congratulations on 00:10:20.979 --> 00:10:22.559 finally having the right opportunity to, 00:10:23.801 --> 00:10:24.000 you know, 00:10:24.501 --> 00:10:25.464 to celebrate such an 00:10:25.484 --> 00:10:26.765 incredible man who might 00:10:26.787 --> 00:10:28.910 just happen to be your dad as well. 00:10:30.196 --> 00:10:30.995 We're a little biased. 00:10:31.596 --> 00:10:32.277 Yeah. 00:10:32.716 --> 00:10:35.078 Was it weird picking him to do it? 00:10:35.578 --> 00:10:36.220 I'll let Lee tell you, 00:10:36.240 --> 00:10:37.120 but it wasn't our idea. 00:10:37.139 --> 00:10:38.260 And he said no for years. 00:10:39.360 --> 00:10:40.522 They finally twisted his arm 00:10:40.542 --> 00:10:41.363 enough that he said yes. 00:10:41.383 --> 00:10:42.222 And I'm ecstatic because 00:10:42.263 --> 00:10:43.124 he's unbelievable. 00:10:43.144 --> 00:10:43.724 He's our father. 00:10:43.764 --> 00:10:44.203 I'm biased. 00:10:44.264 --> 00:10:45.365 But he did this. 00:10:45.565 --> 00:10:46.446 He put this thing together. 00:10:46.485 --> 00:10:47.446 This is a heck of an event. 00:10:47.485 --> 00:10:49.047 He worked his tail off for a lot of years, 00:10:50.148 --> 00:10:51.589 sacrificing and putting this out there. 00:10:51.629 --> 00:10:53.429 So it's going to be great. 00:10:53.470 --> 00:10:54.769 It's going to be a tearjerker, 00:10:55.331 --> 00:10:55.931 I have a feeling. 00:10:56.110 --> 00:10:56.932 But it's going to be great. 00:10:57.912 --> 00:10:58.393 I bet. 00:10:58.712 --> 00:10:59.374 It's a good thing I'm 00:10:59.413 --> 00:11:00.914 working with a new company 00:11:00.955 --> 00:11:02.655 that does tissues. 00:11:02.836 --> 00:11:03.496 So I'm going to bring some 00:11:03.517 --> 00:11:04.557 of those with me. 00:11:04.597 --> 00:11:04.817 Lee? 00:11:05.399 --> 00:11:05.859 Yeah, no. 00:11:06.158 --> 00:11:07.360 As Teague alluded to, 00:11:07.440 --> 00:11:08.620 this wasn't a Lee and 00:11:08.682 --> 00:11:09.761 Teague Hunter decision. 00:11:09.822 --> 00:11:12.784 On our advisory board, 00:11:12.825 --> 00:11:15.827 we have a subcommittee for 00:11:16.327 --> 00:11:17.288 the conference award. 00:11:17.568 --> 00:11:19.410 And Teague and I are not a 00:11:19.451 --> 00:11:20.631 part of that subcommittee. 00:11:21.072 --> 00:11:21.572 So this was... 00:11:22.865 --> 00:11:23.405 an award. 00:11:23.926 --> 00:11:25.647 The committee chose Bob, 00:11:25.706 --> 00:11:26.508 as Teague alluded to. 00:11:26.888 --> 00:11:28.948 They've wanted to choose Bob 00:11:28.989 --> 00:11:30.309 for the last several years now, 00:11:30.389 --> 00:11:30.971 and Bob has, 00:11:30.990 --> 00:11:35.033 I don't want to say declined the award, 00:11:35.094 --> 00:11:37.514 but for Bob, this is not about him, 00:11:37.575 --> 00:11:37.774 right? 00:11:37.794 --> 00:11:39.976 He didn't start this 00:11:40.017 --> 00:11:41.357 conference to be about him. 00:11:41.618 --> 00:11:42.778 He started it to be about 00:11:42.818 --> 00:11:44.279 the industry and for the industry. 00:11:44.995 --> 00:11:46.177 And so it's sort of the same 00:11:46.197 --> 00:11:47.259 reaction with the award. 00:11:48.100 --> 00:11:50.582 But this year, the committee members were, 00:11:51.365 --> 00:11:51.884 dare I say, 00:11:52.046 --> 00:11:54.349 adamant with it being the 35th 00:11:55.129 --> 00:11:56.572 year that he accepted. 00:11:56.672 --> 00:11:59.096 And we had committee members 00:11:59.196 --> 00:12:00.278 fly into Atlanta 00:12:00.798 --> 00:12:03.859 to meet with Bob and more or 00:12:03.879 --> 00:12:06.519 less force him to accept the award. 00:12:07.000 --> 00:12:07.299 Good. 00:12:07.320 --> 00:12:10.900 We're proud. 00:12:11.441 --> 00:12:13.981 I love that you folks didn't 00:12:14.361 --> 00:12:15.381 want to make it happen 00:12:15.461 --> 00:12:17.081 because it's such a great 00:12:17.121 --> 00:12:18.043 testament to everything 00:12:18.062 --> 00:12:19.663 that he's achieved that the 00:12:19.763 --> 00:12:20.523 folks that are on your 00:12:20.543 --> 00:12:23.403 advisory board demanded that it happen. 00:12:23.884 --> 00:12:25.284 So I can't wait to see him 00:12:25.325 --> 00:12:27.307 and congratulate him in person. 00:12:27.346 --> 00:12:29.727 Also, shameless plug for me. 00:12:29.748 --> 00:12:34.171 I will be hosting a panel at 00:12:34.171 --> 00:12:36.673 1115 next Wednesday on the 00:12:36.732 --> 00:12:39.134 brands and owners coming together. 00:12:39.294 --> 00:12:40.816 I'm really excited on that 00:12:40.855 --> 00:12:41.816 particular panel because 00:12:41.855 --> 00:12:43.918 I've got Shruti Gandhi 00:12:43.957 --> 00:12:46.178 Buckley with Hilton, Matt Marquis, 00:12:46.219 --> 00:12:48.841 CEO of Pacifica Hotels, Dupree Scovel, 00:12:48.880 --> 00:12:50.902 Jim Tierney, Todd Turner. 00:12:51.363 --> 00:12:51.842 Dang, man. 00:12:52.110 --> 00:12:53.250 Great panel, guys. 00:12:53.270 --> 00:12:54.571 That's probably true, Glenn. 00:12:55.172 --> 00:12:55.451 I know. 00:12:55.831 --> 00:12:56.633 And they're all people that 00:12:56.653 --> 00:12:57.953 are right up my alley, too. 00:12:58.033 --> 00:13:00.054 So that's going to be out of control. 00:13:00.115 --> 00:13:01.034 The other cool thing that 00:13:01.075 --> 00:13:04.116 I'm participating in is the table. 00:13:05.337 --> 00:13:06.558 I love this idea. 00:13:06.599 --> 00:13:07.960 You started it last year. 00:13:07.980 --> 00:13:08.919 Why don't you guys share a 00:13:08.960 --> 00:13:10.221 little bit about what that 00:13:10.441 --> 00:13:11.542 is and why it's so 00:13:11.942 --> 00:13:13.562 important to the future of hospitality? 00:13:14.417 --> 00:13:16.658 Yeah, the table has grown. 00:13:16.678 --> 00:13:17.460 You know, 00:13:17.500 --> 00:13:19.321 it started with the Castell 00:13:19.360 --> 00:13:22.123 Project a few years ago and 00:13:22.163 --> 00:13:23.764 has grown and turned into 00:13:23.804 --> 00:13:25.046 what we're now calling the table. 00:13:25.086 --> 00:13:27.847 And it's the reason for the table is, hey, 00:13:27.947 --> 00:13:29.909 it's come have a seat at 00:13:29.990 --> 00:13:31.571 the table and learn and 00:13:31.610 --> 00:13:32.751 grow your careers. 00:13:33.773 --> 00:13:33.993 Again, 00:13:34.033 --> 00:13:36.294 it grew out of the Castell Project 00:13:37.076 --> 00:13:37.817 with Peggy Berg. 00:13:38.947 --> 00:13:39.589 And as now, you know, 00:13:39.609 --> 00:13:41.289 we'll have 25 roundtables 00:13:41.691 --> 00:13:44.232 with moderators such as yourself, 00:13:44.832 --> 00:13:45.114 you know, 00:13:45.214 --> 00:13:48.015 attending and moderating these panels. 00:13:48.216 --> 00:13:50.278 And again, it's a roundtable discussion on, 00:13:50.658 --> 00:13:50.859 you know, 00:13:50.899 --> 00:13:52.440 how to grow your career and what 00:13:52.500 --> 00:13:53.740 you do in your career and 00:13:54.261 --> 00:13:56.163 just a discussion amongst, you know, 00:13:56.202 --> 00:13:56.823 industry peers. 00:13:57.725 --> 00:13:59.947 Suzanne, let me get you back in here. 00:14:00.727 --> 00:14:01.008 Yeah, 00:14:01.048 --> 00:14:03.389 so I would say great opportunity to 00:14:03.448 --> 00:14:04.749 hear that that's happening 00:14:04.869 --> 00:14:05.750 and being a spinoff. 00:14:05.809 --> 00:14:07.309 I love seeing how Peggy's 00:14:07.389 --> 00:14:08.370 program with Castell 00:14:08.389 --> 00:14:09.451 Project has really started 00:14:09.471 --> 00:14:11.772 to infiltrate our entire 00:14:11.892 --> 00:14:13.371 industry and that you all 00:14:13.432 --> 00:14:14.572 are leveraging those 00:14:14.633 --> 00:14:16.653 components from a career standpoint. 00:14:17.613 --> 00:14:19.234 Myself being in the field of 00:14:19.313 --> 00:14:20.614 higher education and really 00:14:20.653 --> 00:14:21.975 trying to get students and 00:14:22.034 --> 00:14:23.095 new entrants into our 00:14:23.174 --> 00:14:25.216 industry excited about what we have. 00:14:25.850 --> 00:14:27.873 that is an amazing way to 00:14:27.932 --> 00:14:29.033 continue to leverage and 00:14:29.053 --> 00:14:30.254 tap into all the knowledge 00:14:30.293 --> 00:14:31.375 of folks that are right there. 00:14:31.455 --> 00:14:32.076 So that's great. 00:14:32.515 --> 00:14:32.676 Now, 00:14:32.796 --> 00:14:35.317 what I want to hear about in knowing 00:14:35.378 --> 00:14:38.181 that now this is your 35th conference, 00:14:38.841 --> 00:14:40.001 can you take us with a 00:14:40.042 --> 00:14:41.462 little step backwards to 00:14:41.503 --> 00:14:42.943 get to where you are now? 00:14:43.544 --> 00:14:44.785 What are some of the things 00:14:44.865 --> 00:14:48.869 that you've changed or infiltrated or, 00:14:48.889 --> 00:14:49.269 you know, 00:14:51.225 --> 00:14:53.696 gotten excited about the past, 00:14:53.777 --> 00:14:54.921 the coming together with 00:14:54.961 --> 00:14:55.624 where you're at now. 00:14:57.975 --> 00:14:58.715 Oh, you know, 00:14:58.875 --> 00:15:01.197 I think our growth is the exciting thing. 00:15:01.216 --> 00:15:03.118 You know, we always, you know, 00:15:03.158 --> 00:15:04.677 Bob from day one wanted 00:15:04.717 --> 00:15:07.679 this to conference to be owner focused, 00:15:08.080 --> 00:15:09.480 focused on the owner, 00:15:09.541 --> 00:15:11.601 the investor of the asset. 00:15:12.121 --> 00:15:14.383 And his mindset was if we have the owner, 00:15:14.462 --> 00:15:16.403 the investor in attendance, 00:15:16.724 --> 00:15:17.724 then everyone else who 00:15:17.764 --> 00:15:19.705 wants to do business with that owner, 00:15:19.745 --> 00:15:22.067 that investor will be in attendance also. 00:15:22.746 --> 00:15:24.707 And so as we we keep that 00:15:25.408 --> 00:15:27.729 owner focus in mind with everything we do, 00:15:27.769 --> 00:15:29.610 with panels that we have, 00:15:29.671 --> 00:15:30.990 with speakers that we have. 00:15:31.211 --> 00:15:33.952 It's, hey, is this something an owner, 00:15:34.173 --> 00:15:36.173 investor in the asset wants 00:15:36.214 --> 00:15:36.793 to hear about? 00:15:36.913 --> 00:15:38.434 Is this a person, the owner, 00:15:38.855 --> 00:15:39.975 the investor in the asset 00:15:40.056 --> 00:15:40.777 wants to hear about? 00:15:41.136 --> 00:15:43.217 And so we keep that person in focus. 00:15:43.238 --> 00:15:45.038 And if we keep that person in focus, again, 00:15:45.999 --> 00:15:46.919 brands will show up, 00:15:47.299 --> 00:15:48.301 attorneys will show up, 00:15:48.380 --> 00:15:49.301 lenders will show up, 00:15:49.400 --> 00:15:50.461 architects will show up, 00:15:50.861 --> 00:15:52.302 management companies will show up. 00:15:52.965 --> 00:15:53.626 And I think we've done a 00:15:53.647 --> 00:15:55.009 very good job of doing that 00:15:55.649 --> 00:15:57.673 over the years and just 00:15:57.693 --> 00:15:58.414 being focused and 00:15:58.434 --> 00:16:00.158 maintaining the focus on 00:16:00.678 --> 00:16:01.600 the owner of the asset. 00:16:02.844 --> 00:16:03.923 I think I'll chime in Suzanne. 00:16:03.964 --> 00:16:05.085 I also think the, 00:16:05.164 --> 00:16:06.004 and I mean this sincerely, 00:16:06.044 --> 00:16:07.044 the diversity of the 00:16:07.085 --> 00:16:09.306 speakers this year is very impressive. 00:16:09.686 --> 00:16:11.586 And what I'm really behind the scenes, 00:16:11.966 --> 00:16:12.885 the team was really focused 00:16:12.905 --> 00:16:15.006 on getting fresh new faces up there. 00:16:15.106 --> 00:16:16.527 Cause you know, we've been talking, 00:16:16.567 --> 00:16:17.687 we all know the same people 00:16:18.067 --> 00:16:19.648 and in getting fresh new faces, 00:16:19.827 --> 00:16:20.967 it just organically turned 00:16:21.087 --> 00:16:23.009 out that we're over 50% 00:16:23.009 --> 00:16:24.168 diverse on our panels. 00:16:24.528 --> 00:16:27.129 And I think that's a sign of our industry. 00:16:27.590 --> 00:16:28.610 And that's, it's not just us. 00:16:28.690 --> 00:16:30.049 It's a sign of the industry 00:16:30.530 --> 00:16:31.571 coming about and we should 00:16:31.591 --> 00:16:32.311 all be proud of that. 00:16:33.158 --> 00:16:34.438 Yeah, we should be. 00:16:34.799 --> 00:16:36.841 And it must be difficult for 00:16:37.261 --> 00:16:38.322 you folks because you want 00:16:38.342 --> 00:16:39.663 to present the people with 00:16:39.683 --> 00:16:41.245 the best titles in the industry, 00:16:41.285 --> 00:16:42.407 but you also want to be 00:16:42.466 --> 00:16:44.168 very representative of what 00:16:44.208 --> 00:16:46.932 the hospitality industry is of today. 00:16:46.951 --> 00:16:47.032 So I... 00:16:48.592 --> 00:16:50.034 I've said this before publicly. 00:16:50.054 --> 00:16:51.836 I can't wait till we get to 00:16:51.876 --> 00:16:52.977 a time where we don't have 00:16:52.998 --> 00:16:54.419 to talk about the diversity 00:16:54.500 --> 00:16:55.520 in panels and stuff and 00:16:55.561 --> 00:16:56.481 people on them anymore 00:16:56.822 --> 00:16:58.845 because it's just a given fact. 00:16:59.125 --> 00:16:59.706 But until then, 00:17:00.025 --> 00:17:01.607 thank you for continuing to 00:17:01.628 --> 00:17:02.828 try to push forward new 00:17:02.869 --> 00:17:03.990 faces within our industry 00:17:04.029 --> 00:17:05.071 so everyone gets a seat. 00:17:05.807 --> 00:17:06.588 at the table. 00:17:06.828 --> 00:17:07.769 Well, Glenn, 00:17:07.969 --> 00:17:09.089 I can tell you with certainty 00:17:09.170 --> 00:17:10.371 it is changing. 00:17:10.391 --> 00:17:10.990 Thank goodness. 00:17:11.010 --> 00:17:12.192 Because when you look at the panels, 00:17:12.571 --> 00:17:13.573 we do have a lot. 00:17:13.893 --> 00:17:14.693 You're exactly right. 00:17:15.153 --> 00:17:17.214 We need titles and sponsors 00:17:17.255 --> 00:17:18.695 want titles and things of that nature. 00:17:20.928 --> 00:17:21.429 It's changing. 00:17:21.489 --> 00:17:24.491 Those titles, those positions that we need, 00:17:24.912 --> 00:17:26.834 you know, on the stage and speaking, 00:17:27.434 --> 00:17:29.757 you know, they're becoming more diverse. 00:17:29.797 --> 00:17:32.680 So it's not as hard as you might think. 00:17:33.180 --> 00:17:35.702 And Suzanne, with respect to universities, 00:17:35.762 --> 00:17:36.002 you know, 00:17:36.042 --> 00:17:39.006 we have representatives and 00:17:39.046 --> 00:17:41.067 faculty and students from 00:17:41.067 --> 00:17:43.049 12 different universities 00:17:43.109 --> 00:17:43.790 attending this year. 00:17:44.392 --> 00:17:47.694 So we do have an academic rate, 00:17:47.795 --> 00:17:48.296 if you will, 00:17:48.375 --> 00:17:50.337 for professors and students to attend. 00:17:50.877 --> 00:17:51.898 And there's representation 00:17:51.939 --> 00:17:52.599 from 12 different 00:17:52.660 --> 00:17:55.481 universities at the conference this year. 00:17:55.521 --> 00:17:56.563 So we're bringing along the 00:17:56.583 --> 00:17:57.203 next generation. 00:17:58.628 --> 00:17:59.509 That's what it's going to be 00:17:59.528 --> 00:18:00.430 about because if we don't 00:18:00.529 --> 00:18:01.390 all work that way, 00:18:02.029 --> 00:18:02.650 we're not going to have 00:18:02.690 --> 00:18:03.569 those titles for those 00:18:03.631 --> 00:18:05.490 other folks that are coming up. 00:18:05.510 --> 00:18:06.270 So it's great to hear. 00:18:07.672 --> 00:18:08.051 Yeah, 00:18:08.451 --> 00:18:10.132 it's great to see all the new people 00:18:10.172 --> 00:18:11.613 coming into the business. 00:18:11.873 --> 00:18:12.932 I don't know what happened 00:18:12.952 --> 00:18:13.953 because we're talking about the table, 00:18:13.993 --> 00:18:16.334 but I remember being so 00:18:16.394 --> 00:18:17.315 excited and telling my 00:18:17.355 --> 00:18:18.234 parents that I think I was 00:18:18.355 --> 00:18:20.055 finally at the adults table 00:18:20.476 --> 00:18:21.816 in the hospitality business 00:18:21.875 --> 00:18:22.756 when I got promoted from 00:18:22.776 --> 00:18:23.997 the kids table over there. 00:18:24.537 --> 00:18:25.997 And now all of a sudden I've 00:18:26.017 --> 00:18:27.097 turned into Grandpa Glenn. 00:18:27.218 --> 00:18:28.317 I don't know what 00:18:28.817 --> 00:18:30.459 the heck happened there. 00:18:30.479 --> 00:18:31.839 I remember when all of us were like, 00:18:32.359 --> 00:18:34.300 you know, young, but whatever. 00:18:34.320 --> 00:18:35.741 Be careful what you wish for, Glenn. 00:18:36.142 --> 00:18:36.842 Dude, seriously, 00:18:36.902 --> 00:18:38.403 my greatest fear is to get 00:18:38.442 --> 00:18:39.363 a lifetime achievement 00:18:39.522 --> 00:18:41.243 award at this point. 00:18:41.304 --> 00:18:41.704 Well, for me, 00:18:41.724 --> 00:18:44.165 it would be a lifetime of unachievement, 00:18:44.266 --> 00:18:44.865 but that would be, 00:18:44.925 --> 00:18:46.527 that's a different story. 00:18:46.787 --> 00:18:47.207 You know, 00:18:47.366 --> 00:18:49.028 we've all been doing this a long time, 00:18:49.107 --> 00:18:50.509 Glenn. 00:18:51.108 --> 00:18:52.809 It's scary when I look out in the office, 00:18:52.869 --> 00:18:53.830 I'm the oldest person here. 00:18:53.851 --> 00:18:54.391 Right. 00:18:56.423 --> 00:18:57.183 It's so strange. 00:18:57.804 --> 00:18:59.505 Anyway, but you know, 00:18:59.825 --> 00:19:02.366 you got an owner's focused conference. 00:19:02.406 --> 00:19:03.367 So I thought let's spend a 00:19:03.407 --> 00:19:04.388 few minutes talking about 00:19:04.429 --> 00:19:05.970 what's going on with 00:19:06.150 --> 00:19:08.230 ownership and the ownership mindset. 00:19:08.310 --> 00:19:09.332 And as I mentioned in, 00:19:09.511 --> 00:19:10.932 in before I'm bringing you guys on, 00:19:11.334 --> 00:19:12.914 I've been on the road a lot this year. 00:19:13.255 --> 00:19:14.096 And one of the things that I 00:19:14.135 --> 00:19:15.957 keep hearing is that owners 00:19:16.057 --> 00:19:18.739 want to keep moving forward and 00:19:19.239 --> 00:19:20.079 And it looks like, 00:19:20.701 --> 00:19:21.561 according to like Bruce 00:19:21.602 --> 00:19:22.903 Ford Development Pipeline, 00:19:22.982 --> 00:19:24.565 things are going to start picking up. 00:19:24.805 --> 00:19:25.766 I'm hearing from title 00:19:25.826 --> 00:19:27.228 companies that things are 00:19:27.607 --> 00:19:29.390 really picking up right now. 00:19:29.770 --> 00:19:30.131 Teague, 00:19:30.632 --> 00:19:32.594 what's your prognostication on the 00:19:32.634 --> 00:19:33.255 deal market? 00:19:33.295 --> 00:19:34.675 Put on your Hunter Hotel 00:19:34.715 --> 00:19:36.939 Advisors cap now for a second. 00:19:37.219 --> 00:19:37.960 How do you see 2024 playing out? 00:19:39.229 --> 00:19:39.469 Yeah. 00:19:39.548 --> 00:19:40.809 Lee, what's our conference theme? 00:19:40.950 --> 00:19:41.730 No, no limits. 00:19:42.530 --> 00:19:42.691 I mean, 00:19:42.711 --> 00:19:45.471 that was our positive spin on let's go, 00:19:45.531 --> 00:19:45.932 everybody. 00:19:45.971 --> 00:19:46.872 Let's no, no limits. 00:19:48.752 --> 00:19:49.933 We're as busy as we back. 00:19:49.953 --> 00:19:51.213 Tell you on the transaction side, 00:19:51.434 --> 00:19:52.615 in the brokerage side, 00:19:52.654 --> 00:19:54.256 we are as busy as we have ever been. 00:19:54.756 --> 00:19:55.356 Now, it's hard. 00:19:55.537 --> 00:19:56.376 Everybody knows that it is 00:19:56.457 --> 00:19:57.877 hard out there to get deals done today. 00:19:58.259 --> 00:19:59.479 Debt is very expensive, 00:20:00.200 --> 00:20:01.520 but we are very busy. 00:20:02.402 --> 00:20:04.202 It's complicated everywhere 00:20:04.222 --> 00:20:05.663 from operations to getting 00:20:05.703 --> 00:20:07.005 a transaction done. 00:20:07.424 --> 00:20:09.787 But there is no lack of 00:20:10.047 --> 00:20:11.367 options out there today. 00:20:11.948 --> 00:20:13.229 We probably have more net 00:20:13.308 --> 00:20:14.410 sellers today than we've 00:20:14.450 --> 00:20:15.451 had in a long time. 00:20:16.000 --> 00:20:16.201 Wow. 00:20:17.201 --> 00:20:18.721 So let me ask you this, Lee. 00:20:19.541 --> 00:20:20.521 I got to ask this question. 00:20:20.561 --> 00:20:22.402 I'm required to buy a contract. 00:20:23.182 --> 00:20:24.803 Is money still sitting on the sidelines? 00:20:24.883 --> 00:20:28.243 And what's the deal with that? 00:20:28.344 --> 00:20:29.324 There's definitely a lot of 00:20:29.403 --> 00:20:30.864 equity in the market today 00:20:31.483 --> 00:20:33.125 looking for opportunity. 00:20:33.224 --> 00:20:33.605 Obviously, 00:20:33.625 --> 00:20:35.164 with the increase in interest 00:20:35.184 --> 00:20:36.384 rates over the last year, 00:20:36.904 --> 00:20:38.806 that bid-ask spread has widened. 00:20:39.925 --> 00:20:41.326 I would say, and Teague, 00:20:41.566 --> 00:20:43.186 you can verify this as well. 00:20:43.487 --> 00:20:44.287 I would say that bid-ask 00:20:44.326 --> 00:20:45.047 spread is narrowing. 00:20:45.888 --> 00:20:46.950 There's a desire to get 00:20:47.570 --> 00:20:49.112 transactions done on both 00:20:49.152 --> 00:20:50.492 sides of the equation today. 00:20:50.854 --> 00:20:51.994 So I think that bid ask 00:20:52.035 --> 00:20:53.615 spread is beginning to narrow, 00:20:53.895 --> 00:20:55.257 which will lead to a lot 00:20:55.298 --> 00:20:56.558 more transactions happening 00:20:56.598 --> 00:21:00.342 in 24 than happened in 25. 00:21:00.342 --> 00:21:01.982 I think we're at the trough 00:21:02.022 --> 00:21:03.463 of pricing is what I think. 00:21:03.884 --> 00:21:05.203 I don't know how long we'll be down here, 00:21:05.263 --> 00:21:06.085 but we're definitely off 00:21:06.105 --> 00:21:07.885 20-ish percent in value. 00:21:07.905 --> 00:21:09.705 But I think we are where we are. 00:21:11.326 --> 00:21:12.528 Barring something major happening, 00:21:12.548 --> 00:21:13.367 I think we are where we are. 00:21:14.608 --> 00:21:15.689 Interest rates will go down 00:21:15.749 --> 00:21:16.769 into the second half of the year. 00:21:16.789 --> 00:21:19.090 It will be longer than people want. 00:21:19.111 --> 00:21:20.191 They all want it now, 00:21:20.791 --> 00:21:22.752 but maybe fourth quarter. 00:21:23.133 --> 00:21:24.212 But interest rates will go down. 00:21:24.272 --> 00:21:25.193 Values will come back. 00:21:26.513 --> 00:21:27.355 But it's happening. 00:21:27.394 --> 00:21:27.575 Right. 00:21:27.615 --> 00:21:28.275 Make your decision. 00:21:28.295 --> 00:21:29.336 Make your move right now. 00:21:29.715 --> 00:21:29.855 Right. 00:21:29.895 --> 00:21:30.855 It looked like the Fed was 00:21:30.895 --> 00:21:31.916 more bullish on dropping 00:21:32.017 --> 00:21:33.458 interest rates originally 00:21:33.518 --> 00:21:34.817 had they indicated towards 00:21:34.837 --> 00:21:35.818 the top of the year that 00:21:36.318 --> 00:21:38.380 had changed as the economy 00:21:38.400 --> 00:21:39.441 has not cooled off to a 00:21:39.500 --> 00:21:40.520 level where they feel that 00:21:40.560 --> 00:21:41.340 they could do that. 00:21:41.801 --> 00:21:42.922 But you're right. 00:21:43.001 --> 00:21:44.522 I do still believe there 00:21:44.583 --> 00:21:47.003 will be some interest level relief. 00:21:47.183 --> 00:21:48.384 And based on that. 00:21:48.904 --> 00:21:49.345 I'd be curious, 00:21:49.424 --> 00:21:50.646 are people waiting to get 00:21:50.686 --> 00:21:51.686 deals done for that? 00:21:51.787 --> 00:21:53.108 Is it even worth it? 00:21:53.509 --> 00:21:54.589 And how does a drop in 00:21:54.690 --> 00:21:55.911 interest rates later this year, 00:21:55.931 --> 00:21:56.711 do you think, 00:21:57.172 --> 00:21:59.673 will change the deal-making environment? 00:22:00.134 --> 00:22:02.375 Yeah, there's a yin and yang to all of it, 00:22:02.436 --> 00:22:02.576 right? 00:22:02.616 --> 00:22:03.057 I mean, yes, 00:22:03.096 --> 00:22:04.038 we want interest rates lowered. 00:22:04.077 --> 00:22:05.378 But one of the reasons why 00:22:05.459 --> 00:22:06.299 there are so many assets on 00:22:06.319 --> 00:22:07.161 the market at the moment is 00:22:07.201 --> 00:22:09.122 because you might normally refinance. 00:22:09.663 --> 00:22:10.522 And those people who would 00:22:10.563 --> 00:22:11.944 refinance are not refinance. 00:22:11.964 --> 00:22:12.724 They're not able to. 00:22:13.086 --> 00:22:14.386 So they're just selling the asset. 00:22:14.906 --> 00:22:15.487 So great. 00:22:15.567 --> 00:22:16.307 That's opportunity. 00:22:16.508 --> 00:22:17.667 So if you're a long term holder, 00:22:17.688 --> 00:22:18.488 if you've got capital, 00:22:18.509 --> 00:22:19.409 which there is still a ton 00:22:19.429 --> 00:22:20.969 of capital out there in the market, 00:22:21.049 --> 00:22:21.769 you've got capital, 00:22:22.089 --> 00:22:22.910 you should be gobbling up 00:22:22.950 --> 00:22:23.631 everything you can. 00:22:24.530 --> 00:22:26.051 The interest rates lowering is remember, 00:22:27.132 --> 00:22:27.991 you lower interest rates 00:22:28.152 --> 00:22:29.893 when the market doesn't do well. 00:22:30.353 --> 00:22:30.553 Right. 00:22:30.593 --> 00:22:31.794 The market's still too strong. 00:22:32.213 --> 00:22:33.094 How do you lower interest 00:22:33.114 --> 00:22:34.275 rates when the stock market 00:22:34.375 --> 00:22:35.474 is at all time high? 00:22:35.935 --> 00:22:36.155 Right. 00:22:36.615 --> 00:22:36.796 Yeah. 00:22:37.768 --> 00:22:39.509 So something's got to happen 00:22:39.970 --> 00:22:41.151 in the macro economy, 00:22:41.570 --> 00:22:42.412 which will be negative 00:22:42.612 --> 00:22:45.273 before they raise rates to 00:22:45.394 --> 00:22:46.355 juice the economy. 00:22:47.355 --> 00:22:47.855 Makes sense. 00:22:47.895 --> 00:22:50.617 Lee, you want to comment? 00:22:50.637 --> 00:22:51.118 Yeah, no. 00:22:51.138 --> 00:22:52.819 Like Dick alluded to, 00:22:52.980 --> 00:22:53.780 I think there will be 00:22:55.241 --> 00:22:56.383 interest rates dropped this year, 00:22:56.423 --> 00:22:57.303 if for no other reason, 00:22:57.343 --> 00:22:58.983 it's an election year, right? 00:22:59.304 --> 00:23:01.664 And so I do think it'll be 00:23:01.865 --> 00:23:03.486 closer toward the fourth quarter, 00:23:03.986 --> 00:23:05.446 not the second, 00:23:05.547 --> 00:23:06.626 third that everybody was 00:23:06.646 --> 00:23:07.528 sort of hoping for at the 00:23:07.548 --> 00:23:08.307 beginning of this year, 00:23:08.448 --> 00:23:10.588 given the current economic situation. 00:23:10.608 --> 00:23:11.670 But I do think there will be 00:23:12.390 --> 00:23:14.171 a drop in interest rates. 00:23:14.770 --> 00:23:16.912 Obviously, when interest rates, you know, 00:23:17.031 --> 00:23:18.393 it's a function of, you know, 00:23:18.413 --> 00:23:19.354 the cap rate's a function 00:23:19.394 --> 00:23:20.374 of an interest rate, right? 00:23:20.554 --> 00:23:21.815 It's a math equation. 00:23:22.154 --> 00:23:24.436 You know, interest rates, you know, go up, 00:23:24.497 --> 00:23:26.157 cap rates go up, values go down. 00:23:26.637 --> 00:23:27.979 So when interest rates go down, 00:23:28.038 --> 00:23:29.400 cap rates will go down, 00:23:29.579 --> 00:23:30.941 values will go back up, right? 00:23:30.980 --> 00:23:31.701 It's a math equation. 00:23:32.280 --> 00:23:34.162 So I do think you'll start 00:23:34.241 --> 00:23:35.563 seeing transactions. 00:23:36.104 --> 00:23:36.304 Again, 00:23:36.344 --> 00:23:38.285 that bid-ask spread will narrow and 00:23:38.305 --> 00:23:39.525 the transaction phase will pick up. 00:23:40.165 --> 00:23:40.526 Suzanne? 00:23:40.546 --> 00:23:42.846 I was going to say, it's economics 101. 00:23:43.127 --> 00:23:43.748 Don't we teach that? 00:23:47.369 --> 00:23:48.330 Yeah, that's for sure. 00:23:48.351 --> 00:23:48.651 So, Lee, 00:23:48.691 --> 00:23:50.192 I got to ask you this question as well. 00:23:50.292 --> 00:23:51.755 And I've been asking a lot 00:23:51.795 --> 00:23:53.416 of folks this question 00:23:53.436 --> 00:23:55.118 because it really surprises me. 00:23:55.159 --> 00:23:56.180 People keep saying that 00:23:56.200 --> 00:23:57.020 deals can't get done 00:23:57.040 --> 00:23:58.423 because of high interest rates. 00:23:58.502 --> 00:24:00.285 But guys our age remember 00:24:00.325 --> 00:24:01.326 when interest rates were 00:24:01.365 --> 00:24:03.147 higher before the Great Recession. 00:24:03.909 --> 00:24:05.430 My theory is, and again, 00:24:05.470 --> 00:24:06.609 I'm just as an outsider, 00:24:07.029 --> 00:24:08.010 we trained a whole 00:24:08.050 --> 00:24:09.771 generation of hoteliers and 00:24:09.811 --> 00:24:11.192 investors to expect below 00:24:11.271 --> 00:24:13.012 natural interest rates. 00:24:13.794 --> 00:24:16.115 Does this play a factor into 00:24:16.174 --> 00:24:17.494 how deals are getting done? 00:24:17.894 --> 00:24:19.096 Because we've retrained 00:24:19.715 --> 00:24:20.656 people to think of what 00:24:20.717 --> 00:24:22.297 interest rates should be as 00:24:22.356 --> 00:24:23.458 opposed to what we thought 00:24:23.498 --> 00:24:26.398 that they should be before 2008, 00:24:26.398 --> 00:24:27.779 if I'm making any sense there. 00:24:28.279 --> 00:24:28.480 Yeah. 00:24:28.559 --> 00:24:29.080 No, I mean, 00:24:29.260 --> 00:24:31.643 I saw a stat a couple of weeks ago, 00:24:32.103 --> 00:24:35.605 the average for the last 50 years. 00:24:37.207 --> 00:24:38.667 Now, this was residential mortgages. 00:24:38.909 --> 00:24:39.548 Right. 00:24:39.608 --> 00:24:40.890 The average residential 00:24:40.910 --> 00:24:42.531 mortgage rate for the last 00:24:42.531 --> 00:24:44.313 50 years is like seven and 00:24:44.333 --> 00:24:45.013 a quarter percent. 00:24:46.654 --> 00:24:49.217 You know, it's at it's at six and a half, 00:24:49.636 --> 00:24:50.877 six and a quarter now. 00:24:51.519 --> 00:24:53.220 And everybody's saying, wow, that's high. 00:24:53.279 --> 00:24:53.901 Wow, that's high. 00:24:53.941 --> 00:24:54.101 Right. 00:24:54.641 --> 00:24:56.762 It's below the 50 year average. 00:24:58.098 --> 00:24:59.540 So I think you're right, Glenn. 00:24:59.800 --> 00:25:02.243 Everybody's been used to, you know, 00:25:02.284 --> 00:25:05.087 that three, four or 5%, you know, 00:25:05.147 --> 00:25:05.667 on the debt. 00:25:06.548 --> 00:25:07.790 Now they're gonna have to, you know, 00:25:09.032 --> 00:25:10.814 going to the mean, if you will. 00:25:11.473 --> 00:25:12.335 And everybody's going to 00:25:12.355 --> 00:25:13.375 have to get used to that. 00:25:13.736 --> 00:25:14.175 And hey, 00:25:14.215 --> 00:25:15.916 we're just you got to do your 00:25:15.957 --> 00:25:16.416 underwriting. 00:25:16.477 --> 00:25:16.717 Yes, 00:25:16.777 --> 00:25:19.439 it'll affect value because borrowing 00:25:19.459 --> 00:25:20.179 costs are higher. 00:25:21.160 --> 00:25:23.361 So it'll affect value in the marketplace. 00:25:24.041 --> 00:25:26.482 But, you know, on the long run, 00:25:26.603 --> 00:25:27.644 historical average, 00:25:28.104 --> 00:25:29.644 we're still in a good position. 00:25:30.325 --> 00:25:33.166 What was the mortgage on your first house? 00:25:34.823 --> 00:25:38.546 Yeah, well, remember, I was a journalist, 00:25:38.566 --> 00:25:40.907 so I couldn't buy anything 00:25:40.928 --> 00:25:42.409 until I was like 40. 00:25:42.409 --> 00:25:44.971 Yeah, it was higher. 00:25:45.451 --> 00:25:47.212 But when I got this house 10 years ago, 00:25:47.272 --> 00:25:49.694 I started out at like 4.7, 4.8, 00:25:49.694 --> 00:25:51.276 but then I refinanced 00:25:52.037 --> 00:25:53.218 during the trouble we might 00:25:53.258 --> 00:25:57.540 have had back in like 21 or so at 2.6. 00:25:57.540 --> 00:25:59.083 And to highlight what you 00:25:59.103 --> 00:26:00.063 were saying about hoteliers, 00:26:00.443 --> 00:26:01.724 even if I wanted to move, 00:26:02.285 --> 00:26:03.686 I'm not going anywhere. 00:26:03.707 --> 00:26:06.369 It would be stupid for me to 00:26:06.770 --> 00:26:09.493 trade what I'm doing right now. 00:26:09.574 --> 00:26:10.575 I also knocked off a number 00:26:10.634 --> 00:26:12.537 of years from my mortgage. 00:26:12.577 --> 00:26:13.479 So that was exciting. 00:26:13.499 --> 00:26:15.661 A lot of that going on. 00:26:16.362 --> 00:26:18.003 Yeah, for sure. 00:26:18.785 --> 00:26:19.085 Suzanne, 00:26:19.105 --> 00:26:20.446 you got any more questions for our 00:26:20.487 --> 00:26:21.008 friends over there? 00:26:22.996 --> 00:26:25.018 I want to know what event 00:26:25.077 --> 00:26:26.720 are you most excited about 00:26:26.799 --> 00:26:27.601 for the conference? 00:26:27.961 --> 00:26:29.221 Like which panel? 00:26:29.321 --> 00:26:30.682 And I know that's like, you know, 00:26:30.722 --> 00:26:31.964 your favorite child, 00:26:32.065 --> 00:26:33.566 but what is going to jazz 00:26:33.586 --> 00:26:34.207 you up the most? 00:26:34.586 --> 00:26:36.209 And are you having the puppies come back? 00:26:36.229 --> 00:26:38.250 Yes. 00:26:38.270 --> 00:26:38.471 Right. 00:26:39.652 --> 00:26:39.872 Yeah. 00:26:39.951 --> 00:26:40.132 Okay. 00:26:45.068 --> 00:26:47.432 I guess I can't say my own panel, can I? 00:26:48.031 --> 00:26:48.633 Yes, you can. 00:26:49.294 --> 00:26:50.796 Go for it. 00:26:51.115 --> 00:26:52.877 I'm biased, but I'm doing two. 00:26:52.917 --> 00:26:55.019 I'm doing a broker panel at 10 a.m. 00:26:55.079 --> 00:26:56.682 on Tuesday to kick the conference off, 00:26:57.163 --> 00:26:57.863 and then I think another 00:26:57.903 --> 00:26:58.904 one at 10 in the afternoon. 00:27:00.385 --> 00:27:03.549 Sorry, 4 in the afternoon on Tuesday, 00:27:04.109 --> 00:27:05.031 the Main Street panel. 00:27:05.854 --> 00:27:06.855 So the Washington panel is 00:27:06.875 --> 00:27:08.357 always very good. 00:27:08.657 --> 00:27:09.920 Shai Brookfield will be here. 00:27:09.960 --> 00:27:10.861 Mitch Shaw will be there. 00:27:11.622 --> 00:27:13.223 There's a bunch of really 00:27:13.265 --> 00:27:14.205 good personalities that 00:27:14.226 --> 00:27:15.267 will be talking to the conference. 00:27:16.239 --> 00:27:16.798 Awesome. 00:27:16.898 --> 00:27:17.338 I'm excited. 00:27:17.839 --> 00:27:18.700 I'm excited too. 00:27:19.200 --> 00:27:19.400 All right. 00:27:19.440 --> 00:27:20.599 I'll do a big plug for you guys. 00:27:20.641 --> 00:27:22.221 Hunterconference.com. 00:27:22.381 --> 00:27:24.001 Hunterconference.com. 00:27:24.162 --> 00:27:26.781 Love to see you all there next week. 00:27:27.663 --> 00:27:29.522 I know I'll be hosting the table event. 00:27:29.563 --> 00:27:31.243 I got that great brands 00:27:31.644 --> 00:27:32.963 hotel owners panel. 00:27:33.003 --> 00:27:34.085 I'm going to be sitting in 00:27:34.285 --> 00:27:35.785 on the Anthony Capuano, 00:27:35.964 --> 00:27:37.246 CEO of Marriott panel. 00:27:37.605 --> 00:27:39.445 I'm going to be stalking Ed Bastian, 00:27:39.686 --> 00:27:40.446 begging him. 00:27:41.166 --> 00:27:42.406 for an autograph and 00:27:42.507 --> 00:27:45.127 unlimited Sky Lounge entry 00:27:45.147 --> 00:27:46.008 for the rest of my life. 00:27:46.028 --> 00:27:47.509 So look out for that. 00:27:48.189 --> 00:27:49.548 And I'll be going to 00:27:49.588 --> 00:27:50.990 Teague's panels as well. 00:27:51.170 --> 00:27:51.670 And, of course, 00:27:51.730 --> 00:27:53.170 you could find me nibbling 00:27:53.250 --> 00:27:55.351 on some pretzels out in the 00:27:55.411 --> 00:27:56.550 lobby because you guys had 00:27:56.570 --> 00:27:57.671 those nice soft pretzels. 00:27:57.971 --> 00:27:59.892 I mean, we've got to get Suzanne a badge. 00:28:00.031 --> 00:28:00.791 We've got to figure out how 00:28:00.832 --> 00:28:01.971 to get her to a conference. 00:28:01.991 --> 00:28:03.673 Here are some FIU students, Suzanne. 00:28:04.246 --> 00:28:04.445 Yeah. 00:28:05.405 --> 00:28:07.307 Let's plan that for 2025. 00:28:08.728 --> 00:28:11.148 Guys, anything else you need to say? 00:28:11.189 --> 00:28:12.148 Any more plugs that you need 00:28:12.169 --> 00:28:14.470 to get out before we let 00:28:14.490 --> 00:28:15.349 you gentlemen go today? 00:28:15.690 --> 00:28:16.589 I just look forward to 00:28:16.631 --> 00:28:17.730 seeing everybody next week 00:28:17.770 --> 00:28:18.351 here in Atlanta. 00:28:19.191 --> 00:28:19.471 Awesome. 00:28:19.771 --> 00:28:21.172 Big thanks to the Honor team 00:28:21.192 --> 00:28:21.832 for all their work. 00:28:21.912 --> 00:28:23.053 They're crushing it right now. 00:28:23.887 --> 00:28:24.127 Yeah. 00:28:24.367 --> 00:28:24.689 Awesome. 00:28:24.788 --> 00:28:24.929 Well, 00:28:26.329 --> 00:28:27.510 I can't wait to see what you guys 00:28:27.550 --> 00:28:28.171 have in store. 00:28:28.230 --> 00:28:30.452 One of my favorite conferences of the year, 00:28:31.032 --> 00:28:32.575 Lee Hunter, Teague Hunter. 00:28:32.875 --> 00:28:33.434 Thanks so much. 00:28:33.474 --> 00:28:34.455 Can't wait to see you next week. 00:28:34.476 --> 00:28:36.196 And of course, honor your father, 00:28:36.577 --> 00:28:37.959 incredible Bob Hunter. 00:28:37.999 --> 00:28:39.619 See you guys later. 00:28:39.799 --> 00:28:40.601 I appreciate that. 00:28:41.020 --> 00:28:42.221 Suzanne, what's your big takeaway? 00:28:43.951 --> 00:28:45.711 It was definitely 00:28:45.791 --> 00:28:46.813 interesting to hear that 00:28:46.853 --> 00:28:47.992 deals are still happening, 00:28:48.053 --> 00:28:49.212 that it's just different. 00:28:49.813 --> 00:28:51.773 And I really appreciate the 00:28:51.814 --> 00:28:52.773 fact that a conference 00:28:52.834 --> 00:28:55.234 builds in that opportunity 00:28:55.295 --> 00:28:57.214 for relationship building, networking, 00:28:57.275 --> 00:28:58.895 and truly making deals happen, 00:28:59.476 --> 00:29:00.715 especially living up to the 00:29:00.756 --> 00:29:02.056 spirit that was started 35 00:29:02.056 --> 00:29:03.396 years ago by their dad. 00:29:03.457 --> 00:29:04.936 So that's pretty exciting. 00:29:05.516 --> 00:29:05.996 I love that. 00:29:06.016 --> 00:29:06.817 And I want to make sure that 00:29:06.876 --> 00:29:08.416 you guys come and say hello to me. 00:29:08.557 --> 00:29:09.798 I will be recording a lot of 00:29:09.877 --> 00:29:11.178 great content next week. 00:29:11.218 --> 00:29:12.519 And while we won't have live shows, 00:29:12.558 --> 00:29:13.419 that's because I want to 00:29:13.439 --> 00:29:15.680 talk to as many people as possible. 00:29:16.039 --> 00:29:17.961 So be sure to follow us, you know, 00:29:17.980 --> 00:29:19.080 wherever you get your podcast, 00:29:19.101 --> 00:29:21.142 the audio feed, wherever you want. 00:29:21.261 --> 00:29:22.281 We are there. 00:29:22.342 --> 00:29:23.583 And if you want to take a look at us, 00:29:23.623 --> 00:29:25.864 watch us at NoVacancyNews.com. 00:29:26.144 --> 00:29:28.704 Brand new, all new website coming very, 00:29:28.785 --> 00:29:29.305 very soon, 00:29:29.365 --> 00:29:31.486 hopefully within the next month. 00:29:31.506 --> 00:29:33.286 Check us out on LinkedIn, Facebook, 00:29:33.547 --> 00:29:34.527 and wherever you go. 00:29:34.707 --> 00:29:35.547 get your shows all right 00:29:35.567 --> 00:29:36.647 everybody we'll see you 00:29:36.667 --> 00:29:38.128 tomorrow with a real live 00:29:38.229 --> 00:29:39.669 show and don't forget 00:29:39.689 --> 00:29:40.670 you've got one life so 00:29:40.710 --> 00:29:42.711 blaze on and follow your 00:29:42.730 --> 00:29:44.451 passion see you guys later bye