0:00:00.885 –> 0:00:02.105
So yesterday we talked all

0:00:02.165 –> 0:00:03.987
about going independent.

0:00:04.666 –> 0:00:05.607
Today we’re going to be

0:00:05.647 –> 0:00:07.128
talking about a little bit

0:00:07.208 –> 0:00:08.169
more when it comes to branding.

0:00:08.269 –> 0:00:10.109
Anthony, how does that make you feel?

0:00:11.050 –> 0:00:11.730
I feel branded.

0:00:12.371 –> 0:00:12.871
I’m Anthony.

0:00:13.070 –> 0:00:14.371
Welcome to No Vacancy Lives.

0:00:14.711 –> 0:00:15.593
That’s my friend Glenn.

0:00:15.753 –> 0:00:16.513
You’re watching the number

0:00:16.593 –> 0:00:17.914
one show in hospitality.

0:00:31.603 –> 0:00:33.784
Everybody, welcome to No Vacancy Live.

0:00:33.825 –> 0:00:35.085
That’s Anthony Melchiorri.

0:00:35.405 –> 0:00:36.585
I’m Glenn Hausman.

0:00:36.625 –> 0:00:37.445
Thank you so much for

0:00:37.485 –> 0:00:39.487
spending your time with us today,

0:00:39.527 –> 0:00:40.286
whether you’re out for a

0:00:40.347 –> 0:00:42.787
jog or not working at your desk.

0:00:42.807 –> 0:00:43.468
Hey, thanks.

0:00:43.749 –> 0:00:44.789
How’s it going over there, Anthony?

0:00:45.412 –> 0:00:45.893
Wonderful.

0:00:45.933 –> 0:00:46.594
How are you, sir?

0:00:47.054 –> 0:00:49.176
I’m feeling pretty good because, you know,

0:00:49.216 –> 0:00:50.597
yesterday we had on a great guest.

0:00:50.618 –> 0:00:52.118
We had on Saxton Sherard,

0:00:52.158 –> 0:00:53.500
and he was from Revival Hotels,

0:00:53.561 –> 0:00:54.621
and he talked all about his

0:00:54.682 –> 0:00:57.323
passion as a non-management

0:00:57.363 –> 0:00:58.265
management company for the

0:00:58.524 –> 0:01:00.767
independent hotel scene.

0:01:00.826 –> 0:01:01.268
And today,

0:01:01.628 –> 0:01:02.488
we’re kind of going the other way.

0:01:02.509 –> 0:01:03.329
We’re finding someone who’s

0:01:03.469 –> 0:01:05.090
equally passionate about

0:01:05.210 –> 0:01:07.793
branded hotels out there.

0:01:07.834 –> 0:01:08.513
What do you think?

0:01:09.314 –> 0:01:10.375
I think we should be branded.

0:01:10.896 –> 0:01:11.475
I think so, too.

0:01:11.516 –> 0:01:11.876
But listen,

0:01:12.075 –> 0:01:13.236
what I really like about that

0:01:13.337 –> 0:01:14.677
is it just shows how

0:01:14.697 –> 0:01:15.977
incredible this business is.

0:01:16.037 –> 0:01:16.938
It’s so versatile.

0:01:16.977 –> 0:01:18.858
It’s so interesting that no

0:01:18.879 –> 0:01:20.179
matter what your passion is,

0:01:20.259 –> 0:01:22.140
you can find success going

0:01:22.319 –> 0:01:23.460
down that road.

0:01:23.501 –> 0:01:24.581
And today we have with us

0:01:24.620 –> 0:01:25.721
Mr. Chris Manley.

0:01:26.201 –> 0:01:27.641
He is co-founder and

0:01:27.701 –> 0:01:29.962
president of Five Senses

0:01:30.162 –> 0:01:31.703
Hospitality Management Company.

0:01:31.743 –> 0:01:33.444
He chose to start the very

0:01:33.504 –> 0:01:34.885
opportune time of July 2020.

0:01:34.885 –> 0:01:35.405
Chris, how are you?

0:01:36.885 –> 0:01:37.447
I’m doing great.

0:01:37.466 –> 0:01:39.228
If I was any better, I’d be you, Glenn.

0:01:39.269 –> 0:01:40.590
That’s my goal today.

0:01:40.971 –> 0:01:41.171
Well,

0:01:41.210 –> 0:01:43.072
it turns out that today we’re both at

0:01:43.112 –> 0:01:44.614
the same hotel,

0:01:45.114 –> 0:01:46.637
although mine is a digital

0:01:46.677 –> 0:01:50.001
representation of the AC Frisco, Colorado,

0:01:50.021 –> 0:01:51.042
and you’re really there.

0:01:51.061 –> 0:01:52.424
I’m a little bit jealous.

0:01:53.615 –> 0:01:54.135
I am.

0:01:54.176 –> 0:01:55.819
It’s a great day here in Summit County.

0:01:55.899 –> 0:01:58.081
I’m literally minutes from Vail,

0:01:58.701 –> 0:01:59.823
Breckenridge, Keystone,

0:02:00.063 –> 0:02:01.426
Copper Mountain and a basin.

0:02:01.605 –> 0:02:03.128
And the lobby is empty

0:02:03.147 –> 0:02:03.968
because we got four or five

0:02:04.009 –> 0:02:05.150
inches of fresh powder last night.

0:02:05.170 –> 0:02:06.051
So all of our guests are on

0:02:06.070 –> 0:02:07.093
the slopes and I am not.

0:02:07.914 –> 0:02:08.054
Yeah.

0:02:09.834 –> 0:02:10.054
Yeah.

0:02:10.455 –> 0:02:11.276
So it’s kind of nice that

0:02:11.316 –> 0:02:12.456
it’s quiet over there so

0:02:12.616 –> 0:02:13.798
you could give us your full

0:02:14.138 –> 0:02:15.459
attention this afternoon.

0:02:15.900 –> 0:02:18.782
So, you know, curious as to, you know,

0:02:18.822 –> 0:02:19.502
yesterday we were talking

0:02:19.522 –> 0:02:20.743
about the independent hotels.

0:02:20.764 –> 0:02:22.044
Today we want to talk to you about,

0:02:22.145 –> 0:02:23.205
and just before we went on air,

0:02:23.246 –> 0:02:24.768
you said you’re exclusively

0:02:24.907 –> 0:02:25.889
branded hotels.

0:02:26.308 –> 0:02:27.289
As somebody who created

0:02:27.330 –> 0:02:28.191
their own management

0:02:28.230 –> 0:02:29.651
company nearly four years ago,

0:02:29.792 –> 0:02:31.713
why go in that specific direction?

0:02:31.734 –> 0:02:33.355
And how does that feel that

0:02:33.395 –> 0:02:34.336
helps you be more

0:02:34.376 –> 0:02:35.497
successful in your business?

0:02:35.516 –> 0:02:36.038
Yeah.

0:02:36.568 –> 0:02:37.609
It’s a great question.

0:02:37.649 –> 0:02:38.449
We made the conscious

0:02:38.508 –> 0:02:39.549
decision to focus on

0:02:40.449 –> 0:02:42.349
branded hotels and really

0:02:43.270 –> 0:02:44.770
Merritt Hilton and Hyatt in

0:02:44.931 –> 0:02:48.173
a large regard for a couple of reasons.

0:02:49.032 –> 0:02:50.052
On the operations side,

0:02:50.733 –> 0:02:52.114
I love the brand contribution.

0:02:52.133 –> 0:02:54.215
I looked at some stats the other day.

0:02:55.252 –> 0:02:56.534
In 2023,

0:02:56.534 –> 0:02:58.135
48% of our room nights came from

0:02:58.156 –> 0:02:58.836
brand.com,

0:02:58.956 –> 0:03:00.639
which means they came free of commission,

0:03:01.179 –> 0:03:03.061
direct channels, they stay longer,

0:03:03.322 –> 0:03:04.883
and they’re apt to spend more money.

0:03:05.864 –> 0:03:06.844
And that’ll actually allowed

0:03:06.865 –> 0:03:08.287
us to lower our OTA

0:03:08.326 –> 0:03:10.649
contribution to 13% of all

0:03:10.669 –> 0:03:11.229
of our room nights.

0:03:11.250 –> 0:03:12.330
So because we’re getting so

0:03:12.350 –> 0:03:13.331
much through brand.com,

0:03:14.193 –> 0:03:15.114
we don’t have to have as

0:03:15.174 –> 0:03:16.596
much a dependence on the

0:03:16.716 –> 0:03:17.597
online travel agencies.

0:03:17.637 –> 0:03:18.519
Those are a critical part of

0:03:18.579 –> 0:03:19.319
our revenue strategy,

0:03:20.020 –> 0:03:21.902
but I want them in my need periods,

0:03:22.423 –> 0:03:24.485
not necessarily on weekends

0:03:24.566 –> 0:03:26.829
in the middle of the winter

0:03:26.848 –> 0:03:28.811
in Summit County or other peak periods.

0:03:29.551 –> 0:03:30.231
The other thing I’d say

0:03:30.252 –> 0:03:30.752
about the branded

0:03:30.792 –> 0:03:32.233
environment is when you’re

0:03:32.252 –> 0:03:33.793
going out to raise equity, you know,

0:03:34.133 –> 0:03:35.054
financing of a branded

0:03:35.074 –> 0:03:37.313
hotel in many times is a lot easier.

0:03:38.034 –> 0:03:39.435
And on the exit,

0:03:39.935 –> 0:03:41.156
if and when you ever decide to sell,

0:03:41.836 –> 0:03:42.536
they have a tendency to

0:03:42.575 –> 0:03:44.417
trade it as quite a bit lower cap rate.

0:03:44.977 –> 0:03:45.296
Exactly.

0:03:45.317 –> 0:03:45.937
It looks like they had a

0:03:45.956 –> 0:03:47.277
busy breakfast service this morning.

0:03:47.877 –> 0:03:50.799
We’re just cleaning up from our guests.

0:03:51.718 –> 0:03:51.938
Yeah.

0:03:52.218 –> 0:03:52.739
Well, it’s nice.

0:03:52.758 –> 0:03:53.538
They’re all out skiing.

0:03:53.819 –> 0:03:54.039
Anthony,

0:03:54.080 –> 0:03:54.819
it looked like you were about to

0:03:54.860 –> 0:03:55.340
say something.

0:03:55.900 –> 0:03:57.200
I’d like to go skiing, please.

0:03:57.401 –> 0:03:58.341
Double diamonds only.

0:03:59.010 –> 0:03:59.390
I love it.

0:03:59.831 –> 0:04:00.211
I love it.

0:04:02.432 –> 0:04:03.614
Yeah.

0:04:03.633 –> 0:04:05.435
So you’re getting about half

0:04:05.474 –> 0:04:08.217
of your business right from brand.com,

0:04:08.717 –> 0:04:08.937
right?

0:04:09.638 –> 0:04:10.679
That’s pretty impressive.

0:04:10.718 –> 0:04:11.538
And that’s pretty much in

0:04:11.599 –> 0:04:13.661
line with numbers that I’ve heard.

0:04:13.721 –> 0:04:15.342
So what are you thinking

0:04:15.382 –> 0:04:16.343
about in terms of your

0:04:17.002 –> 0:04:19.584
strategy when it comes to

0:04:19.625 –> 0:04:22.146
filling up the other 50% of rooms?

0:04:23.226 –> 0:04:24.108
You know, that’s a good,

0:04:24.127 –> 0:04:25.149
that’s a great question.

0:04:25.749 –> 0:04:26.550
Interestingly, we’ve,

0:04:27.528 –> 0:04:29.451
as a company spent a lot

0:04:29.492 –> 0:04:30.151
more time talking about

0:04:30.192 –> 0:04:31.795
segmentation in the last 12

0:04:31.795 –> 0:04:33.737
months than we have coming out of COVID.

0:04:34.697 –> 0:04:35.418
Coming out of COVID,

0:04:35.459 –> 0:04:36.721
there was no segmentation

0:04:36.781 –> 0:04:37.781
because it was always,

0:04:38.283 –> 0:04:39.764
and there was no group,

0:04:39.865 –> 0:04:40.625
there was no government,

0:04:40.665 –> 0:04:41.726
there was no business travel.

0:04:41.846 –> 0:04:43.428
And I think in industry as a whole,

0:04:43.449 –> 0:04:44.891
we kind of lost our focus on

0:04:45.802 –> 0:04:46.502
what segments are

0:04:46.521 –> 0:04:48.043
appropriate when to build your base.

0:04:48.583 –> 0:04:49.903
And this year we’ve really

0:04:49.923 –> 0:04:51.543
made a pivot to make a

0:04:51.584 –> 0:04:52.944
conscious effort of when do

0:04:52.963 –> 0:04:53.603
we want government?

0:04:53.663 –> 0:04:54.464
When do we want group?

0:04:54.545 –> 0:04:55.425
When do we want Smurf?

0:04:55.925 –> 0:04:56.704
When do we want retail?

0:04:57.946 –> 0:04:59.005
When do we want special corporate?

0:04:59.625 –> 0:05:00.326
And I think that’s an

0:05:00.365 –> 0:05:02.226
important part of any revenue strategy,

0:05:02.887 –> 0:05:03.826
but it’s gonna be more so

0:05:04.146 –> 0:05:05.267
going forward because

0:05:06.223 –> 0:05:07.483
the abundance of leisure and

0:05:07.502 –> 0:05:09.983
transient will continue to dissipate.

0:05:10.644 –> 0:05:11.504
It’s not going to go away by

0:05:11.524 –> 0:05:12.444
any stretch of imagination,

0:05:12.463 –> 0:05:13.665
but we’re not going to have

0:05:13.704 –> 0:05:14.944
it like we had coming out of COVID,

0:05:15.024 –> 0:05:15.725
and you’re going to need

0:05:15.764 –> 0:05:16.545
more special corporate.

0:05:16.564 –> 0:05:17.625
You’re going to need more group,

0:05:18.586 –> 0:05:19.846
especially in slower

0:05:19.865 –> 0:05:20.925
periods where you want to

0:05:20.946 –> 0:05:24.666
build a base so that when

0:05:24.706 –> 0:05:26.146
demand isn’t present in the marketplace,

0:05:26.307 –> 0:05:27.307
you can really push rates

0:05:27.968 –> 0:05:28.648
on the retail side.

0:05:29.348 –> 0:05:29.548
Right.

0:05:30.249 –> 0:05:30.449
Yeah.

0:05:30.509 –> 0:05:32.790
So that’s really fascinating to me.

0:05:32.810 –> 0:05:33.690
And as we know,

0:05:33.730 –> 0:05:34.511
our friends at Nolan have

0:05:34.550 –> 0:05:35.370
talked about how the

0:05:35.511 –> 0:05:37.091
meetings business has been

0:05:37.271 –> 0:05:38.612
rising and rising and rising.

0:05:38.653 –> 0:05:39.533
The smaller meetings that

0:05:39.572 –> 0:05:40.773
you’re going to be appealing to,

0:05:41.134 –> 0:05:42.213
you’re starting to see more

0:05:42.274 –> 0:05:43.634
people attend them and

0:05:43.935 –> 0:05:45.134
they’re mixing the meetings

0:05:45.574 –> 0:05:48.076
with some sort of more leisure elements.

0:05:48.196 –> 0:05:49.737
And you’ve got hotels like

0:05:49.776 –> 0:05:51.396
this one that you’re at,

0:05:51.437 –> 0:05:52.517
I’m not at right now,

0:05:53.117 –> 0:05:55.658
really play into that whole strategy.

0:05:55.738 –> 0:05:57.720
So that makes a whole lot of sense.

0:05:57.759 –> 0:05:58.040
You’d also

0:05:58.160 –> 0:05:59.360
talked about the financing

0:05:59.439 –> 0:06:00.940
side of it that’s really

0:06:01.000 –> 0:06:02.761
interesting and that’s um I

0:06:02.781 –> 0:06:03.901
think a real truism here in

0:06:03.922 –> 0:06:04.982
the hospitality industry

0:06:05.041 –> 0:06:06.021
you have to have certain

0:06:06.062 –> 0:06:07.682
brand names on the door for

0:06:07.702 –> 0:06:09.062
the uh the bankers to go uh

0:06:09.362 –> 0:06:11.223
here have some at a lower

0:06:11.264 –> 0:06:12.903
cost of capital and uh

0:06:13.264 –> 0:06:15.264
lower money in right

0:06:16.565 –> 0:06:17.946
absolutely they’re they’re um

0:06:19.002 –> 0:06:20.882
Frank, many of our hotels,

0:06:21.122 –> 0:06:22.122
if I didn’t have a brand,

0:06:22.423 –> 0:06:25.704
I’m not sure that I could finance them.

0:06:25.884 –> 0:06:26.684
And if I did,

0:06:26.923 –> 0:06:27.964
it would probably be at 100

0:06:27.964 –> 0:06:29.485
or 200 basis points or one

0:06:29.524 –> 0:06:31.165
or two points higher interest rates.

0:06:31.185 –> 0:06:32.786
So it starts to make less economic sense.

0:06:32.846 –> 0:06:35.786
But the banks gain a certain

0:06:35.826 –> 0:06:36.547
comfort when you’re

0:06:36.567 –> 0:06:37.507
affiliated with a major

0:06:37.548 –> 0:06:39.187
brand for obvious reasons,

0:06:39.267 –> 0:06:40.108
because they know the guests,

0:06:40.588 –> 0:06:41.149
they’re going to be able to

0:06:41.168 –> 0:06:42.149
deliver guests every night.

0:06:43.985 –> 0:06:45.107
It’s almost impossible to

0:06:45.166 –> 0:06:46.148
get financing without a

0:06:46.168 –> 0:06:48.269
brand today unless you just

0:06:48.309 –> 0:06:48.968
have a tremendous

0:06:48.988 –> 0:06:50.810
relationship and you’re bringing, what,

0:06:50.810 –> 0:06:51.930
70 cents on a dollar.

0:06:53.271 –> 0:06:54.951
And a big personal guarantee next to it.

0:06:55.471 –> 0:06:55.632
Right.

0:06:56.312 –> 0:06:58.093
And you have to deliver your

0:06:58.134 –> 0:07:00.035
firstborn child before you sign.

0:07:00.055 –> 0:07:00.375
Right.

0:07:01.843 –> 0:07:02.002
Right.

0:07:02.362 –> 0:07:04.444
Now, we have a question over here,

0:07:04.483 –> 0:07:06.165
and I think I can guess the answer.

0:07:06.185 –> 0:07:07.665
Hey, he said you focus on branded,

0:07:07.704 –> 0:07:08.345
but I’m looking at their

0:07:08.384 –> 0:07:09.386
folio and see quite a few

0:07:09.425 –> 0:07:10.346
independent hotels.

0:07:10.485 –> 0:07:11.326
I have a feeling they’re

0:07:11.365 –> 0:07:12.747
hotels that haven’t opened

0:07:13.127 –> 0:07:14.047
that you haven’t announced

0:07:14.086 –> 0:07:16.028
brand affiliation with yet.

0:07:16.307 –> 0:07:17.488
Would that be accurate?

0:07:17.528 –> 0:07:18.788
They’re actually soft brands.

0:07:19.369 –> 0:07:19.528
Right.

0:07:20.949 –> 0:07:23.151
So they’re affiliated with – in this case,

0:07:23.170 –> 0:07:24.971
we’ve got –

0:07:24.971 –> 0:07:26.312
One tapestry open,

0:07:26.372 –> 0:07:27.574
which is Hilton’s brands.

0:07:27.613 –> 0:07:28.875
Another one outside of Aspen

0:07:28.915 –> 0:07:29.555
that we’re going to open at

0:07:29.576 –> 0:07:30.235
the end of this month.

0:07:30.696 –> 0:07:31.776
And one under construction,

0:07:32.057 –> 0:07:34.059
also a tapestry in downtown Fort Worth.

0:07:34.119 –> 0:07:35.781
So they’re affiliated with the Hilton,

0:07:35.841 –> 0:07:37.682
but to the guest there,

0:07:38.362 –> 0:07:39.663
the nobleman or the waters.

0:07:40.144 –> 0:07:41.846
And that creates a real

0:07:41.906 –> 0:07:42.567
unique environment.

0:07:42.607 –> 0:07:43.487
And we’re a big proponent of

0:07:43.507 –> 0:07:44.067
the soft brands.

0:07:44.649 –> 0:07:46.209
I think it’s a nice mesh of independent,

0:07:46.990 –> 0:07:48.151
but you still get a lot of

0:07:48.172 –> 0:07:49.052
the brand contribution.

0:07:50.374 –> 0:07:50.634
Yeah.

0:07:51.666 –> 0:07:52.547
by being affiliated with the

0:07:52.567 –> 0:07:53.288
major brand families.

0:07:53.848 –> 0:07:54.088
Yeah,

0:07:54.108 –> 0:07:55.228
and that seems to be the way that a

0:07:55.267 –> 0:07:56.189
lot of people are moving.

0:07:56.269 –> 0:07:58.528
And yesterday I had asked our guests,

0:07:58.569 –> 0:07:59.329
and I encourage everybody

0:07:59.350 –> 0:08:00.850
to go and download or view

0:08:00.930 –> 0:08:01.831
that show as well,

0:08:02.230 –> 0:08:03.211
about that mix about how

0:08:03.271 –> 0:08:04.490
people say they want to

0:08:04.531 –> 0:08:05.831
stay in independent hotels,

0:08:06.291 –> 0:08:07.591
but a lot of times the

0:08:07.612 –> 0:08:09.353
natural reset is to go to brands.

0:08:09.372 –> 0:08:10.233
And that’s why this soft

0:08:10.252 –> 0:08:11.353
brand category kind of

0:08:11.733 –> 0:08:12.754
gives people the chance to

0:08:12.793 –> 0:08:13.774
step out of their comfort

0:08:13.814 –> 0:08:15.334
zone while firmly remaining

0:08:15.454 –> 0:08:16.915
in their comfort zone.

0:08:16.956 –> 0:08:17.315
Right, Chris?

0:08:18.221 –> 0:08:19.581
That’s exactly right.

0:08:20.062 –> 0:08:20.963
That’s exactly right.

0:08:21.103 –> 0:08:22.062
And you really get a lot of

0:08:22.103 –> 0:08:24.285
latitude in the soft

0:08:24.305 –> 0:08:26.326
branded environment on the decor,

0:08:26.946 –> 0:08:28.987
the operations, the F&B outlets,

0:08:29.487 –> 0:08:29.947
et cetera,

0:08:29.968 –> 0:08:31.069
that you wouldn’t have in a

0:08:31.108 –> 0:08:31.848
hard brand environment.

0:08:32.437 –> 0:08:33.698
Yeah, absolutely.

0:08:34.039 –> 0:08:36.923
So what the heck were you thinking, man?

0:08:37.123 –> 0:08:38.945
July 2020, you’re like,

0:08:39.265 –> 0:08:41.808
I’m going to go and start this company.

0:08:41.908 –> 0:08:42.188
I mean,

0:08:43.129 –> 0:08:44.371
nothing was happening on the

0:08:44.532 –> 0:08:46.274
negative side, but on the positive side,

0:08:46.774 –> 0:08:47.514
nothing was happening.

0:08:48.135 –> 0:08:48.255
Yeah.

0:08:48.615 –> 0:08:50.856
Well, you know, it’s interesting.

0:08:51.336 –> 0:08:52.437
My business partner and

0:08:52.457 –> 0:08:53.357
co-founder in Dallas,

0:08:53.398 –> 0:08:54.339
we had started talking

0:08:55.058 –> 0:08:56.058
months before the pandemic

0:08:56.078 –> 0:08:57.200
and we had a fairly simple

0:08:57.320 –> 0:08:59.721
thesis is we could go buy select,

0:08:59.740 –> 0:09:00.581
serve and extend to stay

0:09:00.620 –> 0:09:02.501
product at an eight or nine cap,

0:09:02.741 –> 0:09:04.523
put debt on it at 4%, you know,

0:09:04.802 –> 0:09:06.604
deliver a 12% or so return

0:09:06.644 –> 0:09:07.565
to the investor base.

0:09:08.144 –> 0:09:09.345
And that should be pretty

0:09:09.384 –> 0:09:10.946
easy and just wash, rinse, repeat.

0:09:11.186 –> 0:09:12.447
And then all of a sudden COVID hit.

0:09:13.350 –> 0:09:14.932
And and we kind of put a

0:09:14.972 –> 0:09:16.414
cold towel around our head and said, OK,

0:09:16.434 –> 0:09:17.336
this is either the greatest

0:09:17.416 –> 0:09:18.017
time in the world.

0:09:18.437 –> 0:09:18.616
Right.

0:09:18.817 –> 0:09:20.139
Perhaps the worst time in the world.

0:09:20.198 –> 0:09:21.341
And that’s kind of how the

0:09:21.380 –> 0:09:22.461
discussion went with my wife.

0:09:22.522 –> 0:09:23.682
And she still thinks I

0:09:23.722 –> 0:09:24.264
should have my head

0:09:24.283 –> 0:09:25.745
examined periodically.

0:09:25.806 –> 0:09:27.427
But but subsequent to that,

0:09:27.587 –> 0:09:29.330
we it’s been exhilarating.

0:09:29.370 –> 0:09:30.010
It’s been fun.

0:09:30.051 –> 0:09:31.292
And I think there’s a real niche.

0:09:32.153 –> 0:09:33.315
for smaller management

0:09:33.335 –> 0:09:34.275
companies with all due

0:09:34.316 –> 0:09:35.418
respect to the behemoths in

0:09:35.437 –> 0:09:37.480
there uh there are too many

0:09:37.600 –> 0:09:39.062
and and some of the whether

0:09:39.082 –> 0:09:41.085
we’ve uh you know inherited

0:09:41.105 –> 0:09:42.206
a management contract or

0:09:42.407 –> 0:09:43.828
bought the property there’s

0:09:43.869 –> 0:09:46.852
so many owners out there that

0:09:47.812 –> 0:09:49.313
don’t want to be one of a thousand.

0:09:49.933 –> 0:09:51.495
And they want to have

0:09:51.995 –> 0:09:53.235
personal direct involvement

0:09:53.336 –> 0:09:54.336
from the principals of the

0:09:54.376 –> 0:09:55.177
management company.

0:09:55.937 –> 0:09:56.938
And we’ve had great success.

0:09:57.719 –> 0:09:59.159
And because of our size,

0:09:59.200 –> 0:09:59.961
we can pick and choose

0:10:00.000 –> 0:10:01.020
which ownership groups we

0:10:01.041 –> 0:10:02.761
want to work with that are

0:10:02.802 –> 0:10:03.663
committed to running good

0:10:03.702 –> 0:10:05.823
hotels and reinvesting

0:10:05.844 –> 0:10:06.845
capital where necessary.

0:10:07.565 –> 0:10:08.085
in the product.

0:10:08.566 –> 0:10:09.306
And we’ve been great.

0:10:09.466 –> 0:10:12.726
And so far we’ve grown it to 13 properties,

0:10:12.726 –> 0:10:13.527
1300 guest rooms.

0:10:13.787 –> 0:10:15.268
And what the stat I’m most

0:10:15.307 –> 0:10:17.048
proud of is almost 400 employees.

0:10:17.928 –> 0:10:19.389
And that’s really, really exciting.

0:10:20.009 –> 0:10:20.529
All right.

0:10:20.850 –> 0:10:23.029
So you’re sitting there, it’s day one,

0:10:23.410 –> 0:10:25.230
you got no business going on.

0:10:25.311 –> 0:10:26.772
How the heck do you start

0:10:26.851 –> 0:10:28.851
creating momentum for yourself?

0:10:29.653 –> 0:10:31.113
And emotionally,

0:10:31.173 –> 0:10:32.254
how do you keep positive

0:10:32.293 –> 0:10:33.073
during that period?

0:10:35.121 –> 0:10:36.263
Really, really good,

0:10:36.383 –> 0:10:37.243
really great questions.

0:10:37.982 –> 0:10:39.724
We were very fortunate in my

0:10:39.764 –> 0:10:41.203
business partner had three

0:10:41.244 –> 0:10:42.083
hotels that were third

0:10:42.104 –> 0:10:43.725
party managed that we knew

0:10:43.764 –> 0:10:44.924
we could transition in house.

0:10:44.945 –> 0:10:46.225
And that gave us a foothold.

0:10:46.265 –> 0:10:46.966
That gave us a little bit of

0:10:47.005 –> 0:10:49.326
revenue coming in and a place to start.

0:10:49.386 –> 0:10:50.386
And without that,

0:10:50.427 –> 0:10:52.008
it would have been a yeoman’s effort.

0:10:52.048 –> 0:10:53.827
But that gave us a little bit of base.

0:10:53.988 –> 0:10:54.768
And then we just started

0:10:54.788 –> 0:10:55.408
growing from there.

0:10:55.469 –> 0:10:56.889
And we’ve acquired some properties.

0:10:56.969 –> 0:10:58.409
We’ve added some third party contracts.

0:10:59.990 –> 0:11:00.530
Interestingly,

0:11:00.551 –> 0:11:02.611
the advice we got going into

0:11:02.692 –> 0:11:04.673
it from some fairly senior

0:11:04.692 –> 0:11:06.254
people was it would be

0:11:06.293 –> 0:11:07.114
impossible to hire.

0:11:07.835 –> 0:11:08.014
Right.

0:11:08.195 –> 0:11:09.436
Because we didn’t have growth prospects.

0:11:09.495 –> 0:11:13.597
And we found that to be absolute, you know,

0:11:13.857 –> 0:11:14.479
to the contrary.

0:11:14.839 –> 0:11:16.700
And what’s happening in our industry is,

0:11:17.480 –> 0:11:17.760
you know,

0:11:18.140 –> 0:11:19.841
really talented GM joins a big

0:11:19.881 –> 0:11:21.342
management company and they say,

0:11:21.383 –> 0:11:22.624
here’s my career progression.

0:11:23.303 –> 0:11:24.043
And I want to do X,

0:11:24.445 –> 0:11:25.884
Y and Z. And that regional

0:11:25.904 –> 0:11:26.966
that’s hiring promises.

0:11:27.306 –> 0:11:27.667
Perfect.

0:11:28.246 –> 0:11:28.427
Perfect.

0:11:29.267 –> 0:11:30.868
And that regional has traded.

0:11:30.888 –> 0:11:32.788
There are three regionals down the road.

0:11:33.009 –> 0:11:34.349
Those career discussions are

0:11:34.369 –> 0:11:37.590
gone and they feel like they’re lost.

0:11:38.311 –> 0:11:40.471
And we’ve been fortunate to

0:11:40.731 –> 0:11:42.231
add some really talented

0:11:42.351 –> 0:11:45.113
general managers where we

0:11:45.133 –> 0:11:46.413
can focus on growing their career,

0:11:46.474 –> 0:11:47.374
knowing where they need help,

0:11:47.774 –> 0:11:48.754
where they have opportunity,

0:11:48.794 –> 0:11:49.794
what they want to accomplish,

0:11:50.716 –> 0:11:52.395
and really refocus on their

0:11:52.416 –> 0:11:53.135
career that they weren’t

0:11:53.155 –> 0:11:54.336
getting at some of these larger shops.

0:11:54.571 –> 0:11:54.691
Right.

0:11:54.730 –> 0:11:56.251
And also, anecdotally,

0:11:56.292 –> 0:11:57.231
I’ve noticed from the

0:11:57.392 –> 0:11:58.732
LinkedIn universe that a

0:11:58.793 –> 0:11:59.653
lot of people are leaving

0:11:59.693 –> 0:12:00.894
some of these larger companies.

0:12:00.913 –> 0:12:01.114
No,

0:12:01.414 –> 0:12:02.955
nothing against these larger companies.

0:12:03.054 –> 0:12:04.155
They serve a great purpose

0:12:04.176 –> 0:12:06.017
for specific for specific people.

0:12:06.537 –> 0:12:08.398
But sometimes you get to a

0:12:08.477 –> 0:12:09.318
point in one of those

0:12:09.399 –> 0:12:10.558
organizations where you

0:12:10.599 –> 0:12:12.120
kind of miss doing what

0:12:12.179 –> 0:12:14.041
you’re doing more hands on and stuff.

0:12:14.081 –> 0:12:15.322
And I’m seeing a lot of folks that.

0:12:15.922 –> 0:12:16.982
Go up there.

0:12:17.283 –> 0:12:18.982
They get trained and stuff.

0:12:19.003 –> 0:12:20.043
They feel really good about it.

0:12:20.063 –> 0:12:21.684
But when they need that next challenge,

0:12:22.184 –> 0:12:23.966
then they go somewhere and

0:12:23.985 –> 0:12:24.725
they create their own

0:12:24.785 –> 0:12:25.947
organization or they start

0:12:25.986 –> 0:12:26.767
working with some of these

0:12:26.846 –> 0:12:28.707
smaller firms that are out there.

0:12:30.038 –> 0:12:30.678
You’re absolutely right.

0:12:30.719 –> 0:12:31.058
I mean,

0:12:31.479 –> 0:12:32.860
we’re small enough where we get

0:12:32.879 –> 0:12:34.301
together in a room, same room,

0:12:34.581 –> 0:12:35.481
once a month and go through

0:12:35.501 –> 0:12:38.543
financials of every property.

0:12:39.283 –> 0:12:41.686
And every general manager

0:12:41.745 –> 0:12:43.386
presents what worked, what didn’t.

0:12:43.966 –> 0:12:45.248
And they trade ideas for

0:12:45.607 –> 0:12:46.729
whether it’s breakfast costs,

0:12:46.788 –> 0:12:47.589
whether it’s labor,

0:12:47.629 –> 0:12:48.470
whether it’s overtime.

0:12:49.149 –> 0:12:51.130
A lot of times I just sit

0:12:51.171 –> 0:12:52.451
back and listen because

0:12:52.471 –> 0:12:53.272
there’s some great ideas

0:12:53.312 –> 0:12:54.493
going around with really

0:12:54.552 –> 0:12:55.714
true professionals in the industry.

0:12:56.552 –> 0:12:58.333
So when you think about great ideas,

0:12:58.413 –> 0:13:00.335
what are some that you’ve

0:13:00.355 –> 0:13:01.336
come across recently?

0:13:03.657 –> 0:13:05.258
Probably the biggest thing

0:13:06.018 –> 0:13:07.139
since the pandemic that’s

0:13:07.339 –> 0:13:09.340
point of discussion is breakfast.

0:13:09.620 –> 0:13:10.740
In many of our hotels,

0:13:10.780 –> 0:13:12.020
we have a complimentary breakfast.

0:13:12.761 –> 0:13:14.942
And what to serve, how to serve it,

0:13:15.543 –> 0:13:17.364
what’s it cost, how much to put out.

0:13:17.904 –> 0:13:19.264
Coming out of the pandemic,

0:13:19.304 –> 0:13:20.245
everything was pre-wrapped.

0:13:21.465 –> 0:13:23.245
It was great, but it was very expensive.

0:13:23.686 –> 0:13:24.865
And we found a lot of guests

0:13:24.905 –> 0:13:26.067
went shopping and they

0:13:26.086 –> 0:13:27.407
would get their lunch and

0:13:27.447 –> 0:13:28.048
all of a sudden we hit.

0:13:28.307 –> 0:13:29.268
So that didn’t work.

0:13:29.488 –> 0:13:29.687
You know,

0:13:29.707 –> 0:13:30.828
all of a sudden where breakfast

0:13:30.849 –> 0:13:32.448
traditionally was three to

0:13:32.489 –> 0:13:33.250
three and a half dollars

0:13:33.309 –> 0:13:35.250
per occupied room shot for six days.

0:13:35.571 –> 0:13:37.350
Well, that’s not going to work long term.

0:13:37.530 –> 0:13:39.312
So trying to find a happy medium,

0:13:40.253 –> 0:13:41.192
it’s one of the most

0:13:41.253 –> 0:13:42.173
important things we deliver

0:13:42.212 –> 0:13:43.333
to the guests and it

0:13:43.354 –> 0:13:44.033
creates a lot of value,

0:13:44.134 –> 0:13:45.254
but it’s got to be warm.

0:13:45.394 –> 0:13:46.134
It’s got to be fresh.

0:13:46.455 –> 0:13:47.294
It’s got to be pleasant.

0:13:48.296 –> 0:13:49.436
And sitting in a plastic

0:13:49.576 –> 0:13:50.797
Schaefer disc that’s wrapped,

0:13:51.317 –> 0:13:52.278
doesn’t accomplish anything.

0:13:52.639 –> 0:13:52.820
Right.

0:13:53.120 –> 0:13:53.701
Hey, Anthony,

0:13:54.202 –> 0:13:56.768
you got some sort of reverb now going on.

0:13:57.809 –> 0:13:58.291
How about now?

0:13:58.311 –> 0:13:59.413
All right, go for it.

0:14:00.836 –> 0:14:01.298
Is this good?

0:14:02.099 –> 0:14:02.259
Yeah.

0:14:02.419 –> 0:14:02.500
Yeah.

0:14:03.609 –> 0:14:03.889
You know,

0:14:03.948 –> 0:14:05.509
that seems to be the billion

0:14:05.529 –> 0:14:06.490
dollar question that

0:14:06.570 –> 0:14:08.230
everybody wrestles with every day.

0:14:09.010 –> 0:14:10.091
And there’s there’s all

0:14:10.152 –> 0:14:11.211
kinds of schools of thought.

0:14:11.351 –> 0:14:12.533
But you had the most

0:14:12.613 –> 0:14:13.552
articulate school of

0:14:13.592 –> 0:14:15.793
thought that it has to be affordable,

0:14:16.193 –> 0:14:18.475
but you can’t it can’t be mediocre.

0:14:19.155 –> 0:14:19.855
And I don’t know if

0:14:19.916 –> 0:14:20.897
anybody’s ever solved that

0:14:20.937 –> 0:14:21.736
problem was ever going to

0:14:21.777 –> 0:14:22.397
solve the problem.

0:14:22.417 –> 0:14:23.878
Yeah.

0:14:24.653 –> 0:14:25.673
Your breakfast and the

0:14:25.693 –> 0:14:26.673
breakfast course probably

0:14:26.693 –> 0:14:28.075
has the most influence on

0:14:28.115 –> 0:14:29.495
your overall guest course

0:14:30.017 –> 0:14:30.657
of anything you do.

0:14:31.076 –> 0:14:31.337
I mean,

0:14:31.658 –> 0:14:33.818
besides hot water and Internet and

0:14:33.859 –> 0:14:35.259
clean bed, your breakfast,

0:14:35.279 –> 0:14:36.760
you can really either move

0:14:36.780 –> 0:14:38.422
the needle positively or be

0:14:38.522 –> 0:14:39.482
a big detractor.

0:14:40.124 –> 0:14:40.783
And we’ve done both.

0:14:41.465 –> 0:14:43.846
And it’s easier said than done,

0:14:44.206 –> 0:14:44.807
but it’s critical.

0:14:45.647 –> 0:14:47.708
Yeah, and it’s the most important thing.

0:14:48.424 –> 0:14:50.206
moment because there’s not

0:14:50.245 –> 0:14:51.466
as many contact points as

0:14:51.486 –> 0:14:52.148
there used to be.

0:14:52.467 –> 0:14:53.048
There’s, you know,

0:14:53.067 –> 0:14:54.269
we’re taking services away

0:14:54.389 –> 0:14:56.630
little by little and it’s

0:14:56.770 –> 0:14:58.131
the way I start my day.

0:14:58.851 –> 0:14:59.572
And, you know,

0:14:59.592 –> 0:15:02.095
I have a different diet than

0:15:02.154 –> 0:15:03.054
other people and they have

0:15:03.075 –> 0:15:03.816
a different diet than me.

0:15:04.416 –> 0:15:06.498
And if I can’t find my egg white,

0:15:06.697 –> 0:15:08.438
if I can’t find my turkey bacon,

0:15:08.499 –> 0:15:09.759
or I can’t find my oatmeal,

0:15:10.889 –> 0:15:12.330
Um, that’s a problem for me.

0:15:12.389 –> 0:15:13.850
I can’t eat regular eggs.

0:15:13.909 –> 0:15:14.291
I can’t eat.

0:15:14.311 –> 0:15:14.910
So, so,

0:15:14.951 –> 0:15:16.251
and I’m not eating a donut and I’m

0:15:16.272 –> 0:15:17.011
not eating a bagel.

0:15:17.432 –> 0:15:18.753
So I need it simple.

0:15:19.113 –> 0:15:20.513
But then when I’m on the weekend,

0:15:20.533 –> 0:15:22.153
if I’m traveling with my kids or my wife,

0:15:22.594 –> 0:15:24.034
then I want maybe all of that.

0:15:24.294 –> 0:15:25.895
So, you know, but it’s expensive.

0:15:26.576 –> 0:15:27.277
It’s very expensive.

0:15:27.277 –> 0:15:27.317
$3,

0:15:27.317 –> 0:15:28.677
$3.50 is what I remember paying 20

0:15:28.677 –> 0:15:28.876
years ago.

0:15:28.897 –> 0:15:28.976
Yeah.

0:15:32.886 –> 0:15:36.110
So, you know, and $6 people like, well, $6,

0:15:36.110 –> 0:15:37.551
if you’re paying $200 for a room,

0:15:37.890 –> 0:15:38.772
it’s not a lot, but that’s $6.

0:15:38.772 –> 0:15:39.952
It adds up.

0:15:40.293 –> 0:15:40.653
Okay.

0:15:41.073 –> 0:15:42.595
Plus, plus, plus, plus everything else.

0:15:42.995 –> 0:15:43.395
It adds up.

0:15:43.456 –> 0:15:44.336
And plus, like you said,

0:15:44.777 –> 0:15:45.998
how do we prevent the shopping?

0:15:48.019 –> 0:15:48.159
Yeah.

0:15:48.441 –> 0:15:48.980
Yeah.

0:15:49.020 –> 0:15:49.942
That’s, that’s a big issue.

0:15:50.888 –> 0:15:51.368
Yeah.

0:15:51.447 –> 0:15:52.869
Suzanne, our producer, said,

0:15:52.908 –> 0:15:53.589
how do we feel about

0:15:53.609 –> 0:15:54.750
service charges for breakfast?

0:15:55.049 –> 0:15:55.330
Listen,

0:15:55.370 –> 0:15:56.331
people are done with service

0:15:56.350 –> 0:15:57.311
charges and resort fees.

0:15:57.350 –> 0:15:58.652
And the person that started

0:15:58.672 –> 0:16:00.552
resort fees is not a very

0:16:00.592 –> 0:16:01.493
nice person anymore.

0:16:01.552 –> 0:16:04.595
So it’s a problem.

0:16:05.116 –> 0:16:06.557
Yeah, it’s a big problem,

0:16:06.618 –> 0:16:07.317
especially now they’re

0:16:07.337 –> 0:16:08.759
catching on to parking fees

0:16:08.899 –> 0:16:10.460
and breathing fees and

0:16:10.519 –> 0:16:11.780
heartbeat fees and all that

0:16:11.821 –> 0:16:12.402
kind of stuff.

0:16:12.422 –> 0:16:14.163
But that’s a talk for another day.

0:16:14.682 –> 0:16:14.863
Chris,

0:16:14.903 –> 0:16:17.264
I really like when the breakfast

0:16:17.304 –> 0:16:18.404
doesn’t have any wrapping to it.

0:16:18.424 –> 0:16:19.405
I like my stuff fresh.

0:16:19.446 –> 0:16:20.787
But the one mystery that no

0:16:20.807 –> 0:16:21.527
one seems to be able to

0:16:21.567 –> 0:16:22.947
figure out is how to

0:16:23.107 –> 0:16:25.089
deliver a banana that’s not

0:16:25.208 –> 0:16:27.431
green or rotted brown.

0:16:27.471 –> 0:16:28.591
I’d love something in

0:16:28.731 –> 0:16:30.913
between along with my cup of coffee,

0:16:30.952 –> 0:16:31.753
and that would make me happy.

0:16:33.443 –> 0:16:34.384
If we could figure that out,

0:16:34.423 –> 0:16:35.764
we’d be geniuses because

0:16:35.784 –> 0:16:37.225
that is a lot easier said than done.

0:16:38.586 –> 0:16:38.806
Yeah.

0:16:39.186 –> 0:16:40.645
So your really cool

0:16:40.745 –> 0:16:42.907
locations with your hotels, you know,

0:16:42.966 –> 0:16:45.028
Hot Springs, Arkansas, Fort Worth, Texas,

0:16:45.067 –> 0:16:46.327
you got a property coming,

0:16:46.827 –> 0:16:49.028
multiple places in Colorado.

0:16:49.149 –> 0:16:51.129
What is the pool of

0:16:51.190 –> 0:16:52.370
professionals like over

0:16:52.389 –> 0:16:53.250
there that are interested

0:16:53.289 –> 0:16:54.410
in either entering

0:16:54.490 –> 0:16:56.691
hospitality or want to

0:16:56.730 –> 0:16:57.951
continue to pursue a career

0:16:58.231 –> 0:16:58.932
in hospitality?

0:16:59.744 –> 0:17:00.725
Yeah, we’re fortunate.

0:17:00.784 –> 0:17:01.645
We’ve been in markets that

0:17:01.686 –> 0:17:03.467
have had substantial red

0:17:03.508 –> 0:17:04.769
car growth coming out of COVID.

0:17:06.330 –> 0:17:06.971
We’re actually at the point

0:17:06.990 –> 0:17:08.112
where probably it’s been a

0:17:08.152 –> 0:17:09.012
year since we’ve done any

0:17:09.053 –> 0:17:10.054
comparisons against 2019.

0:17:10.054 –> 0:17:10.454
Right.

0:17:11.836 –> 0:17:12.517
We know we’re fortunate.

0:17:12.557 –> 0:17:13.597
Not every market is like that.

0:17:13.998 –> 0:17:14.878
But the markets we’re in,

0:17:16.099 –> 0:17:17.402
COVID’s in the rearview mirror.

0:17:17.442 –> 0:17:19.063
And we’re well past that top line.

0:17:19.364 –> 0:17:20.904
Yeah, same here on our show.

0:17:21.204 –> 0:17:21.405
Mm-hmm.

0:17:22.170 –> 0:17:22.951
So the question is,

0:17:22.990 –> 0:17:23.931
how do you attract and

0:17:23.990 –> 0:17:26.873
retain really talented team members?

0:17:27.213 –> 0:17:28.074
And it’s tough.

0:17:28.094 –> 0:17:29.255
And you’ve got to be uber

0:17:29.275 –> 0:17:30.215
focused on their career.

0:17:31.215 –> 0:17:31.797
And when I say that,

0:17:32.257 –> 0:17:34.318
not every GM wants to go

0:17:34.358 –> 0:17:35.358
from a select serve to a

0:17:35.398 –> 0:17:37.080
full serve to above property.

0:17:37.520 –> 0:17:37.820
Right.

0:17:38.521 –> 0:17:40.143
Some of them are content where they are.

0:17:40.202 –> 0:17:41.304
Some of them are waiting for

0:17:42.023 –> 0:17:42.884
kids to graduate from high

0:17:42.904 –> 0:17:43.805
school before they’ll take

0:17:44.006 –> 0:17:44.506
a different career.

0:17:44.526 –> 0:17:46.426
So you need to ask the questions,

0:17:46.547 –> 0:17:48.788
be cognizant, whether it’s a GM or DOS.

0:17:49.269 –> 0:17:50.029
What are they there for?

0:17:51.151 –> 0:17:52.574
If they’re there to provide

0:17:52.614 –> 0:17:53.855
for their family until the

0:17:53.875 –> 0:17:55.198
kids are out of college, great.

0:17:55.578 –> 0:17:56.380
We can solve that.

0:17:56.881 –> 0:17:57.961
If they want to move up the chain,

0:17:58.323 –> 0:17:59.183
we can work with that too.

0:17:59.644 –> 0:18:00.866
But I think asking the

0:18:00.926 –> 0:18:02.789
questions and having really

0:18:02.829 –> 0:18:03.951
important touch points on a

0:18:03.991 –> 0:18:04.834
regular basis is

0:18:06.182 –> 0:18:08.483
We know all of our GMs and

0:18:08.503 –> 0:18:09.724
DOS and leadership very well.

0:18:10.164 –> 0:18:11.145
We know what their strengths are.

0:18:11.165 –> 0:18:13.748
We also know where they’re not strong.

0:18:14.407 –> 0:18:16.549
And how do I sit down?

0:18:16.569 –> 0:18:17.990
I’m thinking one in particular,

0:18:18.471 –> 0:18:19.652
really talented individual,

0:18:19.971 –> 0:18:21.173
fairly new to the GM role,

0:18:23.054 –> 0:18:24.234
needs help on financials.

0:18:24.255 –> 0:18:25.675
So we spend a lot of time on

0:18:25.695 –> 0:18:27.657
the financials of knowing, okay,

0:18:28.018 –> 0:18:28.979
if X happens,

0:18:29.798 –> 0:18:32.621
what’s likely to happen for Y on the P&L?

0:18:33.020 –> 0:18:33.781
If I get a big group,

0:18:34.462 –> 0:18:36.044
it’s intermediated I got to

0:18:36.064 –> 0:18:36.683
be thoughtful that I’m

0:18:36.703 –> 0:18:37.223
going to have a big

0:18:37.263 –> 0:18:39.525
commission coming on and

0:18:39.664 –> 0:18:41.244
and the the pros and cons

0:18:41.285 –> 0:18:42.105
of that and really

0:18:42.165 –> 0:18:42.806
educating them on the

0:18:42.846 –> 0:18:44.626
financial statements uh is

0:18:44.686 –> 0:18:47.326
is critical uh so so that

0:18:47.748 –> 0:18:48.488
you know to me that’s how

0:18:48.528 –> 0:18:49.708
we recruit is being very

0:18:49.748 –> 0:18:51.169
thoughtful of what our

0:18:51.209 –> 0:18:52.009
individuals want to do in

0:18:52.028 –> 0:18:53.450
their career and then we

0:18:53.490 –> 0:18:54.470
get them to where they want to be

0:18:54.730 –> 0:18:55.329
Totally, Chris.

0:18:55.450 –> 0:18:57.191
It sounds to me like last

0:18:57.230 –> 0:18:58.531
week I was speaking at

0:18:58.571 –> 0:18:59.573
another management company

0:18:59.633 –> 0:19:00.712
and I did a keynote speech

0:19:00.792 –> 0:19:01.894
and we were talking about a

0:19:01.933 –> 0:19:02.953
lot of these things where I

0:19:02.993 –> 0:19:04.255
was since it was a speech.

0:19:04.775 –> 0:19:05.935
One of the things I was

0:19:06.016 –> 0:19:08.116
preaching was the stay interview.

0:19:08.596 –> 0:19:09.718
And I don’t hear enough

0:19:09.758 –> 0:19:10.959
people talking about that.

0:19:10.999 –> 0:19:12.378
It sounds to me like that’s

0:19:12.419 –> 0:19:15.121
exactly what you’re talking about here,

0:19:15.260 –> 0:19:17.041
either formal or informally.

0:19:17.832 –> 0:19:18.791
You’re right.

0:19:18.952 –> 0:19:19.833
It’s a great concept.

0:19:20.252 –> 0:19:21.113
We do it informally,

0:19:21.173 –> 0:19:22.673
but those conversations

0:19:23.054 –> 0:19:23.973
have to happen and have to

0:19:23.993 –> 0:19:24.934
happen on a regular basis

0:19:24.954 –> 0:19:26.075
because otherwise you lose touch.

0:19:26.674 –> 0:19:27.454
And the other thing I’d say

0:19:27.474 –> 0:19:28.435
is you really need to know

0:19:29.115 –> 0:19:29.736
your team members.

0:19:29.996 –> 0:19:30.316
I mean,

0:19:31.297 –> 0:19:32.537
I looked across our portfolio the

0:19:32.596 –> 0:19:32.836
other day.

0:19:32.856 –> 0:19:35.798
So we we skew 400 odd employees.

0:19:36.518 –> 0:19:39.419
We skew really strong a female.

0:19:39.439 –> 0:19:40.619
We’ve got 63 percent are

0:19:40.640 –> 0:19:42.420
female versus U.S.

0:19:42.440 –> 0:19:43.161
workforce of 57 percent.

0:19:44.481 –> 0:19:46.843
their median age is 35

0:19:46.843 –> 0:19:48.463
versus the median age in

0:19:48.483 –> 0:19:50.806
the US workforce of 42.

0:19:50.806 –> 0:19:52.666
And over a third of our team

0:19:52.707 –> 0:19:53.767
members are under 30.

0:19:53.767 –> 0:19:55.567
And why we think about that is,

0:19:56.449 –> 0:19:57.469
what does that mean for benefits?

0:19:57.990 –> 0:19:59.269
How do we structure stuff

0:19:59.289 –> 0:20:00.171
that’s meaningful to them?

0:20:00.891 –> 0:20:02.152
I love our 401k program.

0:20:02.211 –> 0:20:03.353
Our 401k program is great,

0:20:03.952 –> 0:20:04.692
but the reality is with a

0:20:04.712 –> 0:20:06.334
third of our workforce under 30.

0:20:06.334 –> 0:20:07.755
They’re not even thinking about it.

0:20:07.775 –> 0:20:08.474
They don’t care about it.

0:20:08.816 –> 0:20:10.717
So how do we craft benefits

0:20:11.057 –> 0:20:12.298
that make it meaningful to them?

0:20:13.097 –> 0:20:14.219
We implemented something

0:20:15.038 –> 0:20:16.539
early on and a lot of our

0:20:16.619 –> 0:20:17.540
peers do the same thing,

0:20:17.580 –> 0:20:20.362
which allow access between

0:20:20.382 –> 0:20:22.782
pay periods for earned wages.

0:20:23.384 –> 0:20:25.005
And so you can work today.

0:20:26.194 –> 0:20:27.296
your get your wages tomorrow

0:20:27.355 –> 0:20:28.316
even if it’s between pay

0:20:28.355 –> 0:20:30.497
periods uh for the ones

0:20:30.517 –> 0:20:31.238
that actively use it

0:20:31.317 –> 0:20:32.218
they’re pulling out money

0:20:32.458 –> 0:20:33.378
on an average of two times

0:20:33.459 –> 0:20:34.699
per month an average

0:20:34.739 –> 0:20:36.420
withdrawal of 95 but that

0:20:37.000 –> 0:20:38.721
allows us to while we’re

0:20:38.760 –> 0:20:39.582
not competing with the gig

0:20:39.622 –> 0:20:41.142
economy it’s very similar

0:20:41.162 –> 0:20:42.083
to how gig economy works

0:20:42.103 –> 0:20:43.202
you drive uber tonight you

0:20:43.222 –> 0:20:44.663
get paid tomorrow I want to

0:20:44.683 –> 0:20:46.285
be seamless you know if

0:20:46.684 –> 0:20:47.645
rent is due on the first

0:20:47.826 –> 0:20:48.986
and my pay period is until

0:20:49.006 –> 0:20:50.586
the fifth I don’t want a

0:20:50.626 –> 0:20:52.107
team member having to pay a late fee

0:20:53.003 –> 0:20:53.364
Totally.

0:20:53.403 –> 0:20:54.224
Because they’re waiting for

0:20:54.244 –> 0:20:54.965
me to pay them when they’ve

0:20:54.986 –> 0:20:55.846
already earned those wages.

0:20:56.047 –> 0:20:56.928
So we need to give them a

0:20:56.968 –> 0:20:58.589
vehicle to get those wages.

0:20:59.171 –> 0:21:00.030
Yeah, that’s pretty awesome.

0:21:00.132 –> 0:21:01.292
I’m laughing over here

0:21:01.313 –> 0:21:02.594
because I remember when I

0:21:03.494 –> 0:21:04.496
had my first apartment in

0:21:04.516 –> 0:21:05.778
Manhattan back in the 1990s,

0:21:06.939 –> 0:21:08.560
going through the change on

0:21:08.580 –> 0:21:09.942
the 31st because you had no

0:21:09.981 –> 0:21:10.722
cash and you’re hoping to

0:21:10.762 –> 0:21:11.683
get a couple of slices of

0:21:11.723 –> 0:21:12.365
pizza and a beer.

0:21:14.586 –> 0:21:15.866
So it’d be nice to be able

0:21:15.926 –> 0:21:17.208
to tap into that if you

0:21:17.248 –> 0:21:19.548
only need a few dollars for this or that,

0:21:19.929 –> 0:21:20.749
and you could live a more

0:21:20.828 –> 0:21:22.910
fluid lifestyle that way.

0:21:23.089 –> 0:21:24.691
That’s pretty cool.

0:21:24.711 –> 0:21:25.711
Susanna’s saying,

0:21:25.932 –> 0:21:28.673
why don’t they care about the 401ks?

0:21:29.553 –> 0:21:30.814
I would think, number one,

0:21:31.233 –> 0:21:32.835
their brains aren’t fully developed yet.

0:21:33.015 –> 0:21:33.976
They don’t have any sense

0:21:34.016 –> 0:21:34.696
that they’re going to get

0:21:34.957 –> 0:21:36.898
old and need that sort of thing.

0:21:36.939 –> 0:21:38.099
And I’m just going on the

0:21:38.140 –> 0:21:40.041
idiot that I was back at that age.

0:21:40.423 –> 0:21:41.944
And every dollar wants to be

0:21:42.005 –> 0:21:43.685
converted into immediate

0:21:43.987 –> 0:21:46.690
fun and experience and not

0:21:46.710 –> 0:21:48.371
some sort of amorphous thing 40,

0:21:48.371 –> 0:21:50.053
50 years down the line.

0:21:50.093 –> 0:21:51.634
That would be my guess on that.

0:21:51.654 –> 0:21:53.416
Young people, chime in.

0:21:54.028 –> 0:21:55.409
I think you’re exactly right.

0:21:55.429 –> 0:21:56.569
I would love for them to be

0:21:57.069 –> 0:21:58.371
more invested in a 401k,

0:21:59.050 –> 0:22:00.412
more apt to participate in

0:22:00.432 –> 0:22:00.972
health insurance.

0:22:02.394 –> 0:22:03.173
But when you’re 25,

0:22:03.173 –> 0:22:05.095
retirement’s a long way

0:22:05.115 –> 0:22:06.155
away and you’re somewhat

0:22:06.215 –> 0:22:07.916
invincible from a health standpoint.

0:22:08.298 –> 0:22:08.718
Totally.

0:22:08.998 –> 0:22:09.818
Just don’t take advantage of

0:22:09.858 –> 0:22:11.259
it the way that I think they should,

0:22:12.019 –> 0:22:13.260
but they can make their own choices.

0:22:13.701 –> 0:22:14.642
I didn’t even think injury

0:22:14.682 –> 0:22:15.803
or death was a possibility

0:22:15.823 –> 0:22:17.125
until I was like 30 or

0:22:17.164 –> 0:22:18.205
something like that.

0:22:18.326 –> 0:22:19.426
I was a dummy dumb.

0:22:19.487 –> 0:22:21.509
Kamal Ahmed is saying, hey, Chris,

0:22:22.069 –> 0:22:22.750
have you added any

0:22:22.809 –> 0:22:23.790
additional front of house

0:22:23.830 –> 0:22:25.272
staff since COVID?

0:22:25.313 –> 0:22:25.673
If so,

0:22:25.732 –> 0:22:28.336
what has really been the return on ROI?

0:22:29.676 –> 0:22:31.578
We have not added any

0:22:31.719 –> 0:22:32.859
additional front of house staff.

0:22:33.840 –> 0:22:35.403
We’re staffing very similar

0:22:35.462 –> 0:22:36.403
to what we used to.

0:22:37.744 –> 0:22:38.885
You know, everyone, you know,

0:22:39.106 –> 0:22:40.147
I’m dating myself a little bit,

0:22:40.167 –> 0:22:41.609
but when mobile key started coming out,

0:22:41.670 –> 0:22:43.010
everyone got excited

0:22:43.050 –> 0:22:43.692
because they thought it

0:22:43.711 –> 0:22:45.054
would reduce the front of

0:22:45.114 –> 0:22:46.434
house staffing requirements.

0:22:47.415 –> 0:22:48.096
We haven’t seen that.

0:22:48.116 –> 0:22:49.759
We’ve seen good adoption for mobile key,

0:22:51.020 –> 0:22:52.201
but nothing that will allow

0:22:53.202 –> 0:22:55.385
us to reduce to reduce staff.

0:22:55.806 –> 0:22:56.906
I’m a big proponent of that

0:22:56.967 –> 0:22:58.228
you shouldn’t reduce staff

0:22:58.387 –> 0:22:59.808
in that particular instance

0:22:59.828 –> 0:23:00.750
because you can convert

0:23:00.789 –> 0:23:02.351
those people into brand and

0:23:02.391 –> 0:23:04.011
hotel ambassadors, in my opinion.

0:23:04.893 –> 0:23:05.393
Absolutely.

0:23:05.732 –> 0:23:08.355
Where we reduce staff coming

0:23:08.375 –> 0:23:09.715
out of COVID and put it on

0:23:09.776 –> 0:23:11.096
is when we weren’t doing

0:23:11.136 –> 0:23:12.097
daily housekeeping.

0:23:13.618 –> 0:23:15.681
That actually allowed a lot

0:23:15.701 –> 0:23:16.781
of us to survive because

0:23:16.821 –> 0:23:17.801
there wasn’t staff available.

0:23:18.883 –> 0:23:20.403
to hire uh and it helped

0:23:20.443 –> 0:23:22.605
quite a bit now most brands

0:23:22.644 –> 0:23:24.726
have gravitated towards uh

0:23:24.905 –> 0:23:26.326
you know more of a daily uh

0:23:26.666 –> 0:23:27.508
if anything just a light

0:23:27.548 –> 0:23:29.229
touch uh I wish from a

0:23:29.288 –> 0:23:31.089
sustainability effort that

0:23:31.309 –> 0:23:32.150
that weren’t the case

0:23:32.390 –> 0:23:33.931
because I i we we’re trying

0:23:33.951 –> 0:23:34.912
to do everything we can to

0:23:34.951 –> 0:23:36.792
incent guests at the front

0:23:36.813 –> 0:23:38.233
desk to to make a green

0:23:38.273 –> 0:23:39.994
choice and and to opt out

0:23:40.615 –> 0:23:41.796
uh because it seems dumb to

0:23:41.816 –> 0:23:42.756
be washing all these linens

0:23:42.816 –> 0:23:44.017
and terry’s every single

0:23:44.057 –> 0:23:45.877
day yeah we don’t do at our house

0:23:46.553 –> 0:23:49.276
Are there any where you’re

0:23:49.355 –> 0:23:50.336
using AI right now?

0:23:52.659 –> 0:23:53.559
We are not.

0:23:53.640 –> 0:23:55.642
We spend a lot of time talking about it.

0:23:56.643 –> 0:23:57.304
And I think there’s some

0:23:57.364 –> 0:23:58.265
real opportunities.

0:23:59.266 –> 0:23:59.586
In fact,

0:23:59.645 –> 0:24:01.268
a mutual friend of Glenn and I’s

0:24:01.288 –> 0:24:02.888
we’ve been talking to about, you know,

0:24:03.250 –> 0:24:04.290
in the revenue management world,

0:24:04.371 –> 0:24:05.291
we think there’s opportunity.

0:24:06.896 –> 0:24:09.343
I think for a management company,

0:24:10.605 –> 0:24:12.308
back of house is accounting,

0:24:12.830 –> 0:24:14.073
which is a pain point for

0:24:14.555 –> 0:24:15.336
almost every management

0:24:15.375 –> 0:24:16.358
company I talk to.

0:24:16.699 –> 0:24:17.300
How do you do it?

0:24:18.483 –> 0:24:19.844
accurately, promptly,

0:24:20.423 –> 0:24:21.684
and there’s a lot of accounting.

0:24:21.704 –> 0:24:22.805
I’m an accountant by education,

0:24:22.825 –> 0:24:24.325
so I’m not disparaging accountants,

0:24:25.085 –> 0:24:26.266
but I think there’s a lot

0:24:26.286 –> 0:24:27.465
of opportunities within AI

0:24:27.566 –> 0:24:29.786
to simplify the accounting process,

0:24:29.846 –> 0:24:32.547
whether it’s bank recs or

0:24:32.606 –> 0:24:33.826
daily recons and such.

0:24:33.846 –> 0:24:34.567
I think there’s some real

0:24:34.587 –> 0:24:36.147
opportunities with AI in

0:24:36.167 –> 0:24:39.949
that regard and a revenue management.

0:24:40.368 –> 0:24:41.949
Have you seen anybody using it right yet?

0:24:42.669 –> 0:24:43.489
Any other companies?

0:24:44.029 –> 0:24:44.950
No.

0:24:45.009 –> 0:24:45.470
We spend a

0:24:46.624 –> 0:24:47.403
inordinate amount of time

0:24:47.443 –> 0:24:49.545
talking about it and

0:24:49.805 –> 0:24:50.526
nothing seems to happen.

0:24:51.046 –> 0:24:53.727
And I think, in my opinion,

0:24:53.767 –> 0:24:54.627
when it comes to all sorts

0:24:54.667 –> 0:24:55.768
of new technologies,

0:24:56.647 –> 0:24:58.808
once people stop talking about it,

0:24:58.949 –> 0:25:01.289
that’s actually when it becomes effective,

0:25:01.711 –> 0:25:02.030
you know?

0:25:02.451 –> 0:25:04.592
So we have all of these conversations,

0:25:04.652 –> 0:25:06.333
conversations about how we

0:25:06.373 –> 0:25:07.452
fantasize how it’s gonna be,

0:25:07.492 –> 0:25:08.374
but when you actually go to

0:25:08.394 –> 0:25:09.993
the brass tacks and are actually using it,

0:25:10.473 –> 0:25:11.315
then it’s no longer

0:25:11.375 –> 0:25:12.595
conversation worthy because

0:25:12.634 –> 0:25:13.915
it’s integrated itself into

0:25:14.016 –> 0:25:15.717
our lives over there, so.

0:25:16.317 –> 0:25:16.977
That’s my little tip.

0:25:17.017 –> 0:25:18.077
If people talk about it too much,

0:25:18.617 –> 0:25:20.999
it’s too early to worry about it.

0:25:21.319 –> 0:25:21.440
Yeah.

0:25:21.519 –> 0:25:21.799
Anthony?

0:25:22.339 –> 0:25:23.361
I think it’s eventually

0:25:23.421 –> 0:25:24.661
going to find its way

0:25:25.122 –> 0:25:26.801
naturally into our company,

0:25:27.123 –> 0:25:28.163
into our organizations.

0:25:28.262 –> 0:25:29.223
And I think it’s going to

0:25:29.284 –> 0:25:30.284
come through what you just said,

0:25:30.344 –> 0:25:34.125
accounting, revenue management, sales,

0:25:34.365 –> 0:25:35.086
things like that.

0:25:36.988 –> 0:25:37.248
But

0:25:38.354 –> 0:25:39.615
We make way too many

0:25:39.654 –> 0:25:40.755
mistakes with technology.

0:25:40.795 –> 0:25:41.694
And I think we have a great

0:25:41.734 –> 0:25:43.195
history of making a lot of

0:25:43.215 –> 0:25:44.316
mistakes with bringing in

0:25:44.336 –> 0:25:45.336
technology too quick.

0:25:45.836 –> 0:25:46.876
And either it’s not the

0:25:46.916 –> 0:25:48.238
right technology or we

0:25:48.278 –> 0:25:49.438
don’t know how to use it or

0:25:49.498 –> 0:25:51.939
we don’t train people how to use it.

0:25:51.959 –> 0:25:54.961
And whatever we do with AI,

0:25:55.000 –> 0:25:55.861
it’s going to be expensive.

0:25:55.961 –> 0:25:58.102
So we’ve got to be, like you said,

0:25:58.122 –> 0:26:00.021
I think over-talking it

0:26:00.042 –> 0:26:01.182
right now is probably not a bad idea.

0:26:02.513 –> 0:26:02.773
Yeah,

0:26:02.894 –> 0:26:04.015
you guys hit on this on the show

0:26:04.055 –> 0:26:04.555
yesterday,

0:26:04.615 –> 0:26:07.455
but I think less effort on AI

0:26:07.496 –> 0:26:09.576
and more on just a PMS

0:26:09.596 –> 0:26:11.738
system that is really easy to use.

0:26:12.097 –> 0:26:12.577
And I mean,

0:26:12.958 –> 0:26:15.239
we spend an inordinate amount

0:26:15.259 –> 0:26:16.960
of time training the front

0:26:16.980 –> 0:26:19.019
desk agents on how to use a PMS system,

0:26:19.480 –> 0:26:20.340
and it should be intuitive.

0:26:20.401 –> 0:26:23.201
It should be as intuitive as your iPhone.

0:26:23.741 –> 0:26:24.082
I was in,

0:26:24.102 –> 0:26:25.824
I was at a hotel and I was behind

0:26:25.844 –> 0:26:26.463
the front desk.

0:26:27.144 –> 0:26:28.625
A new young lady started and

0:26:28.665 –> 0:26:29.946
I was looking at their PMS

0:26:29.967 –> 0:26:30.906
system that they use.

0:26:31.508 –> 0:26:34.329
And I literally, I, I, I, I was like,

0:26:34.490 –> 0:26:35.931
Oh my God, it was DOS.

0:26:37.957 –> 0:26:38.616
I’m dead serious.

0:26:38.757 –> 0:26:40.018
And it was a brand.

0:26:40.097 –> 0:26:42.358
It was a brand and it was a DOS system.

0:26:42.659 –> 0:26:43.858
And I almost fell off my feet.

0:26:44.118 –> 0:26:45.279
I did fall off my feet.

0:26:45.339 –> 0:26:46.519
I was like, what?

0:26:46.660 –> 0:26:47.901
I was like, oh my God.

0:26:50.781 –> 0:26:51.842
I think I know the system.

0:26:52.041 –> 0:26:52.803
I think I know the system

0:26:52.823 –> 0:26:53.423
you’re talking about.

0:26:53.742 –> 0:26:54.502
Yeah.

0:26:54.583 –> 0:26:56.683
But for us to expect a digital native,

0:26:56.923 –> 0:26:57.824
you know,

0:26:57.824 –> 0:26:58.744
25 years old to come in and work

0:26:58.964 –> 0:27:00.565
and operate in the DOS environment.

0:27:00.865 –> 0:27:01.046
Right.

0:27:01.645 –> 0:27:03.946
I mean, they don’t know what DOS is.

0:27:04.446 –> 0:27:04.507
No.

0:27:06.527 –> 0:27:07.948
It’s almost so old that it

0:27:08.189 –> 0:27:09.009
may be cool to them.

0:27:09.368 –> 0:27:10.609
Like, wow, this is cool.

0:27:11.111 –> 0:27:11.711
Is this new?

0:27:11.730 –> 0:27:13.992
Is this the new latest technology?

0:27:14.252 –> 0:27:15.794
Put it on a retro t-shirt.

0:27:16.454 –> 0:27:17.575
And I didn’t realize that

0:27:17.595 –> 0:27:20.196
that company still had that system.

0:27:20.257 –> 0:27:21.038
And everybody looked at me

0:27:21.057 –> 0:27:21.897
like I had three heads.

0:27:22.159 –> 0:27:22.759
It’s like, yeah.

0:27:23.219 –> 0:27:23.900
It’s like, what?

0:27:26.102 –> 0:27:27.522
Brian, we see your comment,

0:27:27.603 –> 0:27:28.663
but I’m not going to post

0:27:28.683 –> 0:27:29.384
it because we don’t want to

0:27:29.404 –> 0:27:31.827
call any companies out over here.

0:27:32.208 –> 0:27:33.028
But hey, if we do,

0:27:33.348 –> 0:27:35.050
check out my friends over at Skytouch.

0:27:35.090 –> 0:27:36.531
It’s all Skytouch because

0:27:36.592 –> 0:27:38.153
it’s cloud-based PMS.

0:27:38.233 –> 0:27:40.455
So thanks to them for trying

0:27:40.476 –> 0:27:41.477
to make things a little bit simple.

0:27:41.877 –> 0:27:42.198
But Chris,

0:27:42.238 –> 0:27:43.318
how else are you thinking about

0:27:44.059 –> 0:27:45.801
making lives easier,

0:27:45.821 –> 0:27:48.605
but this time for your customers?

0:27:49.444 –> 0:27:50.026
One of the coolest

0:27:50.066 –> 0:27:50.987
interviews that we did over

0:27:51.027 –> 0:27:54.450
the last year came out with

0:27:54.470 –> 0:27:55.270
the quote of the best

0:27:55.330 –> 0:27:56.511
customer service is not

0:27:56.531 –> 0:27:58.294
having to deliver customer service.

0:27:58.334 –> 0:27:59.335
The whole thing of removing

0:27:59.474 –> 0:28:01.277
friction from the process

0:28:01.317 –> 0:28:02.817
and making it work.

0:28:03.298 –> 0:28:04.559
How are you thinking that

0:28:04.619 –> 0:28:06.461
particular issue through in

0:28:06.561 –> 0:28:08.483
order to let guests control

0:28:08.523 –> 0:28:09.424
their interactions with the

0:28:09.484 –> 0:28:10.685
brands as opposed to being

0:28:10.786 –> 0:28:11.826
forced to interact with

0:28:11.846 –> 0:28:12.428
brands and people?

0:28:13.425 –> 0:28:13.705
I love it.

0:28:13.726 –> 0:28:14.487
I think there’s some real

0:28:14.527 –> 0:28:15.667
opportunity there and

0:28:15.968 –> 0:28:16.848
frictionless is the key.

0:28:18.309 –> 0:28:19.830
There’s times if I’m

0:28:21.271 –> 0:28:22.893
traveling with my family on vacation,

0:28:23.353 –> 0:28:24.534
maybe I wanna have an

0:28:24.554 –> 0:28:25.275
interaction with the front

0:28:25.295 –> 0:28:26.915
desk and pick and choose a

0:28:26.955 –> 0:28:28.257
room and whether or not I

0:28:28.277 –> 0:28:28.797
want an upgrade.

0:28:29.298 –> 0:28:30.198
If I’m traveling for business,

0:28:30.699 –> 0:28:31.638
I wanna go straight to my room.

0:28:32.140 –> 0:28:33.119
I may not wanna talk to anyone,

0:28:33.160 –> 0:28:33.820
it’s nothing personal.

0:28:34.721 –> 0:28:36.542
I just wanted to have a clean room,

0:28:36.563 –> 0:28:38.564
a nice bed, a warm shower,

0:28:39.064 –> 0:28:40.825
and get on with my work.

0:28:40.884 –> 0:28:42.246
So I think there’s

0:28:42.365 –> 0:28:43.267
tremendous opportunity

0:28:43.287 –> 0:28:44.807
within the industry to make

0:28:44.867 –> 0:28:46.368
it less transactional.

0:28:46.528 –> 0:28:48.410
I mean,

0:28:49.070 –> 0:28:50.832
I’m not one to compliment the airlines,

0:28:50.912 –> 0:28:51.692
but what the airlines are

0:28:51.712 –> 0:28:54.473
great at is I can get through security,

0:28:54.493 –> 0:28:56.435
I can get on the plane,

0:28:57.115 –> 0:28:58.997
and my first interaction is

0:28:59.037 –> 0:29:00.198
at 30,000 feet when they

0:29:00.238 –> 0:29:01.318
ask me if I want a cup of coffee.

0:29:02.022 –> 0:29:02.303
Right.

0:29:02.663 –> 0:29:02.844
Yeah.

0:29:02.864 –> 0:29:04.125
I’m into a hotel.

0:29:04.845 –> 0:29:05.865
And the first thing we ask is,

0:29:06.066 –> 0:29:07.106
can I see an ID and proof

0:29:07.146 –> 0:29:08.188
of payment as if they

0:29:08.208 –> 0:29:09.269
weren’t qualified to stay here?

0:29:09.429 –> 0:29:11.029
We’re vetting them.

0:29:11.109 –> 0:29:12.290
And it just it’s the

0:29:12.330 –> 0:29:14.132
antithesis of the business we’re in,

0:29:14.152 –> 0:29:15.753
which is a hospitality business.

0:29:15.953 –> 0:29:17.174
Yeah, I was I was I was.

0:29:18.351 –> 0:29:20.372
I was on with somebody yesterday,

0:29:20.392 –> 0:29:21.892
a customer service person,

0:29:22.432 –> 0:29:23.613
and I’m waiting for them to

0:29:23.633 –> 0:29:26.252
have to do with my banking.

0:29:26.374 –> 0:29:27.413
And I was waiting for them

0:29:27.953 –> 0:29:29.534
to ask me for all my

0:29:29.554 –> 0:29:31.075
information to prove it was me.

0:29:31.654 –> 0:29:32.494
And they’re getting a little

0:29:32.535 –> 0:29:33.135
long in the tooth.

0:29:33.155 –> 0:29:35.215
And I’m like, I’m sorry, can we stop?

0:29:35.256 –> 0:29:36.656
Can you please make sure

0:29:36.676 –> 0:29:37.757
that I’m the guy I am?

0:29:37.777 –> 0:29:38.497
She goes,

0:29:38.636 –> 0:29:40.518
we’ve already authenticated your voice.

0:29:41.423 –> 0:29:44.044
Because now, so you have to sign up.

0:29:44.463 –> 0:29:45.984
And I remember I signed up

0:29:46.045 –> 0:29:46.785
for it and we did this

0:29:46.825 –> 0:29:48.085
little thing and they

0:29:48.144 –> 0:29:50.185
authenticated my voice and

0:29:50.806 –> 0:29:51.905
they went with my voice.

0:29:52.247 –> 0:29:53.686
And I was like, oh, okay.

0:29:54.507 –> 0:29:54.787
Love it.

0:29:55.768 –> 0:29:56.028
Yeah.

0:29:56.827 –> 0:29:57.268
That’s great.

0:29:57.887 –> 0:29:58.249
Yeah.

0:29:58.729 –> 0:30:00.949
Unless it was somebody in a

0:30:00.989 –> 0:30:01.829
third world country that

0:30:01.869 –> 0:30:02.589
just took all my money.

0:30:05.489 –> 0:30:06.650
Yeah, and that’s coming.

0:30:06.970 –> 0:30:07.871
There’s a case out there

0:30:07.911 –> 0:30:09.951
right now about some fake

0:30:10.031 –> 0:30:11.333
voice political-related

0:30:11.432 –> 0:30:13.713
robocalls and stuff like that.

0:30:13.854 –> 0:30:15.474
So I wouldn’t be surprised

0:30:15.536 –> 0:30:16.155
if that happens.

0:30:16.215 –> 0:30:17.817
But I don’t know if I

0:30:17.856 –> 0:30:19.678
mentioned this on air, Chris,

0:30:19.718 –> 0:30:21.479
but I just recently had a

0:30:21.558 –> 0:30:23.820
flight with my airline of choice,

0:30:23.861 –> 0:30:25.541
and I’ve got this new digital ID.

0:30:26.201 –> 0:30:27.663
And when I go up to the

0:30:27.903 –> 0:30:29.984
counter to check in, it goes whoop.

0:30:30.285 –> 0:30:31.066
and it already knows who I

0:30:31.226 –> 0:30:32.846
am and I don’t have to take out my ID,

0:30:33.126 –> 0:30:35.588
combining that with Clear is pretty cool.

0:30:35.929 –> 0:30:36.529
Soon they’re going to have

0:30:36.549 –> 0:30:38.191
that digital ID at the gate

0:30:38.270 –> 0:30:39.352
for all flights too.

0:30:39.912 –> 0:30:41.894
It’s going to be pretty seamless there.

0:30:41.953 –> 0:30:43.634
And that’s kind of fun,

0:30:43.755 –> 0:30:44.516
kind of seeing that

0:30:44.615 –> 0:30:45.936
friction being removed just

0:30:45.997 –> 0:30:48.358
a little bit more from the process.

0:30:48.479 –> 0:30:49.659
And I’m excited to see more

0:30:49.720 –> 0:30:51.300
kinds of cool things like that in hotels,

0:30:51.340 –> 0:30:51.520
I think.

0:30:52.298 –> 0:30:52.940
I think that’s great.

0:30:52.960 –> 0:30:53.759
Can you imagine if you just

0:30:53.799 –> 0:30:55.862
walk into a hotel and they say, Lynn,

0:30:55.902 –> 0:30:56.481
welcome back.

0:30:56.801 –> 0:30:58.603
And the PMS is smart to say, oh,

0:30:58.623 –> 0:30:58.963
by the way,

0:30:58.983 –> 0:31:00.765
how was your trip to Columbus last week?

0:31:01.164 –> 0:31:01.365
Right.

0:31:02.006 –> 0:31:02.145
Right.

0:31:02.185 –> 0:31:04.827
And you’re in room number

0:31:04.827 –> 0:31:06.348
430 because we know that’s

0:31:06.368 –> 0:31:06.868
the room you love.

0:31:06.888 –> 0:31:07.409
All right.

0:31:07.588 –> 0:31:08.750
So let me ask you this question.

0:31:08.990 –> 0:31:09.971
How do you get to that point?

0:31:09.990 –> 0:31:10.611
Because I was also

0:31:10.651 –> 0:31:11.632
complaining about a hotel

0:31:11.672 –> 0:31:13.854
that I’ve stayed at five times.

0:31:14.834 –> 0:31:15.736
because it’s near one of my

0:31:15.776 –> 0:31:17.117
son’s schools and they

0:31:17.178 –> 0:31:18.420
still don’t know that I’ve

0:31:18.500 –> 0:31:20.242
stayed there before, right?

0:31:20.303 –> 0:31:22.405
So how are you enacting

0:31:22.486 –> 0:31:23.907
positivity through knowing

0:31:23.948 –> 0:31:25.431
who’s coming through the door?

0:31:26.636 –> 0:31:27.958
There are two primary ways.

0:31:27.978 –> 0:31:28.178
I mean,

0:31:28.238 –> 0:31:29.238
the technology has got to get

0:31:29.258 –> 0:31:31.318
better in terms of knowing our customer.

0:31:32.019 –> 0:31:34.160
And we should know it as well as, you know,

0:31:34.660 –> 0:31:36.701
Amazon knows us, et cetera.

0:31:36.760 –> 0:31:37.320
And the other thing is

0:31:37.942 –> 0:31:40.102
continuity at the front desk, you know,

0:31:40.261 –> 0:31:42.363
and really having a good

0:31:42.423 –> 0:31:43.324
welcome experience where if

0:31:43.344 –> 0:31:45.484
you’ve been there five times, you know,

0:31:45.585 –> 0:31:46.404
I’d hope the individual

0:31:46.444 –> 0:31:48.086
working that shift would recognize you.

0:31:48.145 –> 0:31:49.046
And they may not know your name.

0:31:49.286 –> 0:31:49.905
They may not,

0:31:49.965 –> 0:31:51.067
but at that time you

0:31:51.086 –> 0:31:53.346
recognize faces sort of,

0:31:53.406 –> 0:31:54.647
but I don’t really rely on

0:31:54.667 –> 0:31:56.587
the human being anymore

0:31:56.627 –> 0:31:58.108
because that’s unfair.

0:31:58.249 –> 0:31:59.009
There’s got to be some sort

0:31:59.028 –> 0:32:00.470
of electronic prompt or something.

0:32:00.950 –> 0:32:01.170
Well,

0:32:01.190 –> 0:32:02.750
and the old trick in front desk is

0:32:03.490 –> 0:32:04.451
it’s always welcome back.

0:32:05.111 –> 0:32:06.451
Now, they may never have been there,

0:32:06.912 –> 0:32:07.832
but they don’t know.

0:32:09.126 –> 0:32:10.928
You don’t know that they… But again,

0:32:11.008 –> 0:32:11.989
it’s pretty simple with the

0:32:12.048 –> 0:32:13.709
system to say when it pops up,

0:32:13.729 –> 0:32:15.750
it’s like third time guest has been here,

0:32:15.769 –> 0:32:16.891
fifth time the guest has been here.

0:32:17.191 –> 0:32:17.931
It’s pretty simple.

0:32:19.112 –> 0:32:19.771
It’s pretty simple.

0:32:19.811 –> 0:32:22.432
And we don’t get the simple things right,

0:32:22.452 –> 0:32:23.114
and it’s insane.

0:32:24.753 –> 0:32:27.155
No, we certainly… That’s in your hotels,

0:32:27.215 –> 0:32:27.675
I’m saying.

0:32:28.855 –> 0:32:30.196
I couldn’t agree more.

0:32:30.436 –> 0:32:31.577
But if they’re a repeat guest,

0:32:32.458 –> 0:32:34.098
it should pop up, big red letters.

0:32:35.458 –> 0:32:40.282
No, I’m still not a Bonvoy member.

0:32:40.864 –> 0:32:42.865
And because when I stay at the hotels,

0:32:43.507 –> 0:32:44.627
I’ve been asked maybe three

0:32:44.647 –> 0:32:45.288
or four times.

0:32:45.789 –> 0:32:46.931
I will tell you I stayed and

0:32:46.951 –> 0:32:47.692
I always say no.

0:32:48.092 –> 0:32:50.714
But I probably would say yes

0:32:50.775 –> 0:32:51.757
if I got asked every time

0:32:51.797 –> 0:32:52.477
just so I don’t have to…

0:32:53.057 –> 0:32:53.657
do it anymore.

0:32:54.577 –> 0:32:55.498
But there’s another brand

0:32:55.538 –> 0:32:57.659
that they asked me 37 times

0:32:57.699 –> 0:32:58.358
every time I’m there.

0:32:58.699 –> 0:32:59.919
And eventually I relented

0:32:59.959 –> 0:33:01.119
and I became a member.

0:33:01.680 –> 0:33:03.660
So it’s about training and

0:33:03.700 –> 0:33:05.819
it’s about repetition.

0:33:05.880 –> 0:33:07.621
And there’s some things that are very,

0:33:07.701 –> 0:33:08.361
very simple.

0:33:08.861 –> 0:33:11.882
It’s okay if you can’t do

0:33:11.961 –> 0:33:13.241
things in the system that

0:33:13.301 –> 0:33:15.461
are perfect or you’re a

0:33:15.501 –> 0:33:16.602
little unsure yourself.

0:33:17.022 –> 0:33:18.643
But the welcome back

0:33:19.563 –> 0:33:20.603
And have a nice day.

0:33:20.623 –> 0:33:21.824
And excuse me,

0:33:22.683 –> 0:33:23.625
let me get my supervisor

0:33:23.644 –> 0:33:24.484
because I’m having problems

0:33:24.525 –> 0:33:26.085
with the technology.

0:33:26.404 –> 0:33:27.105
It’s very simple.

0:33:27.486 –> 0:33:29.026
But they’re not taught that.

0:33:29.145 –> 0:33:30.666
They get overwhelmed.

0:33:31.606 –> 0:33:32.688
And they don’t talk.

0:33:32.887 –> 0:33:33.528
They just look.

0:33:33.768 –> 0:33:34.607
And then you’re also getting

0:33:34.847 –> 0:33:35.689
upset because it’s like,

0:33:35.989 –> 0:33:36.848
just say something.

0:33:36.888 –> 0:33:37.769
Tell me what’s going on.

0:33:37.788 –> 0:33:38.829
You know how many times I

0:33:38.869 –> 0:33:39.730
peer over and I’m like,

0:33:39.809 –> 0:33:40.650
what’s going on over here?

0:33:42.030 –> 0:33:42.371
You know?

0:33:42.851 –> 0:33:43.652
Sometimes you want to help them.

0:33:44.031 –> 0:33:44.892
Yeah.

0:33:45.692 –> 0:33:47.432
I can work that TMS for you.

0:33:48.416 –> 0:33:49.096
All right.

0:33:49.156 –> 0:33:50.377
So, Anthony,

0:33:50.617 –> 0:33:51.438
you really should be

0:33:51.458 –> 0:33:52.478
collecting those points.

0:33:52.778 –> 0:33:54.077
It couldn’t hurt, you know,

0:33:54.377 –> 0:33:55.519
or at least the Knights.

0:33:56.338 –> 0:33:57.439
So that way,

0:33:57.499 –> 0:33:58.920
when you achieve diamond status,

0:33:58.940 –> 0:33:59.819
the people behind the front

0:33:59.859 –> 0:34:02.259
desk will not still give you the water.

0:34:02.861 –> 0:34:05.240
But yeah, I have it.

0:34:05.320 –> 0:34:06.020
And there’s a really good

0:34:06.040 –> 0:34:06.681
reason I have it.

0:34:07.142 –> 0:34:07.362
Yeah.

0:34:07.821 –> 0:34:08.382
I’m an idiot.

0:34:08.681 –> 0:34:08.802
Yeah.

0:34:10.469 –> 0:34:10.610
Hey,

0:34:11.570 –> 0:34:13.472
I got a good swift kick in the head

0:34:13.692 –> 0:34:14.632
many years ago,

0:34:14.952 –> 0:34:16.054
and that urged me to sign

0:34:16.114 –> 0:34:18.155
up with one particular airline,

0:34:18.315 –> 0:34:20.056
and it’s been very helpful

0:34:20.295 –> 0:34:20.775
over the years.

0:34:20.815 –> 0:34:21.117
Well, yeah,

0:34:21.137 –> 0:34:22.496
Delta is definitely very

0:34:22.556 –> 0:34:26.619
helpful because I see effort.

0:34:26.820 –> 0:34:28.641
When I sign up, I get stuff.

0:34:29.240 –> 0:34:30.541
With a lot of these hotel brands,

0:34:30.561 –> 0:34:31.503
you don’t get a lot of stuff.

0:34:31.882 –> 0:34:32.043
No,

0:34:32.262 –> 0:34:34.625
but still I’m signed up for all of them

0:34:35.126 –> 0:34:35.545
anyway,

0:34:35.606 –> 0:34:36.586
because the thought I’m missing

0:34:36.666 –> 0:34:38.228
out on a point or two, you know,

0:34:38.347 –> 0:34:41.070
just hurts me so much.

0:34:41.110 –> 0:34:42.552
Chris, before you wrap up today,

0:34:42.592 –> 0:34:44.052
last question I have for you, sir,

0:34:44.193 –> 0:34:46.215
is what are you in your

0:34:46.295 –> 0:34:47.476
business as a professional?

0:34:48.195 –> 0:34:49.918
Most think is your best,

0:34:50.117 –> 0:34:50.778
that’s the worst sentence.

0:34:51.039 –> 0:34:51.559
What is your best

0:34:51.579 –> 0:34:52.900
opportunity this year to you?

0:34:53.019 –> 0:34:53.621
Do you believe?

0:34:54.561 –> 0:34:56.623
You know, I, you are,

0:34:56.762 –> 0:34:57.983
we kind of tailor to business,

0:34:58.043 –> 0:34:59.284
the operations side of our business.

0:35:00.150 –> 0:35:01.311
really is going extremely well.

0:35:01.612 –> 0:35:03.353
We’re seeing good top line growth.

0:35:04.572 –> 0:35:07.054
Wage pressure has mitigated

0:35:07.135 –> 0:35:08.356
to a large extent.

0:35:09.115 –> 0:35:09.936
So now it’s really about

0:35:10.076 –> 0:35:11.717
maintaining margins and growing margins.

0:35:11.757 –> 0:35:12.757
You got some headwinds.

0:35:14.239 –> 0:35:16.159
As wages increase, insurance is a huge,

0:35:16.179 –> 0:35:18.061
huge headwind for me and a

0:35:18.101 –> 0:35:19.621
lot of my peers, property taxes.

0:35:20.581 –> 0:35:21.902
So the operations side,

0:35:22.182 –> 0:35:23.623
I wouldn’t say I’m relaxed,

0:35:23.664 –> 0:35:24.985
but I’m optimistic that

0:35:25.164 –> 0:35:26.686
it’s gonna be an uneventful year.

0:35:27.507 –> 0:35:28.692
where I think the real

0:35:28.711 –> 0:35:29.775
opportunity comes is on the

0:35:29.916 –> 0:35:31.844
on the investment and growth side uh

0:35:32.625 –> 0:35:34.445
development is challenging

0:35:35.266 –> 0:35:36.306
in just about every market

0:35:36.347 –> 0:35:37.527
because of where construction costs are.

0:35:37.547 –> 0:35:38.867
So I think you’ll see a lot

0:35:38.907 –> 0:35:41.568
more brand conversions or

0:35:41.650 –> 0:35:44.851
acquiring below replacement

0:35:44.871 –> 0:35:46.652
costs and maybe repositioning,

0:35:46.692 –> 0:35:48.672
maybe putting a new brand in.

0:35:49.532 –> 0:35:50.454
Yeah, that reminds me.

0:35:50.494 –> 0:35:51.693
Sorry, I should have mentioned this.

0:35:51.715 –> 0:35:53.155
This AC was supposed to be

0:35:53.195 –> 0:35:56.396
another brand in not a lower segment,

0:35:56.476 –> 0:35:57.757
but a segment that doesn’t

0:35:57.797 –> 0:36:00.438
have as much occupant ADR to it, right?

0:36:00.458 –> 0:36:00.539
Yeah.

0:36:00.838 –> 0:36:05.181
Yeah, so just when we first sourced this,

0:36:05.280 –> 0:36:06.561
it was shut down for COVID.

0:36:07.242 –> 0:36:09.023
It was an older brand.

0:36:09.943 –> 0:36:12.463
And the ownership group,

0:36:12.724 –> 0:36:13.605
the family that owned it

0:36:13.684 –> 0:36:14.885
had envisioned converting

0:36:14.945 –> 0:36:16.726
to brand A. Yeah.

0:36:17.371 –> 0:36:18.273
And we took a look at it and

0:36:18.293 –> 0:36:19.614
we knew real early on that

0:36:19.653 –> 0:36:20.835
we were going to spend more

0:36:20.976 –> 0:36:22.117
in the renovation than we

0:36:22.157 –> 0:36:23.217
actually did to acquire the asset,

0:36:23.257 –> 0:36:23.858
which I don’t think I’ve

0:36:23.898 –> 0:36:25.920
ever done in my life.

0:36:26.460 –> 0:36:28.282
Either you got a really,

0:36:28.362 –> 0:36:29.423
really good deal on that

0:36:29.623 –> 0:36:31.646
asset or you made a lot of

0:36:31.686 –> 0:36:32.646
poor renovation choices.

0:36:34.248 –> 0:36:35.248
I’m hoping it’s the former

0:36:35.289 –> 0:36:37.030
and not not the latter but

0:36:37.630 –> 0:36:39.211
when when we looked at the

0:36:39.251 –> 0:36:40.012
brand universe of what

0:36:40.032 –> 0:36:41.373
brands were available this

0:36:41.934 –> 0:36:42.835
happens to be an ac by

0:36:42.894 –> 0:36:44.757
marriott I knew that with

0:36:44.836 –> 0:36:46.358
what we were doing for the

0:36:46.378 –> 0:36:48.259
renovation that we needed a

0:36:48.298 –> 0:36:49.260
brand that had a lot more

0:36:49.320 –> 0:36:51.262
price elasticity on the adr

0:36:51.842 –> 0:36:52.722
uh to produce a good

0:36:52.742 –> 0:36:53.923
investment and and it’s and

0:36:53.943 –> 0:36:56.606
it’s working exactly as intended um

0:36:57.619 –> 0:36:58.860
And so that’s been exciting.

0:36:58.900 –> 0:37:00.262
The other thing I want to touch on,

0:37:00.742 –> 0:37:02.663
kudos to the local team here.

0:37:02.903 –> 0:37:05.264
This is in Summit County, Colorado.

0:37:05.324 –> 0:37:07.626
But when we did the renovation,

0:37:08.708 –> 0:37:09.708
like many small communities,

0:37:09.748 –> 0:37:11.670
the landfill here is close to capacity.

0:37:12.170 –> 0:37:14.150
So everyone’s very sensitive to, you know,

0:37:14.311 –> 0:37:15.851
when we start renovations as hoteliers,

0:37:15.891 –> 0:37:16.952
too many times we’re

0:37:16.972 –> 0:37:19.295
throwing out mattresses and just kind of,

0:37:20.215 –> 0:37:21.014
not doing the right thing

0:37:21.034 –> 0:37:22.315
from a sustainability standpoint.

0:37:22.335 –> 0:37:23.436
So we partnered with a group

0:37:24.135 –> 0:37:24.976
that did some amazing

0:37:25.016 –> 0:37:27.617
things when we were doing the demolition.

0:37:28.356 –> 0:37:29.257
And I’m proud that we

0:37:30.197 –> 0:37:31.737
recycled 75 mattresses,

0:37:31.818 –> 0:37:32.898
took them back down to Denver,

0:37:34.097 –> 0:37:35.599
broke them apart and took

0:37:35.619 –> 0:37:37.079
the pieces and recycled the parts.

0:37:37.298 –> 0:37:39.960
And we recycled 15,000

0:37:39.960 –> 0:37:40.840
pounds of scrap metal.

0:37:41.579 –> 0:37:42.019
Wow.

0:37:42.420 –> 0:37:43.280
Which is just amazing.

0:37:43.300 –> 0:37:44.740
So that never made it in the landfill.

0:37:45.280 –> 0:37:46.721
And then we also worked with

0:37:46.740 –> 0:37:47.742
this group where we donated

0:37:47.742 –> 0:37:48.922
20 sleeper sofas

0:37:48.922 –> 0:37:51.304
60 different fridges or

0:37:51.344 –> 0:37:54.606
microwaves to the local community.

0:37:54.927 –> 0:37:56.307
And that was really cool.

0:37:56.688 –> 0:37:57.668
We didn’t do it for publicity.

0:37:57.708 –> 0:37:58.349
We did it because it’s the

0:37:58.409 –> 0:37:58.969
right thing to do.

0:37:59.010 –> 0:38:00.452
But too many times as hoteliers,

0:38:00.931 –> 0:38:02.293
when we go to do a big renovation,

0:38:02.753 –> 0:38:04.235
all this stuff ends up in the landfill.

0:38:04.735 –> 0:38:05.476
And that’s absolutely the

0:38:05.516 –> 0:38:06.797
wrong thing long term.

0:38:06.836 –> 0:38:08.838
So I challenge everyone,

0:38:08.858 –> 0:38:09.699
if they’re getting ready to

0:38:09.719 –> 0:38:10.561
go into a big renovation,

0:38:10.601 –> 0:38:11.942
be thoughtful about what

0:38:12.001 –> 0:38:12.963
happens to the stuff you’re

0:38:12.983 –> 0:38:14.123
demoing out of a hotel room.

0:38:15.188 –> 0:38:15.467
Awesome.

0:38:15.947 –> 0:38:16.188
Love it.

0:38:16.447 –> 0:38:16.648
Chris,

0:38:16.668 –> 0:38:18.768
how about a good plug for your

0:38:18.909 –> 0:38:21.168
organization, Five Senses Hospitality?

0:38:21.668 –> 0:38:22.789
If you’re in Colorado, Kansas,

0:38:22.809 –> 0:38:23.670
and Arkansas and looking to

0:38:23.690 –> 0:38:24.789
grow your hospitality career,

0:38:24.829 –> 0:38:25.809
we’d love to talk to you.

0:38:26.170 –> 0:38:28.369
You’re welcome to reach out to me directly,

0:38:28.389 –> 0:38:29.570
720-702-1959,

0:38:30.150 –> 0:38:33.050
or our website is

0:38:33.150 –> 0:38:34.771
fivesenseshospitality.com.

0:38:35.532 –> 0:38:36.391
We’d love to talk to you,

0:38:36.431 –> 0:38:37.291
help you grow your career.

0:38:37.931 –> 0:38:39.552
And if you’re a guest, come stay with us.

0:38:39.612 –> 0:38:41.293
We run really, really good hotels,

0:38:42.172 –> 0:38:42.893
and we’d love to have you.

0:38:43.512 –> 0:38:43.753
Awesome.

0:38:44.132 –> 0:38:45.213
Thank you very much for being here.

0:38:45.253 –> 0:38:45.773
Do me a favor.

0:38:45.793 –> 0:38:46.293
Thank you.

0:38:46.514 –> 0:38:47.833
Backstage for a second.

0:38:47.853 –> 0:38:48.094
All right.

0:38:48.134 –> 0:38:48.414
Would you?

0:38:48.434 –> 0:38:49.315
Thanks so much.

0:38:49.335 –> 0:38:50.414
I want to thank all of you

0:38:50.454 –> 0:38:51.414
guys for being here.

0:38:51.454 –> 0:38:52.014
And I know you’re going to

0:38:52.034 –> 0:38:53.335
want to re-listen to this show.

0:38:53.356 –> 0:38:56.175
So why not subscribe to our podcast feed?

0:38:56.757 –> 0:38:58.496
Get that wherever you get your podcasts.

0:38:58.536 –> 0:38:58.876
Also,

0:38:59.217 –> 0:38:59.976
all shows are housed at

0:39:00.018 –> 0:39:01.818
NoVacancyNews.com.

0:39:01.838 –> 0:39:02.737
If you want to go back and

0:39:03.077 –> 0:39:04.079
watch us in the future.

0:39:04.458 –> 0:39:05.298
Thanks so much for being here.

0:39:05.338 –> 0:39:05.619
Tomorrow,

0:39:05.639 –> 0:39:08.420
we got the president of Seabourn Cruises.

0:39:08.920 –> 0:39:09.699
I love that they’ve got

0:39:09.860 –> 0:39:11.121
smaller ships and they’re

0:39:11.141 –> 0:39:12.400
doing lots of fun stuff.

0:39:13.081 –> 0:39:14.641
trips over there that’s

0:39:14.661 –> 0:39:15.561
gonna be cool right anthony

0:39:16.583 –> 0:39:17.684
I love small ships all

0:39:17.704 –> 0:39:19.224
right everybody thanks so

0:39:19.244 –> 0:39:19.724
much for being here

0:39:19.985 –> 0:39:20.826
remember you got one life

0:39:20.846 –> 0:39:22.547
so blaze on and be kind to

0:39:22.567 –> 0:39:23.626
yourself see you tomorrow