Dan Weede was a recent guest on Nareit’s REIT Report podcast, sharing his enthusiasm on the current conditions of the lodging and hospitality real estate sector. Despite the combination of ongoing labor shortages, interest rate creep, and high construction costs, Dan expressed his overall optimism in the industry.
Dan additionally noted that:
- Shortage of labor is the number one industrywide issue for hospitality.
- Guests, particularly post pandemic, are willing to pay more for unique experiences. “This industry has to do better at figuring out how to provide those unique experiences.”
- Airbnb continues to be a “really strong competitor” for the industry.
- The new normal for business travel remains to be seen.
Listen to the full podcast here.