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Masters of Moments
#15: Jay Shah - Executive Chairman of Hersha Hotels & Resorts | Building a REIT in Hospitality
May 31, 2023
Jay Shah, Executive Chairman of Hersha Hotels & Resorts, discusses building a REIT in hospitality, pros and cons of REITs, missed opportunities and biggest wins. They also touch on financing challenges when opening the first hotel in NYC, transitioning into full-service and lifestyle operations, the impact of COVID on the hospitality industry, and exploring new markets.
01:27:48
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Quick takeaways
- Shifting focus from limited-service to upscale and luxury hotels due to higher growth and revenue potential.
- Importance of crispness and maintenance in hotels' appearance to address potential deferred maintenance or structural issues.
Deep dives
Focus on Upscale and Luxury Hotels
The company has shifted its focus from limited-service hotels to upscale and luxury hotels. This strategic shift is driven by the higher growth and revenue potential of upscale and luxury segments compared to limited-service hotels. They have found that upscale and luxury hotels tend to outperform in both downturns and upturns in the market.
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