Masters of Moments #4: Rob Lowe - Co-CEO of Lowe Enterprises - Developing Culture in an $8.5 Billion Organization
As Co-CEO, Rob Lowe focuses on operations both at the corporate level and across its real estate activities. Additionally, Rob and Mike co-chair the firm’s wholly-owned hospitality affiliate, CoralTree Hospitality Group. He is a past Trustee and President of the Palisades Presbyterian Church, is currently on the Board of Managers at the Palisades-Malibu YMCA and is an active member of Urban Land Institute.
On this episode, Jake and Rob discuss:
- How Lowe was able to build such a massive organization
- Converting Office to Residential
- Developing Hotel Properties
- Incentivizing teams and developing culture
Links:
Ivy Station in Culver City, CA
Terranea Resort in Palos Verdes, CA
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Topics:
(2:36) - How did Lowe build such a massive footprint? (10:04) - What were some early insights you had on the importance of people and place?
(14:23) - What are your thoughts on Office as an asset class?
(16:25) - Are you looking to convert any of your Office buildings?
(18:46) - What are some things you look for when determining if you can convert an Office to Residential?
(20:32) - Have you ever considered getting Hotel, Office, and Resi within one building?
(22:58) - How do your local teams integrate into the larger organization?
(24:02) - How do you capitalize your deals?
(25:06) - What’s been your experience working with your brother and how did you end up in the business?
(28:06) - Did you have any hotel experience before you stepped into the role?
(29:16) - Is developing hotels in today’s market more difficult?
(32:41) - Do you prefer to buy assets from a bank or to develop from the ground up?
(33:18) - Developing the Terranea hotel in California
(49:27) - How did you approach F&B at the property?
(51:02) - Thoughts on entitlement
(52:27) - How did Destination Collective come about?
(1:02:06) - Would you consider buying management companies with your new company?
(1:03:58) - What contracts are you looking for right now?
(1:05:20) - How do you think about incentivizing?
(1:08:45) - How much time do you spend developing culture?
(1:11:14) - What is your favorite hotel?