As 2025 closes out, the Suite Spot wraps up with the newest inductee into the TMG Hospitality Trailblazers. CEO of Lodge Equities, Ben Rafter, joins the podcast to debate all issues hospitality and expertise and the way these two elements come collectively to make the proper visitor expertise for vacationers.
Ryan Embree:Welcome to Suite Spot, the place hoteliers examine in and we take a look at what’s trending in resort advertising and marketing. I’m your host, Ryan Embree. Good day everybody, and welcome to a different episode of The Suite Spot. That is your host, Ryan Embree right here with a really thrilling, informative episode persevering with our TMG Hospitality Trailblazers. That is our sequence the place we’re speaking to these trade leaders and types, administration firms which can be paving the best way ahead. I’ve acquired a fully wonderful visitor, I’m excited to talk with him right this moment. Ben Rafter, CEO of Lodge Equities. Ben, thanks a lot for becoming a member of the Suite Spot.
Ben Rafter:Thanks, Ryan. Trying ahead to it.
Ryan Embree:Yeah, we’re gonna have enjoyable dialog, speak all about resort equities, however on the Suite Spot we do some custom the place as a substitute of simply doing all your regular bio, I truly like handing it over to our company to type of speak by way of their hospitality journey. as a result of generally you get a little bit bit extra insights. Us hospitality individuals, we acquired mentors. We come from totally different manufacturers, generally fall into hospitality, fairly frankly. You understand, speak to us, our Suite Spot resort viewers, a little bit bit about your hospitality journey and what led you to your position as a CEO over at Lodge Equities.
Ben Rafter:Certain, I match into the autumn into it class, definitely. I used to be a, uh, tech man for higher a part of 15 years, principally startups. Bought two of ’em and after promoting, the second was locked out of the trade for a yr and acquired a cellphone name from a resort man. And he stated, what are you doing? You wish to come to Mount Everest with me? And simply because nothing higher to do for the subsequent month. We packed up and headed over to Nepal and on in regards to the third day he stated to me, so what do you consider the hospitality trade and accommodations? And it was dumb sufficient to open my mouth and provides him my opinion that you just wanted to kind of fuse collectively bigger than life hoteliers, which was his background and type of quant tech knowledge, guys like me. And over the subsequent 20 days, we hashed out beginning a resort firm actually on the facet of a mountain, on this case. And after that ended, it was 2008, the market crashed. We had a brand new president. I flew to Hawaii and we began with 4 accommodations in Hawaii. And it’s been nonstop ever since. So undoubtedly not a standard solution to get into the trade.
Ryan Embree:Yeah, yeah. You give new which means to type of climbing the company ladder, so to talk, when, when speaking about that. However I feel that’s what truthfully makes hospitality so fascinating. As a result of yours, truthfully, quite a lot of the vast majority of the company we talked to Ben, hospitality was not their closing vacation spot, so to talk, what you had been speaking to. However I feel it brings new perspective and clearly insights into an trade that, fairly frankly, we’re gonna speak about it in a minute, however wants some extra expertise integration into hospitality proper now. And to quick ahead to right this moment, clearly a strategic merger in Might, 2025 with Springboard Hospitality. It’s been extraordinarily busy second half of the yr for you and your workforce, together with a pair thrilling bulletins we’re gonna speak about in a second, Ben. However, you understand, are you able to share among the largest type of takeaways and classes you’ve discovered for the enterprise, over this previous six months? Possibly give us a state of the Lodge Equities as you’d say.
Ben Rafter:Yeah, completely. I imply one factor, coming from kind of unbiased and usually both gateway market or leisure centered. You find out how various a few of these markets are and the way a lot totally different it’s operating a courtyard or a Relaxation Inn or a Hampton in a suburb versus operating a resort in the course of Waikiki. And it’s been nice type of seeing each side of the spectrum there. After which attempting to determine how initiatives or which initiatives work throughout all the entity. After which which of ’em needs to be restricted to $400 an evening resort or a choose service resort. And I gotta say, coming from the unbiased area the place we’re all about content material and drone pictures and Instagram and social media and issues like that, clearly strolling right into a suburban flagged choose service resort is a complete totally different, a complete totally different ball of wax, so to talk. In order that half’s been nice. We’ve got nice leaders in all of these divisions and it’s been nice working with them.
Ryan Embree:Yeah, I imply, simply provides to the publicity, once more, what you had been speaking about. And so as to add to that, proper. You understand, in October you had been again on a panel discussing outside centric accommodations on the lodging convention in Phoenix, we speak in regards to the spectrum of from way of life, and now you’ve acquired this experiential glamping. This was the proper subject for you and resort equities, clearly by way of your administration of postcard cabins, which is with Marriott’s new outside assortment. Discuss to us, how about the way you guys are actually capitalizing on this development, experiential journey, that glamping that now even the massive manufacturers try to get into?
Ben Rafter:Yeah, each, everyone’s attempting to get into it. So we had been on the entire postcard cabins, and that was type of the function level of Marriott’s launch of the outside, their outside section. It’s one, it’s been nice. It’s an space that’s rising two and a half, a little bit greater than two and a half occasions sooner than the common resort on the road. Now, after all, you break that down by segments it perhaps two occasions and perhaps 3 times. And it’s additionally so new for the manufacturers that they’re attempting to kind of get their arms round it. And since you, you simply should suppose if you’re staying in an out of doors expertise, you’re not staying in a metropolis. And if you search on Marriott or Hilton or Hyatt or no matter, the very first thing you normally do is you kind in New York Metropolis, you kind in Seattle, you kind in no matter. Effectively, in the event you’re gonna keep in the course of the nationwide forest the place the closest metropolis is 2000 individuals and also you don’t know what it’s known as, like how do you even seek for this sort of stuff? And you then mix that with staffing, the place, the GM higher have a pickup truck and be capable to go to the closest Piggly Wiggly or no matter to go discover no matter’s wanted as a result of it’s possible you’ll be an hour away from the closest space to get the entity. There’s no Sysco truck driving by in the course of the afternoon. After which excessive seasonality. And the massive query I feel for the trade goes to be how do you fill a few of these issues on a Wednesday afternoon in off season? Clearly we’re focusing on teams in company and to make them type of intimate experiences the place 8, 10, 15, 20 individuals can get collectively. But it surely’s, it’s a very totally different area. However the great point is shoppers are actually all in favour of it as a result of they’re all in favour of branching out from their conventional leisure keep, and now they will discover this sort of stuff.
Ryan Embree:I imply, hear, as somebody who climbed Everest, proper, I imply that’s all in regards to the expertise. The vacation spot and attending to that’s a part of the journey and a part of the expertise, which I feel is why individuals find it irresistible. They usually’re gonna do quite a lot of your advertising and marketing so that you can be trustworthy with you, between the storytelling that they’re doing on locations like social media, now rapidly they’re telling your story and, and individuals are, are, are simply actually seeing this in a time the place we’re gonna speak about in a minute, expertise’s type of taking up, however being like, Hey, perhaps this can be a good little escape for me and, and one thing totally different that’s going to be an expertise. You understand, we speak about that on a regular basis. And a real expertise.
Ben Rafter:Yeah. And it doesn’t should be outside journey. The beauty of this trade typically, and the best way it’s evolving and I’m wanting ahead to speaking extra about expertise, is that folks need one thing increasingly personalized and increasingly localized. It might be a meals trip, it might be outside journey, it might be journey journey, which to me is a special class. And the best way that we’re now interacting and trying to find these experiences getting rather more superior and folks can now discover them. Versus earlier than it was, I do know I wanna keep exterior, I’m gonna analysis some pure nationwide parks, and the place do I’m going from there? Proper. And now it’s a large open area.
Ryan Embree:You wanna see what number of segments our trade has gotten chopped up into go to any hospitality convention. And also you’re speaking about heritage, journey, meals journey, such as you’re speaking about journey, that’s multi-generational journey, proper? It used to simply be enterprise and leisure. Which one are you on now? There are such a lot of other ways and priorities the best way that folks and vacationers are taking a look at journey by way of a totally totally different lens than they did a decade in the past. And I feel quite a lot of that, to be trustworthy with you occurred. What occurred in 2020. It’s fascinating to see manufacturers, administration firms adapt to these and attempt to be on the forefront of that as a result of it’s these rising markets and developments are popping up they usually’re turning into broadly common.
Ben Rafter:Yeah, it acquired it, it was accelerated for certain. In 2020, I, there’s a comparability I wish to make. Again, again after I was a child and was studying how one can ski, we had the little skinny slender, tremendous lengthy skis. It was tough. Snowboards got here round and everybody complained about snowboards ’trigger they carved up the moguls or no matter. I can’t keep in mind what it was, however in the end the snowboards made snowboarding higher and the ski expertise superior to what now we have right this moment. And I take a look at the emergence of Airbnb or issues like that, they’ve actually pushed the standard kind of resort lodging area to up its recreation. And I feel we’re kind of seeing that with all these totally different ideas popping out. And I feel it’s wanted too. And now we have one benefit over a few of these, a few of these transient trip performs. And that’s, on the finish of the day, we nonetheless the human in many of the accommodations. And I feel we have to up the sport when it comes to the extent of service that the individuals on the accommodations present and might present to kind of make it so, Hey, I’m staying outdoor. I’m staying in a gateway metropolis. I’m on a meals trip, no matter, however that individual truly on the resort goes to supply worth to my trip.
Ryan Embree:They’re gonna complement it, generally even be part of the expertise there. I feel that’s the massive knock on what we see on Airbnb is, you must be the housekeeper, you must be the concierge, every little thing like that. They usually’re beginning to regulate, clearly with what they’re doing on the tech facet. So it needs to be fascinating to see, however you’re proper that that competitors I do suppose has accelerated that and actually . We’re at a really cool inflection level proper now. And talking of, you talked about your sturdy tech background, Ben, you understand, if you come into hospitality, the place do you suppose we’re proper now on this an general expertise cycle? After which perhaps you’ll be able to drill down a little bit bit extra into, if you take a look at your portfolio at Lodge Equities, what’s your method to type of this expertise?
Ben Rafter:You might have heard the, or seen the massive sigh on the place we’re at within the trade. Since I acquired right here has been behind, and there are quite a lot of causes for it, however we’re steadily catching up. And AI though most likely not over hyped, however over talked about AI will make a serious distinction within the hospitality trade due to the character of what it’s, rather more so than different industries. We’re simply not fairly there but. So, a long-winded means of claiming we’re nonetheless behind. We’ve got quite a lot of legacy spine points and expertise typically. We’ve got too many startups chasing too few options after which attempting to show that they will do different options. However the nice tipping level developing is how individuals are trying to find their resort keep, whether or not enterprise or leisure is altering dramatically, how the again finish of the resort is working is altering dramatically. And a few of these options which can be being constructed are actually focusing on these areas. So I’m not excited in regards to the previous, however I’m fairly excited in regards to the future as a result of everybody desires to speak in regards to the entrance finish and search, and that’s most likely the extra thrilling factor. However simply take into consideration scheduling workforce in a 300% resort and the way efficient and environment friendly that’s turning into. And we want it as a result of margins are being eroded. RevPAR is flat. Effectively, bills are up 5%. And so we want to have the ability to squeeze out each ounce of effectivity in all of those accommodations. And our house owners are all demanding it.
Ryan Embree:Yeah, you’re completely, I imply, the conversations we’ve had at overlaying hospitality conferences with leaders is speaking about each side of the desk. And the chance at each side, as a result of I do suppose we get that shiny object of the, how can we enhance the visitor expertise andeven the sci-fi that robotic coming down with the towels to do all that stuff, nevertheless it’s actually gonna be these small efficiencies that get us to a better place to what we’ve been speaking about perpetually in our trade, personalization and, and this seamless traveler journey, proper?
Ben Rafter:Yeah. And we are able to determine what, you understand, we attempt to outline a fantastic resort expertise traditionally, or luxurious traditionally, and what’s the thread rely and what number of fixtures are within the toilet and all this different stuff, which is necessary. However now we’re nearing some extent the place we are able to perceive, okay, what actually means luxurious or a fantastic resort expertise to this particular person visitor? And it is probably not 5 fixtures and a 600 thread rely. It might imply one thing else, proper. And the extent of personalization now we have is nearing the place we are able to outline that have when the individual arrives. However yeah, in order that’s, it’s, it’s all actually thrilling. And one of many nice issues we’re fairly aggressive with expertise as you would possibly guess. And so we beta quite a lot of totally different merchandise and I wish to proceed doing so as a result of though, three outta 4 might not work to the satisfaction that now we have, or 4 outta 5, you do discover those that do, and we are able to embrace and undertake these actually, actually quickly.
Ryan Embree:Yeah. I talked to a pacesetter on the hospitality present again in October who stated the trendy hoteliers tech stack right this moment is totally, it’s probably the most huge it’s been, and it’s gonna be very fascinating to see, as a result of so many individuals are doing what you’re doing, Ben, quite a lot of beta testing, quite a lot of attempting out new applied sciences to attempt to calibrate it proper to that time, to the place we might be nearer to personalization. And to your level about luxurious, proper? I imply, we’re even to a spot now the place in the event you’ve checked out White Lotus, the extremely luxurious is definitely eradicating expertise altogether, proper? So, however I feel that’s, to your level of my luxurious, might look very totally different out of your luxurious. And I feel that’s what the true place of AI and expertise is gonna get us to the place we are able to personalize that good resort expertise regardless of the place we’re at.
Ben Rafter:Yeah. And there’s a debate that you just’ve had on this podcast and had with different individuals I’m certain is does AI assist or damage probably the most for flags for OTAs, for independence? The place is it gonna make the most important influence? And I gained’t say the place I feel it’s gonna damage probably the most, however I do suppose it actually, actually helps kind of delicate manufacturers and independence, as a result of delicate manufacturers and independence have the flexibility to inform a narrative, they usually can increase that story by way of expertise content material kind of lastly is king. We’ve been speaking about content material being king for 20 years, and now content material lastly shall be king as a result of individuals are looking out and AI is aware of what I need or what you need virtually in addition to you do, proper? And so simply consider the way you’ve modified utilizing Google during the last 10 years, the place now you’re usually asking it questions as a substitute of typing in prompts, multiply that by 10, and immediately now we have AI that claims, oh, I’m going to Honolulu. I normally keep outta Westin as a result of that’s what I do know, or a Marriott or no matter. However AI can say, oh, you’re gonna Honolulu right here, keep at this place as a result of it has a restaurant that you just’re gonna love. They make a fantastic cocktail, they usually have this factor that you just indicated you favored if you had been in New York Metropolis. And so that is your factor. And naturally, what AI actually will get superior is gonna say, and I’ve booked it for you and I requested this, and I’m gonna monitor it for the subsequent 30 days to ensure the income managers will screw up and decrease the value. And if it does, I’ll cancel and rebook it for you.
Ryan Embree:Yeah. I imply, rapidly you’re telling your story to a little bit bit totally different viewers with that and attempting to seize that agent’s consideration, perhaps that, in order that they will type of put you entrance and heart within the eyes of the traveler and the company. However wanna swap our converse alongside the identical strains, however extra of a cautionary story in hospitality and expertise. What’s clearly headlining the information not too long ago, the Marriott Sonder story, and also you commented on this on LinkedIn. I noticed Ben, you understand, you stated, and I quote Saunders shut down highlights simply how advanced our trade has turn out to be, the place tech integration, long-term lease constructions and multi-state partnership should align to create a sustainable working mannequin. So in a time when expertise, proper now, lots of people would argue is, I imply, day by day is at its peak, proper? We’re peaking each single day in expertise. Why remains to be having the precise partnerships in alignment nonetheless so necessary? And, and we nonetheless see a Marriott Sonder story occur right this moment?
Ben Rafter:Taking a step away from expertise, I feel the true lesson discovered from Sonder, and it’s unlucky as a result of we discovered it with WeWork too, is in the event you’re going to lease a bunch of properties, you higher ensure that, you’ll be able to fill these properties by way of thick or skinny as a result of that lease funds are available due it doesn’t matter what, proper? Immediately you’re representing your self mainly, and also you’re attempting to fill the proprietor’s sneakers. And WeWork failed, and Sonder I feel in the end failed due to that. However beneath it, you must make Sonder by no means carved itself out as, Hey, it’s seamless expertise that will get me into my room with no interplay. And what’s the extra worth of that, and what’s going to anyone pay for it? After which I feel they plug into Marriott, I don’t know, clearly, however they plug into Marriott for broader attain and distribution. However now you’re looking out New York Metropolis, you’ve acquired 30 different Marriotts who all have a well-defined model, or most likely 100 different Marriotts in New York, you’re looking out someplace, proper? And the seamless expertise story simply acquired misplaced in the entire thing. After which it’s like, okay, why am I gonna keep at this place over these different 20 selections I see on Mary’s website? After which in the end the entire thing collapses. But it surely’s a traditional case, a really long-winded means of claiming it’s a traditional case of expertise for expertise state someday simply doesn’t work.
Ryan Embree:Yeah. And effectively, and it goes again to the storytelling half, proper? And not using a outlined worth to your model. And if that’s not being translated to your company, you understand, it’s in the end we noticed what occurs when that goes on.
Ben Rafter:Yeah. And I’m going to place myself into the place of claiming, I wanna be the final individual on earth who offers up on human interplay as a part of the resort expertise. And, you understand, we might put in kiosks and every little thing like that, or robots or no matter. I feel we’re higher off investing in coaching our entrance of home individuals or all of our individuals, workforce members to work together higher. And let’s use all these new applied sciences in order that we are able to actually work together and supply a greater expertise. And yeah, perhaps 25% of the viewers, or 30% or 50, or regardless of the quantity is, doesn’t wanna work together. However I feel most individuals need the resort expertise to incorporate individuals.
Ryan Embree:We acquired to a spot, I’d argue the place it was in 2020, it was virtually, there was a danger to going to the entrance desk generally. So, you understand, quote unquote, and folks nonetheless did it, proper? We nonetheless wanted that human interplay, the manufacturers made it simpler than ever to get to your rooms while not having individuals. And we nonetheless wished it. The, the vacationers nonetheless demanded it in a roundabout way, whether or not it was house-keeping, whether or not it was interplay. So I feel if there’s ever a use case, you’re completely proper. And I’m there, I’m proper there with you. I’ll be the second to final individual there with you saying I don’t need that in my hospitality expertise both. However we’ll swap gears right here, Ben. Second, I had in late October, I advised you I used to be out out on the Hospitality Present, caught up with Rob Robinson, a little bit bit colder than the place he’s in Hawaii, however president of the life-style division at Lodge Equities, we talked about way of life and unbiased accommodations, we’ve talked about on this, on this episode continues to develop recognition simply ever rising. Why do you suppose these have remained so engaging to vacationers? And the way has, I imply, clearly Lodge Equities with that strategic partnership has actually positioned itself as a pacesetter on this section.
Ben Rafter:It’s rising as a result of individuals need an expertise, proper? And there’s clearly a marketplace for checking right into a choose service that’s the identical regardless of whether or not you’re in Dallas otherwise you’re in Seattle otherwise you’re in Vancouver BC proper? However there’s additionally an equally giant section of people who find themselves saying, whether or not it’s enterprise or leisure or any of the hundred different derivations of journey, after I go someplace, I wanna keep at a property that tells a narrative. And normally that story goes to be across the place. If you happen to stick with our properties in West Hollywood otherwise you keep the place Rob is at in Hawaii, you need to know you’re in Hawaii and also you’re going to, you’re going to get that sense of place that you just’re there. And way of life and unbiased properties simply naturally can kind of expose that story a little bit bit higher in the event that they’re run effectively. After which we are able to market to that story. And independents should, as a result of the distribution capabilities of the flags are wonderful, proper? And so the independence, their solely counter steadiness to that’s, I’m going to market by way of the story that I inform and the content material that I produce. After which after all, the center floor and Marriott, and Hilton and Hyatt have accomplished so effectively with it’s the delicate manufacturers. And what I wish to see, or what I hope I don’t see is that they begin to harden these delicate manufacturers as a result of an autograph with the pliability to inform a narrative that’s nonetheless plugged into the Marriott distribution system on this case is, is a strong factor.
Ryan Embree:Yeah. So immersive these way of life accommodations might be providing facilities and experiences that the model accommodations are nice. And I simply suppose individuals, if you need consistency, consistency’s there, however everybody doesn’t wish to inform a constant story. Typically they need a novel story. They wanna be immersed of their within the native tradition that we don’t get the chance to see day by day. That’s why we love journey.
Ben Rafter:However now we have to embrace it too and make the funding to do it. And I feel there’s some floor, there’s, there’s some work wooden to cut, so to talk, when it comes to, you’ll be able to’t simply say your resort’s unbiased or a boutique or a way of life resort after which not put money into content material and the actions that make it there. No, I feel that’s the place we have to develop a little bit bit. And as famous earlier once we had been speaking, I feel we’ll be pressured to, as a result of the best way that individuals are trying to find these accommodations, if we don’t, then the resort’s gonna fail.
Ryan Embree:Yeah, completely. Pay attention, extra seasonal, F&B choices the higher from native supply locations at these way of life and unbiased accommodations, I’ll take that every one day to make these memorable experiences.
Ben Rafter:Effectively, and F&B is an efficient instance as a result of the entire main operators now have these relationships with the enormous F&B suppliers, or for that matter, the enormous F&E suppliers, and kind of turned F&B into the same commodity. I might let you know the Sysco fries at 50 totally different accommodations, it’s this, you understand, it’s, it’s, oh, this got here from Sysco or this got here from over right here, proper? And so localized F&B and in Lodge Equities’ case, the flexibility to have a nationwide relationship, however the skill to additionally give the unbiased eating places and retailers the pliability to do what they need with native distributors is important. As a result of we’re kind of homogenizing F&B in the identical means that we’ve homogenized quite a lot of accommodations.
Ryan Embree:I imply, that’s a microcosm of what’s happening in our trade as a complete proper now, the return of the resort restaurant, proper? Which was once, I feel, a decade in the past, effectively, many years in the past, that was once the place to be. After which rapidly it type of acquired to that place, what you had been simply speaking about, and now it’s reemerging. And I feel quite a lot of manufacturers, administration firms, the sensible ones are seeing that and seeing a possibility to not simply welcome, clearly exterior vacationers, however locals are embracing it too, about saying, Hey, you understand, if you come into city, you is likely to be staying with me, however I’m taking you to the native resort restaurant for that have.
Ben Rafter:I imply, I suppose it, it goes again 500 years to accommodations are the gathering place. I used to be on a name yesterday. We’ve got a cocktail bar named the Inexperienced Woman at one of many Hawaii accommodations. And the one who runs F&B stated, Hey, do I’ve to purchase this and this and this? A memo will need to have come out, proper? And I stated, effectively, clearly no, like, who’s your viewers? And he stated, effectively, it’s 50. That is Hawaii, which is stuffed with 10 million vacationers and 1 million residents, proper? And he stated, effectively, it’s about 60% locals and 40% vacationers. And clearly he’s shopping for extremely, extremely personalized merchandise for, on this case, for that, for that viewers. And accommodations should be, it’s very easy to grasp a restaurant that orders native and every little thing. The broader factor is the resort must be the identical means.
Ryan Embree:Completely. Like I stated, microcosm of what’s happening, you understand, all through the operations and model to be fairly frank, gonna swap matters once more, we’re overlaying every little thing right this moment, Ben. Lodge Equities, in February, 2026, you guys are headed out in your annual management convention in Las Vegas, Journey Media Group, our mother or father firm have the privilege of attending. We’ve spoke the final couple years in sponsoring the occasion. This shall be your first time, I’d think about. And what are you most wanting ahead to, and might you share the influence of occasions like this have on a tradition proper now, the place staffing, during the last couple years has nonetheless been a wrestle for our trade?
Ben Rafter:So occasions like this are important. And its simple to say that, however on the highest stage, and what I’m wanting ahead to most is you don’t see everyone fairly often anymore. Distant work has its place. Greater firm individuals are going to be, I used to attempt to get to each single property that we had at the least a couple of times a yr, proper? And as you continue to grow, that turns into a little bit harder.
Ryan Embree:And it is likely to be robust now.
Ben Rafter:Precisely. And so that is my likelihood to see everyone. It’s everyone’s likelihood to see me and to see different leaders of the workforce. It’s an opportunity for individuals from New York Metropolis and Atlanta to fulfill individuals from Honolulu and most significantly, commerce concepts and determine what’s working and what’s not. And I feel a superb administration firm or a superb operator needs to be doing it not simply annually, however all of the advertising and marketing individuals needs to be getting collectively. All of the finance individuals needs to be getting collectively. And sure, there’s a price to that, however the quantity of creativity that’s unleashed from doing it’s wonderful. And now we have, in order that’s what I’m wanting ahead to.
Ryan Embree:It might be an enchanting examine to see how a few of these main concepts and ideas, initiatives and hospitality as a complete, the groundwork is laid at these in-person occasions. And I feel it may be traced again to and simply to talk to the significance of getting collectively in a time the place we thought, do we actually have to get collectively as anymore, can we simply say digital? Clearly that that has a spot for it. However I feel the groundswell of assist if you get a variety of individuals collectively in a single space having the identical challenges. And I feel that’s a strong sentiment if you hear somebody in Honolulu and New York Metropolis having the identical actual challenges and attempting to get by way of that’s floor zero for attempting to create creativity and options, which hospitality individuals, I imply, you suppose perhaps I’m biased, however we’ve acquired the issue fixing important considering abilities. Since you want it. It’s a ability that you just want each single day. You’re training each single day when ground floods or, or some, yeah. So that you want that.
Ben Rafter:Individuals nonetheless put hangers on the little fireplace issues after which the ground floods. You wouldn’t think about, 40 years later, however right here we’re. No, you’re precisely proper. No good thought. Oh, I’m certain there have been a number of over the course of historical past, however we wish to say no good thought comes from one particular person sitting of their house workplace. Tapping away all the perfect concepts come from individuals interacting.
Ryan Embree:Completely agree. Effectively, clearly that is additionally award season and quite a lot of these nice concepts translating to the operations. I wish to congratulate your portfolio resort equities on a number of of these. Notable recognition noticed Marriott’s worldwide high performing primary, high performing administration firm within the US and Canada for Q3, and a few particular person awards, the 2025 Worldwide Affiliation and Full Service Awards, F&B Excellence, we simply talked about F&B, after which opening of the yr, the Vanguard Autograph assortment, Ann Arbor Autograph assortment. What do these recognitions imply to you, Ben, and and the way does it mirror on type of the popularity general within the trade for resort equities?
Ben Rafter:Effectively, I imply, anytime you get an award, it ought to imply so much to, to individuals. And it validates what we’re doing. And it validates that we’re doing it proper to win awards from all the best way to partnering with Marriott, who’s been a fantastic accomplice all through the years to profitable. We acquired a Michelin key at an unbiased resort, proper? After which the Vanguard launch, it’s validation, and it’s not validation of what I’m doing, it’s validation that the workforce members who’re truly executing on these items are doing a fantastic job of it. So internally, what I’d wish to increase is type of rewarding individuals for that, that we began gifting away cash for individuals who created concepts. We’re beginning to give away awards for individuals who, you understand, there’s at all times the visitor service part. We acquired a letter from Marriott simply yesterday, two days in the past, some man had taken the time to jot down to anyone fairly excessive up and Marriott and saying, look, I had the perfect buyer serviceI’ve ever had from this particular person. It was truly was on the Vanguard, oddly sufficient. And it’s a necessity for me and workforce members to acknowledge that, as a result of we talked so much about it’s human side of this trade is an important. And a little bit facet story once we had been on the facet of the mountain creating this, creating our resort firm 15, 20 years in the past, the bigger than life resort man who was not me, he stated like, one factor you’ll be able to always remember. Effectively, you’re taking a look at all these spreadsheets and knowledge and all that different stuff is there’s an actual visitor within the room and in Hawaii that actual visitor might have saved a yr for his or her one leisure trip, that they’ve dreamed about presumably their complete life, proper? And he stated, always remember that there’s a visitor within the room. After which he satisfied me to place my cellular phone in all of the rooms. And we did that for the primary 11,000, resort rooms that we had. So, and it was value it as a result of it, each every so often is a reminder that, hey, we’re within the service enterprise and individuals are, we’re individuals first enterprise.
Ryan Embree:Pay attention, most likely some fairly fascinating conversations you had with company having a direct line to you. However I feel, very sobering to listen to, once more, that I feel that’s nice recommendation for anybody that’s struggling proper now speaking, desirous about are we doing sufficient on the expertise facet to maintain that north star there of, there’s a visitor within the room. That is what individuals are on the lookout for. We’re internet hosting individuals in our house. So yeah, nice recommendation there. I’m gonna quiz you on yet one more piece of recommendation, Ben. As a result of I feel, I began this podcast, we’re virtually 200 episodes deep. I at all times really feel prefer it’s my type of mission, particularly for youthful hospitality professionals that simply coming into the workforce now, hear, after I after I got here in to to hospitality, I didn’t have the looming clouds of, you understand, AI is likely to be be taking these jobs. So what recommendation would you give perhaps a message of hope and even recommendation, suggestions that you’d give to a younger hospitality skilled getting into their profession proper now?
Ben Rafter:For certain. Don’t be afraid to succeed in out to individuals such as you, individuals like me, CEOs. I don’t know. I imply, clearly now we have quite a lot of rivals and we compete with them for apparent causes, however I don’t know a single one in every of them that will not reply to somebody who reaches out and says, Hey, how did you get the place you’re? What do you want doing? I feel I simply use a double detrimental within the sentence there. However, I’d, I don’t know, a single one who will not be prepared to assist increase individuals’s careers. After which the second factor is complacency simply kills. And when you’ve got concepts, push ’em. And I used to be 19 or 20 once we did our first startup, it could’ve been actually actual simple to not do it. After which 5 years later, 10 years later, life modifications. And when you’ve got the thought, push it and do it, and also you’ll be rewarded for it later. And also you’ll by no means look again and say, oh, hey, I want I wouldn’t have accomplished that.
Ryan Embree:Superb. And like what would it not you will have stated if I advised you 19-year-old, Ben, that you just’d be given hospitality recommendation to younger hospitality professionals.
Ben Rafter:After I was 19, I used to be terrified to succeed in out to individuals, like, why would anyone speak to me? However, you understand, we’re all on the market. And so I feel that’s two items of recommendation. One, attain out to anyone that they’ll reply. After which two, when you’ve got an thought, push it. Individuals, individuals are, there’s quite a lot of self-doubt on the market. You have got it, I’ve it. You suppose, oh, that’s not a good suggestion. Effectively, it’s not, you show that it’s not a good suggestion. There’s simply pretty much as good an opportunity. It’s gonna be a fantastic thought. And in the event you’re implementing expertise, get the implementation half accomplished as a result of, it’s nice seeing a thousand totally different applied sciences, however 9 occasions outta 10, they don’t speak to all the opposite ones we’re utilizing.
Ryan Embree:There’s some tech recommendation on the very finish. I really like that. Proper on model. And so wrap it up into 2025, 2026. Are you able to share any notable developments proper now within the resort, equities, pipelines, and even tasks that throughout the portfolio you’re enthusiastic about proper now?
Ben Rafter:Actually excited in regards to the Caribbean and Latin America and explicit Mexico. I feel in a few of these areas, third get together operators are simply rising. I imply, clearly fairly frequent within the US and in Canada. We’ve got an superior workforce down there and we’ve, we’ve type of acquired it in our little laboratory in order that they’re protected. And I simply suppose the influence they’re gonna make subsequent yr throughout the Caribbean and Latin America is gonna be improbable.
Ryan Embree:Yeah. Tons of market alternative there. Maintain listening to quite a lot of more durable earned {dollars} spend down in that area for certain.
Ben Rafter:Yeah. And enjoyable stuff, nice accommodations and you understand, clearly we all know Hawaii fairly effectively. We all know Florida rather well. We all know the standard US trip locations. If I had been the governor of Hawaii, I’d seize about 10 members of the ledge, or 20, or as many as we might match on a airplane from Hawaiian Airways or Alaska and fly anyone down. You most likely can’t do it, however fly anyone right down to Mexico, right down to Costa Rica and the Dominican Republic, as a result of if they might actually see the standard of the product down there, they might be investing in additional tourism advertising and marketing in Hawaii. So governor, uh, Josh Greenham, Hawaii listen.
Ryan Embree:Effectively hear, now we have a Suite Spot highlight sequence that truly profiles some properties. You gimme a name, Ben, everytime you’re able to highlight a type of properties within the Caribbean, I’m comfortable to make the journey down there and show you how to out with that. So yeah.
Ben Rafter:Superior. I’ll stay up for it. I’m gonna maintain you to that.
Ryan Embree:All proper. Effectively, as we wrap up the yr and as we wrap up the episode, I feel that is clearly a good time for lots of reflection. Thanksgiving simply occurred. Trying again on 2025, what are you most pleased with in 2025, and what are you most wanting ahead to in 2026?
Ben Rafter:It’s, I imply, look, we acquired the Springboard/Lodge Equities mixture accomplished. And I’m actually excited. So, we’ll name that probably the most proud. And I’m actually excited for seeing the place this mix goes in 26. However because the tech man who appears to be extra individuals centered than most, I imply, you take a look at this trade and we’ve acquired a number of thousand workforce members and I’m proud that they will ship each single day. And I feel everyone ought to say that’s like, in the event you don’t have your workforce members, and in the event you don’t have your GMs on the entrance strains combating, there’s nothing. And so I’m most pleased with what they’re delivering.
Ryan Embree:There we go. Superior. Effectively, Ben, we’re excited to look at, proceed to see Lodge Equities develop, want you nothing however success, coated all of it right this moment. Obtained the massive spectrum out of your journey to tech and even Marriott, Sonder and, and coated some awards and developments. Another closing ideas you bought earlier than we log off?
Ben Rafter:We’re in every single place. That’s enjoyable. Makes it nice. No, wanting ahead to seeing you in February. And I feel you coated an important factor. If you’re younger and new to this area, and Ryan, you educate and converse at I feel UCF, however most likely in all places, don’t hesitate to succeed in out. Simply observe anyone down and they’ll keep in mind you 5 years later or 10 years later. And after I’ve lengthy gone, you understand, their careers shall be going loopy. And that’s, you understand, that’s good. We’d like extra innovation. We’d like extra younger individuals.
Ryan Embree:100% agree. Hopefully there’s one other podcast sitting on right here and perhaps they’ll be mentioning our names as somebody they reached out to again within the day that we are able to solely hope, proper?
Ben Rafter:We’ll go to Nepal or China climb an 8,000 foot meter mountain and, on the facet of the mountain we are able to all, we are able to all share tales and create the subsequent resort firm.
Ryan Embree:That’s all it’s essential to do. That’s it. So, all proper. Effectively thanks a lot, Ben, for taking the time. It’s been a pleasure talking to you and like I discussed, want you nothing however success. And sure, we’ll see you in February on the Lodge Equities Management Convention.
Ben Rafter:Nice. Thanks Ryan. Trying ahead to it.
Ryan Embree:Thanks Ben. And thanks for listening to Suite Spot. To affix our loyalty program. Make sure to subscribe and provides us a five-star ranking on iTunes. Suite Spot is produced by Journey Media Group. Our editor is Brandon Bell with Cowl Artwork by Bary Gordon. I’m your host Ryan Embree and we hope you loved your keep.
