65 min listen
#15: Jay Shah - Executive Chairman of Hersha Hotels & Resorts | Building a REIT in Hospitality
#15: Jay Shah - Executive Chairman of Hersha Hotels & Resorts | Building a REIT in Hospitality
ratings:
Length:
88 minutes
Released:
May 31, 2023
Format:
Podcast episode
Description
Hersha Hospitality Trust (NYSE: HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates luxury and lifestyle hotels in urban gateway and regional resort markets. The Company’s 25 hotels totaling 3,811 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida, and California. Jay is involved in all areas of the business with a particular emphasis on strategic relationships, capital transactions, asset management, and acquisitions. On this episode, Jake and Jay discuss: The story of building Hersha into a publicly-traded powerhouse Pros & cons of a REIT and starting one in the Hospitality sector How to think about the market Missed opportunities and biggest wins Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill Links: Hersha Hospitality Trust Jay on LinkedIn The 4 Seasons Boston Timestamps: (00:02:39) Jay & Jake’s relationship and Jay’s first hotel in NYC (00:09:30) Opening a hotel amidst the chaos of 9/11 (00:11:25) Was NYC a way to legitimize your business? (00:31:33) What struggles are there in operating a REIT? (00:40:33) How would you advise a Hospitality company before they form a REIT? (00:43:34) Why did you transition into full-service and lifestyle operations? (00:50:22) What do you think about as an owner and non-operator that you can influence? (00:53:10) What do you look for when you visit your own hotels, competitors, or one you might acquire? (00:57:14) What are your thoughts on spending Capex on renovations where you don’t see more upside? (01:00:01) What have you found the best ways to structure F&B deals? (01:06:25) How will you be investing in the future given the shifts from covid? (01:09:53) What’s the most common ways people get smoked in the Hotel business? (01:11:19)Jay’s growth mindset (01:15:25) Growing a Management Company (01:18:24) What makes a really good partner? (01:21:28) What’s a market you’re interested in? (01:22:49) What is your favorite hotel?
Released:
May 31, 2023
Format:
Podcast episode
Titles in the series (64)
#2: John Grossman - CEO of Classic Hotels and Resorts - How to Lead a Hospitality Operating Team: John Grossman, CEO of Classic Hotels and Resorts, a mission-focused owner and operator of independent hotels on the west coast and mountain west. With hotels ranging from upscale resorts to hip roadside motels, the company is known for designing an... by Masters of Moments