Latest / Suite Spot: A Hotel Marketing Podcast / 202 – 2026 NYU IHIF Preview
Transcript
- Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what's trending in hotel marketing. I'm your host, Ryan Embree. Hello everyone. Welcome to another episode of The Suite Spot. This is your host, as always, Ryan Embree here with another hospitality event preview with a very familiar guest, very excited about this conversation. It's spring, so right around the corner, we know what's next, one of the premier events of the hospitality event calendar. Here to talk with me, a frequent guest, Alexi Khajavi, Questex, President, Hospitality and Real Estate. Alexi, thank you so much for joining me again here on the Suite Spot. Alexi Khajavi: Ryan, great to see you. Great to be back. Ryan Embree: Yes, it has been too long since we last spoke. We were out in Denver together at the Hospitality Show there on stage. Alexi, you were talking about everything that happened over the course of an entire year. I feel like from October to where we sit right now, in the middle of spring, it's felt like a complete change. Whirlwind. I'm not even sure if when this episode's released how much there could be even more change, but since then, so ground us. Give us a little sense of the state of hospitality and the sentence EE everything that you're feeling right now. Alexi Khajavi: What we saw each other end of October in Denver, just at the conclusion of the hospitality show. And I guess, yeah, to your point, every day is, like an like a year or or seven years for that matter. So, six months on I mean, some consistencies, and I suppose the consistency is the volatility just in the geopolitics, macroeconomics, local state of affairs. And that does have a knock on effect on, on tourism and hospitality certainly. But some of the themes are consistent and that is that it is a, a continued challenging operational environment. rev pars have which we talked about rev pars, we were starting to see some normalization after they had been really on a only an up into the right performance for the prior three years. We started seeing that slowing down in Q3, Q4 of last year. And that has continued. One of the, the aspects, and a lot of people are talking about it, is a Ks shaped economy. And so you're still seeing some, some interesting and pretty exciting, RevPAR ADR growth on the luxury side of that upper part of the K, if you will. And in the lower K of the market, you're, you're seeing increasing and continued challenges. Right? And I think everyone is sort of asking two questions around that, which is one is how much more runway of growth does the luxury market have? And then in on, on the sort of upper upscale midscale and economy, is the economic conditions going to encourage a trading down of the consumer. Speaking to David Pepper, for example, from Choice yesterday, they are seeing some positive RevPAR growth in that upper upscale, which, they've got a lot of hotel stock in. So I think the question is and we're seeing some data that the customer is still traveling. They still see both on the leisure sh leisure side from the experience economy, travel as not being discretionary and not being something that they're willing to give up, but something that they may trade down for make it more economical, domestic tourism, and drive to staycations those types of things versus the international travel, which certainly was in demand for the last three years. Corporate travel, I think that's, that's directly tied to GDP and the economy. But again, corporate travel has actually been coming back. It lagged leisure tourism recovery. So that's been, performing quite well. Again, business is done face to face. It's why we do live events in the, in, in, in the sectors in which we serve. So, continued operational challenge, questions around demand, a lot of impact from AI on demand, and how that demand is coming to your brand.com or to your property website, how they're searching. SEO is in massive disruption. So, it's not a typical recovery at this point. It's, it's fragmented, it's bifurcated. It depends what part of the market you are in. There's divergent recovery that's sort of replacing that, that high tide lifts all boats. That uneven demand is translating into really kind of diversity of performance. And so it depends what markets you're in. So the operating side is, is is tough. It is becoming harder and it is becoming more expensive. And yet there are some tools out there, AI and others, and technology generally that's offering a lot of opportunity for optimization, efficiency, productivity in those areas, which will flow through to the bottom line. And then we're also seeing, kind of a bifurcation in the capital markets. On, on, on the big side, there is a ton of capital that is chasing hospitality, moving from other asset classes whether it be office or retail or industrial. And they're moving into hospitality for all the reasons that it's operational real estate. It's a tailwind market from the experience economy, despite the fact that we are cyclical, right? It goes up and down, but there's a ton of liquidity. There's a, there's a wall of money that's chasing, the asset class ranging from your owner operator franchisee, which is looking to grow from three properties to 6, 7, 8, 9, 10, whatever it may be, to institutional capital, which really never looked at a hospitality in general. So that's creating more diversity in the type of investors which is coming into the market. So again, all of that challenge could unlock the transaction market. And then with those transactions, we see this regeneration of capital CapEx is deployed, and that's really good for the industry. I mean, nobody likes to see falling net operating incomes, in running hotels. But that being said, it means that people have to be hyper-focused on how to run those hotels more efficiently. Why we run the hospitality show. And at the same time, NYU coming up, a lot of new capital coming into the market, a lot of capital chasing that, trying to figure out where the deals are, where to deploy that capital. And again, that's why we have events like IHIF EMEA in Berlin, which was a few weeks ago. And to your point, NYU IHIF coming up in five weeks. Ryan Embree: It's so many storylines in our industry right now that we're chasing. We'd even touch on the upcoming summer, summer World Cup and events like the Olympics here in a couple years that are also gonna have a massive shift in international travel, which has been down. So again, so many challenges, but also think opportunistic time right now in hospitality and being at a spot like NYU is one of those places to capture those opportunities, to learn more about that from your peers, to have those conversations. Networking, I mean, I'll, I'll turn our attention there with some impressive numbers from the event. 2200 delegates, 450 plus C-suite executives, 400 plus investors, and $132 billion in assets under management there. So it's impressive, like I said, impressive feat and number that you have all gathered in, one of the hospitality meccas of the world, which is New York City. What makes this event different from other hospitality events, and why is it a really a can't miss for, for hoteliers investors this year? Alexi Khajavi: Yeah, I would say it's a couple of things. One which you touched upon, which is, New York City financial capital of the world, it is the gateway city for the us it is, a hospitality driven economy. But it's also one of the most thriving, financial market economies, in the US and certainly the world as well. So, that if you were to think, where do you hold an investment forum in any sector, but for that matter, in hospitality, New York, no better place, right? The money is there, the banks are there, the professional services are there, the brokers are there and many of the, the top brands are on the Eastern Shore board from DC and Maryland, up to the city here. So, it is just simply having it in New York. Second, it's got a 40 year history associated with the New York University and the School of Hospitality and the John Tisch Center of Hospitality. It's the only event where a portion of every dollar and revenue spent there goes towards supporting the next generation of hospitality professionals. So, we continue to partner with NYU and the School of Professional Studies. There, it's an incredible partnership, which we're just privileged and delighted to continue. And the fact that labor and talent is a massive challenge for the industry that, that you're, you're supporting a school which is turning out some of the most talented future hospitality professionals in the world by attending or sponsoring that's goodwill. And, and we're just delighted to be able to support that. So, that, again, I think is another anchor for why NYU is just such a special event and is different from a lot of the other good events that are, that are out there. And then lastly, NYU is part of a global portfolio of hospitality investment forums. And so, we have our event in Berlin. We have an event in Manchester, UK. We have an event in Athens, Greece, which is focused on the branded resi and the resort, segment, which is international and frankly, one of the fastest growing segments in hospitality. And then we have our Asia event in Hong Kong. So, we're able to still bring in that global capital, those global operators that want to do business, want to bring their brands, want to deploy capital, want to invest in the us. So it's not just a New York show, it's not just a US focused show, but it's a North America event where how do operators, how do investors, and how does the ecosystem of professional services come in and facilitate and drive deals to invest in the US and North American hotel market and all those things coming together, make it vibrant, make it diverse, make it one of the most active deal making conferences in the circuit. It really is for the investors to connect, with each other, but also the rest of the segments and the stakeholders, as it's very diverse and fragmented industry. So deals get done. I mean, it was just on a in a conversation, a few weeks ago talking about a deal that's been, announced since then. But they met in New York last June and really kicked off those conversations there at New York. And that ultimately consummated in a deal, in the fourth quarter of, of, of last year. We know that that's what our value proposition is, and we know that's why people spend their time with us and invest in, in NYU and we expect it to be even more vibrant and active on the deal making side, this June. So it should be should be a good event. Ryan Embree: That's why I was gonna say, I had the privilege of attending for the first time last year, and I think the biggest difference for me was just the energy and the buzzing, and it just, it felt like what you said, it felt like deals were moving forward, whether that was the first time someone was connecting and networking, or whether it was something where these, these deals are not done in a vacuum or a silo that they take time, they take effort, and they take meetings like this, right? This connection, sometimes it's, especially in a challenging market, can be the thing that brings a deal across the finish line. So it was palpable in the air when we were at that event last year. And it was a, it was a who's who in hospitality too. You turned one way as a brand leader over here. Next is a president of asset management company. It really was an an extremely impressive event. I wanna get your thoughts, Alexi. You mentioned the sister events, the IHIF emea, which just wrapped up here at the end of March, obviously completely different markets that we're talking about, but I still think holistically, there's probably some lessons, feedback and sentiment that you could probably share that will translate into NYU, right? And some of those themes that are gonna make it there. What was your kind of, I guess, overall sentiment about the event and how just the energy and hotelier's feeling was around that event? Alexi Khajavi: Yeah, I mean to go back to the start of the podcast, every day, there's been something else. There's been a, a ton of volatility in the market, a lot of uncertainty in, in the world. We still have a, a conflict, going on in, in Europe with, Ukraine and Russia. We now have a conflict happening in the Middle East. You've got macroeconomic conditions of still tariffs and the inflation that is causing interest rates still remain elevated, albeit they've, they've come down, over the last sort of 12 months. Elevated however, to historical, all of that creates uncertainty in the market. And as an investor said in, in Berlin, we can, we're very good at penciling in risk and quantifying, the impact of that risk on both present day valuation. And a 20 year IRR, what is harder to pencil in is volatility and uncertainty. The certainty of risk is fine because you can quantify, the impact that that risk will have on the business. What you can't is the uncertainty. And so with that, what we saw in Berlin, however, is that really is driving a lot of engagement around the expertise and the speakers and the sessions. We really pride ourselves on not having the same speakers every year saying the same things. We always leave a portion of our programs sort of unfinished, if you will, or, started but un unfinished because, because of that volatility in the market. So we saw a huge amount of engagement with people in the, in the sessions, in the rooms, which is interesting because at the end of the day, it is a deal making conference. And people are in meeting rooms, they're up in suites they're in the lobby and they're, they're engaging with each other, they're there to do business. But we saw a lot of engagement, increased engagement with the sessions that we had. We then saw those individuals that were in a session often go out of the session and engage with each other and engage with speakers. And so one of the things that we're doing is creating content fueled networking. So, a session will then lead to a round table where the speakers will stick around and the delegates or the folks that were in that session as an audience are able to then continue that conversation and go deeper and get into an actual conversation rather than just sort of a q and a that's, that's tagged on at the end. So it really created a, I think, a huge amount of engagement and peer-to-peer conversations. And really, I think people seeking a perspective. When, when you're in a volatile market, really the most important thing you can do is to, to talk to your peers, to talk to your competitors, to talk to your mentors and get different perspectives to try and create some fidelity of what didn't work or what has working, or what are the things that you're trying out that's really exciting. I mean, we really love that because, an open market, a transparent market, and an engaged market on the buy side and the sell side is a more informed market. Everybody needs that, right? It just makes markets more efficient. It make every, makes everybody better operators, and it creates a transparency as to where those opportunities are. And that's, that is a, a tide that does lift all boats. The other thing I would say, Ryan, is, is that there's always this question in an, an investment forum, like IHIF, like NYU as to what the sentiment is. And we've been tracking investor sentiment for the last five years now, since, January of 2020, which was an interesting time to first sentiment. Yeah. And it's interesting because it certainly went down during COVID, no news flash there. It quickly rose up from 22 to 21 to 24, and then it's leveled off since then. And it's kind of just, a few index points gone, gone up or down depending on all of this volatility Liberation day last year, which was the first day of April, if I'm not mistaken, which was actually right during IHIF was created a lot of pessimism. It, however, was replaced with some optimism as interest rates fell down. So the sentiment to that question was, was actually quite positive. I think maybe through just the density of volatility or the consistency of volatility. People are somewhat getting used to it and separating noise from substance. And, and really there are the, there are more deals coming to market. We are seeing a diversification of capital coming into the market, lot of high net worth, lot of family office, a lot of institutional capital, sovereign wealth pension funds. And what that's creating is more demand. So you're starting, when we talk to the brokers, you're starting to see a number of underbids in terms of a mandate comes to the market. A transaction occurred, but there was 6, 7, 8 under bidders in that transaction that shows interest, it shows appetite and it shows that the bid ask gap to a certain extent is narrowing. Now, that doesn't necessarily mean in all cases that valuations have come down. I think buyers would like them to, but at the end of the day, I think capital, and we're seeing capital become more confident and have more conviction in the market, but that also there are regeneration opportunities through CapEx deployment, through repositioning and through other levers that they have to pull, that they can take an asset that is performing at x and through CapEx and better operations and better plans, better brand, make it X plus y. And that was really the sentiment coming out of Berlin that the market is opening up, that there is a diversity of capital coming into it that's creating a lot more demand and through a number of different sort of challenges, or let's just say realities on the operator side, you are seeing a higher interest in selling. And I think that that will start to, to narrow the bid ask gap and look the unlocking of the market. We've been waiting for it for two, three years. It's been a challenging market, but I think everyone's seeing some optimism. I think the wishlist is, is that we reduce the amount of volatility in the market, but that's an uncontrollable from your and and my perspective, we don't have much control of that. Ryan Embree: Yeah. But I think the industry's skin is, is thickening to that, right? And we've talked about that, how it's our new normal is the constant state of change. And I also think it's something, I'm not sure if we've talked about or thought about this too much, but we really saw worst case scenario just six years ago of being like, where everything dropped to none. When we're assessing risk, we're a lot more battle test. This industry is a lot more battle tested than maybe previous than it had previously. So some of these uncontrollables, like you mentioned, that yes, they are headwinds, yes, they are challenges, but it's those investors right now that see opportunities that assess that risk and say there could be some really, really great upside at a at a time right now. And one of the places also where there is a lot of uncertainty, but I would, I would almost phrase it in the sense of a, of a positive uncertainty is the impact that AI is gonna have on our business in the future. And the gains and dividends that we can yield from those have really just scratch the surface. And we talked about this, and I wanna bring that into the conversation 'cause it's hard to not talk about it anymore, right? It, I think we don't go a, a podcast episode without bringing it up and people filling out their bingo cards on AI and technology. But I want, I wanna take us back to where we were a year ago, and maybe we can do this an exercise. Alexi, what would you grade right now, our industry, which historically has been maybe on the lighter end of the spectrum of a technology adoption, but what would you, what grade would you give it? Because I think we're at this weird inflection point where hoteliers and brands and management companies and really everybody's starting to look and saying, alright, we've implemented some ai. Where are the dividends? Where are the results? How do I measure these successes? What, what grade would you give and how do you think we can improve there? Alexi Khajavi: You know, that's a, that's a great question because it's not an easy one to answer. Sure and not to cop out of giving you a specific answer, I would give it a a non-applicable, because the reality is, is that technology as a whole, in terms of using technology as a tool to optimize the hospitality market, I would certainly give ourselves a c plus. I think that's historically been where we have failed for many reasons, which we can we don't need to go into right <laugh>, we know, we know that. But I think, I think AI right now is there is an overestimation of its impact on the near term, and there's an under appreciation for its impact on, on the long term. Love that that's, that's quickly, quickly changing. I mean, if you, to your point, if you just look at the last six months, massive wholesale change, and I, so I think that that's changing very quickly that people are starting to appreciate this. This is enormous, both in its capacity to be a force of good as well as its capacity to be a, a force of bad, to sort of broadly call it as such. But that being said, I think there's sort of two themes around ai. One is on the, on the sort of operational side, AI has, has largely, I think been distributed as a individual choice through the industry and the departments. And the overall, whether you're on the brand side or the operator side or the investor side, I know that there are mandates and there are committees and everybody's sort of got their own playbook to how they're using ai. But at the end of the day, it's gonna come down to any individual that's using it or not using it in their respective role. And that's all over the map. Some people are using it, some people are not. And, and frankly, I think those that are using it are going to be better off for their r and d and just their effort to try and figure it out. Because the more you use it, the better off you become at using. It's, it's a tool like any tool, right? You, you need how to use how to use that tool in order for it to do the job you want it to do. So in that case, I think we're probably no different than some other industries, which are certainly spending a lot of money on it and trying to figure it out. The other aspect of it though, that I think is really interesting is that it is already changing, particularly those frontline manager roles. A GM, for example, that is using AI will have more time to do the things that a GM should be doing, rather than all of the back office stuff, which AI can do at scale and at pace, and to a high degree of quality with oversight and q and a being done, not just to let AI go do all those things, but that, that frees up your general manager to go do the things that really drives guest satisfaction. Respond to RFPs, take care of guests, drive revenue, be present in the local market so that you're capturing demand drivers, in your local city or wherever you may be. So, I think if that individual GM is using AI effectively to free them up to do what a GM really should be doing, and probably why that person went into being a GM in the first place, then I think we're gonna start to see the progress. But we haven't really started to measure it yet. I also see on the positive side, other industries, IE healthcare are also realizing that AI is doing a lot of back office work at a very high level, or high degree of, of quality. And that's now freeing up their own people. And what they're finding is, is that maybe we should be engaging, empowering those roles in a hospital or healthcare broadly to be taking care of patients in a more human hospitable way. And so, in some degree, I think the long-term impact will be that other industries are now going to start looking at hospitality as being a, at the vanguard of driving human powered experiences that will drive back to revenue and premiumization and ultimately profits. So we've always looked to other industries for, God, we're, so, we're Luddites, how do you do this? What, how do teach us in hospitality? I, I think we're going to start to see other industries look to us to, how do you actually take care of a guest, a customer for that matter? How do you do that to create loyalty to, to a, to increase average order value or ticket receipts. So I think that's the opportunity to answer your question in terms of one area that I think is directly and already being deeply impacted is distribution and search. Search is been a, a topic of discussion for the last 30 years. And we've largely gone through this used SEO to fine, the white hat, the black hat the right levers to pull your all tags, your meditechs, I mean, the whole thing, right? Brand equity, la la, la. Well, AI replaces all that in one fell swoop, and nobody really knows how that's going to play out. But on the sort of doomsday perspective, it completely wipes out your brand equity online in a search engine. On the positive side, it reinforces it because AI is simply pulling from algorithms and behaviors on the internet to sort of drive, it's, it's results. But again, we don't know the answer to that. And I think already revenue management, sales and marketing distribution, those are the areas where I think in the next six months, we're gonna be having a conversation that is gonna be completely different than the conversation we're having today. And we're gonna be focusing a lot on that because that is one of the areas that today is being completely upended. Ryan Embree: I one hundred percent agree with you. I think that's where a lot of the hunger and the appetite and thirst for knowledge right now of why maybe there's more engagement in those sessions than you've seen before, is because I think people are starting to, if they haven't already started to understand the gravity of where we're at in this inflection point and the massive disruption that this is going to cause and do not want to be left behind. And I think you're right. There was a fascinating point you made in there about the GM and their role, and we all, the big fears around AI are, are AI replacing jobs? And I would say when it comes to hospitality, it could really upend what the, the role of a job, right? Your GM might start looking a lot more like the GM of 40 years ago when you first got into hospitality, or where you weren't having to do those tasks. And we almost have to learn this new job. It might be the same title as general manager, but you're doing completely different things, which is a fascinating topic to talk about because we've been training these young hospitality professionals in the way of what a GM is today. That role could look completely different here in the next three to five based on the, on the speed and acceleration of these, of AI tasks that they're doing. So it, I could talk about it all the time. We do talk about it all the time, I feel like, but it'll be very interesting to see that impact that it's making. I wanna switch back to NYU, and this is one of my favorite questions because there's so much intention in these, in these shows, and that's why I love doing these episode, these preview episodes, because you get to, to learn all the work that goes in, you've told me before you start on these events, day after, sometimes even now hours after that first one ended. So this year's theme sharpening the edge. Talk to us a little bit about how the team settled on this and, and the story behind it and how you've incorporated it into the programming a little bit. Alexi Khajavi: Yeah, I mean, sharpening the edge is, an ode to the investment, nature of the event. It's a deal making conference and it's in New York. And so it's a very sort of public market Wall Street saying, where do you find your edge or where do you find your alpha compared to another investor? If all you're doing is chasing, the broad returns of a market or an asset class for that much, or for that matter, then you're, you're gonna be, at the whipping end of the overall broader market. It's not a good place to be in a volatile market like this. And it doesn't drive the outsized returns that investors are looking for. So it really is a tip of the, the cap to where we are. We're in New York, we have a lot of Wall Street, public Market, New York Stock Exchange, synergies there, Sarah Eisen from CNBC, comes up and moderates the CEO panel. Most of the CEOs head down for interviews, on Wall Street and CNBC and Squawk Box and so forth. And we have that partnership still with CNBC this year. So, but as you shift it to what's happening in the capital markets as it relates to real estate and more specifically to hospitality, private equity has been the dominant capital type in hotel investment. And that's been the case for the last decade. And today that's really no longer the case. It's PE is still extremely active, but it's more diversified in terms of across investor types. So we're seeing, again, as I said, family offices, high net worth, a lot of sovereign, a lot of institutional capital that is growing materially, that is looking to hospitality to, to deploy capital. And with that, you're seeing a lot of opportunities around value add. PE is really your value add investor, right? They're looking for an underperforming asset or an asset that has the ability to perform at a higher level that's sharpening the edge, that's driving alpha. And so PE is really looking at this as a great opportunity as institutional capital comes in and is looking for stable, more stable returns, securitized assets, and an annuity like return over a longer hold period. It's a great opportunity for private equity to exit in a market in which it's been tough to exit. That being said, global hotel and fund allocations in hospitality and real estate has been tough, but it's growing and it's coming back. And so you've got a lot more money coming back into the market. And, and that's really, a positive thing. We having events across Asia, Europe, and the us it allows for us to drive that cross-border capital. US capital has been less active, but despite all the challenges, we still see a lot of, international capital, which wants to invest in the us. So that kind of diversification of capital is a real, real positive for the market. It, it means more liquidity, it means more exit opportunities to get off, on the off ramp for PE or any other investor. As more capital comes in, it offers more opportunities to exit. It provides or, or enables less sort of seasonality, if you will, in the marketplace, right? There's less of that volatility in the marketplace as all as well. So really the sharpening the edge is about having the education, the networking, and the quality of people in the room that have the money are looking to deploy and know how to create alpha. Getting those individuals together to hear from each other, engage with one another, and ultimately, build relationships with the ecosystem that helps a deal get done, transact that transacts, underwrites that deal, and then drives that alpha from an operating value creation perspective. Those are the folks that are in the room at NYU. Ryan Embree: And you're right in the middle of it. I mean, I remember waking up at the, the marquee and seeing Chris Nasetta on CNBC and a few hours later seeing him just a couple hundred feet up on stage in front of me. I mean, that's the possibilities right there. Alexi Khajavi: And talking to people, right? I mean, this is the beauty of the hospitality industry is there's really good people, right? They're just, at the end of the day, you may be running a public company, and on TV, you're sitting there talking to a franchisee of a Hampton that wants to meet the CEO. So it really kind of creates this very magical engagement where the fifth floor, sixth floor, seventh floor, eighth floor of the marquee are just a hive of activity with the best and the brightest from a franchisee to Chris Nasetta, to your point, there's not many places that create that access and that transparency and cross engagement from such a diverse, but focused, sector, as NYU. So it's a real, real special place to be. Ryan Embree: A thousand percent. And last year you used this forum to really get us fired up for some of the sessions in educations. And now you're talking about, especially with your experience here earlier in the year, people being more open to that, being more thirsty and, and hungry for that information, looking up and down the programming. Because we know you spoke to last year the detail and depth that your team goes to create these panels, and sometimes even putting on stage opinions that differ, that go head to head to one another, to try to get that friction to try to get a rise out of that engagement. Looking up and down the agenda this year, which sessions, if you had to pick a few, do you have your eyes on? Alexi Khajavi: Well, there's some, some obvious ones, but always at NYU, we've got some, some exciting ones as well. And the first one, our first session actually Monday morning, Anthony Scaramucci, the Mooch, who is an investor himself actually owns a restaurant as well, but certainly, podcaster and just an expert, on the economy, politics, the Trump administration having worked, I think 10 days, there, if I'm not mistaken. So, he's gonna kick us off. We always have a marquee name that's relevant to the industry, but he really has his finger on the pulse as to, one, what are all the geopolitics and the macroeconomics, in the overall state of the economy and the country, what impact is that having on the investment markets on where the opportunities are? Alexi Khajavi: And as he runs a restaurant what is he seeing? What does he think specifically of the hotel space? So I think that's, again, that's, that's just not something that you get at any of the other hotel investment forums, but you get that and you'll get it right, served with breakfast on Monday morning. So we kick off big and we kick off bold on Monday. Obviously Monday has, is a great day. We have the CEO council on Monday as well. Or sorry, the CEO panel that's the five top brands, again, interviewed by Sarah Eisen, which they have a great rapport with. And that really does set the tone for what they're seeing as the opportunities. Clearly they are on top of demand and where RevPAR and ADRs and occupancies are going, how they're performing and what the differences are by chain scale. There will be a lot of conversation around how much gas in the tank does luxury have I'm sure you'll hear differing views on that. And then are we gonna see a return to some of the midscale and upper upscale, as potentially people trade down but still travel and where's economy, where's extended stay? We've also seen these brands make some interesting investments in new concepts, graduate hotels, which is last year, yo hotels glamping and branded resi. That's a big day. In fact, we've got a full day of content on branded resi with active developers developing properties right now that are branded resi mix of hotel, mixed use, retail, hospitality and so forth. And then capital markets. Capital markets our Cap Talks session is probably one of our most popular, and that'll be a mix of both active US investors as well as foreign capital, international capital investors, sovereign Wealth, as well as private equity, which continue to look to deploy capital in the US. Alexi Khajavi: We then have Danny Meyer, who's the founder, and CEO of Union Square Hospitality, Shake Shack. And obviously a number of other incredible Union Square restaurants in the city here. But and then you've got your breakouts where you will be focusing a lot on the investment development market. Asset management is a key thing, how do you drive Alpha through the operations of these hotels? So there's a ton of content. We've left a lot of time for networking. We know that's where the deal making is the eighth floor, which is the lobby level. We've extended the event to include the Broadway Lounge, which is this beautiful lounge overlooking Times Square. We'll have, food and beverage in there throughout the days. Great space to network amongst all the delegates, including the ninth floor where we've got Marriott and Hilton taking that space. So it's just a ton going on. And the program's out, it's 90% there. We still got a few couple of marquee names that we're going to announce over the next few weeks. But really, if you're gonna be, if you're in hospitality, investment development and operations where you're driving Alpha, there really is no other place to be on the first and 2nd of June. You've gotta be there. Ryan Embree: Yeah. I can attest to it again, first time last year have the privilege of attending officially announcing the Suite Spot will be back at NYU this year. We can't wait. Our associate producer's gonna be traveling with me this time. This is her first time. And there is even a first timers meet and greet that you do as well at the event, which I had the privilege of partaking in networking last year. What type of tips for any hoteliers investors that might be considering or even attending the first time, what, what one piece of advice would you drill down for this event as the best piece? Ryan Embree: I would definitely get on the app. I know that the serendipitous meeting, which to your point, you bump into the CEO of Hilton or Marriott for that matter, is great. And that's, there's good value in that, but we have about 70, almost 80% of all delegates are on the app. That's great. And that's a great place to find people and to be found and it also gives you all the other information as the agenda speaker bios, but it allows for you to reach out to other delegates. So I would definitely do, that's, something that can be sometimes just overlooked or just not not done. And then I would go to the Sunday evening reception if it's your first time that's at the marquee, six o'clock, we get about 500 people there. A good mix of veterans and, and first timers. I would certainly do that. I would try and plan out your days ahead. It's amazing how with all that, with all everything that's going on, you can easily kind of get sidetracked. So if there are some sessions that you wanna see, you can bookmark them in the app and make sure that you, you don't miss those. But, I would, get some sleep, stay hydrated and be prepared to have some full days of education, networking and just a whole lot of fun. Ryan Embree: Yeah. And some of the receptions that are after hours at the end of the day, are absolutely amazing too. And I know you have sponsors that kind of do that, sometimes onsite, sometimes offsite, encourage, those to attend that in full force as well. Hospitality, we definitely know how to, to host a party, that's for sure. So Alexi, we appreciate you hosting us here on the Suite Spot and previewing this year's 2026 NYU. We are counting down the days until June. Thank you again to my audience to learn more information. Obviously visit the website, make sure you register. Any final thoughts before we wrap up today, Alexi? Alexi Khajavi: No, just very much looking forward to seeing you there and the other 2400 people that will be joining us. So, looking very much forward to it. And appreciate your time. Ryan Embree: All right, thank you, Alexi. Thank you for listening to The Suite Spot and hope to see you at NYU in June in New York City. To join our loyalty program, be sure to subscribe and give us a five star reading on iTunes. Suite Spot is produced by Travel Media Group. Our editor is Brandon Bell, with Cover Art by Bary Gordon. I'm your host Ryan Embree, and we hope you enjoyed your stay.