Defining Hospitality | Small Moments - Stephen Wendell

Small Moments - Stephen Wendell - Episode # 067

August 24, 2022 / 47:20/E67

Today’s guest is highly skilled in corporate law and real estate. He joins the show to share his unique journey through #hospitality. Stephen Wendell is the CEO of Mountain Shore Properties. Stephen joins the host Dan Ryan to talk about what hospitality means to him and his passion for the industry.

Takeaways:

Hospitality is one of the hardest asset classes within commercial real estate. You have to deal with a lot of local politics and there is more to navigate.
When opening up a boutique hotel or restaurant, you want to make something that the locals really care about and tourists will love and appreciate.
There are more money-conscious decisions that you can make to save money when looking at making a hotel. You don’t need to spend thousands of dollars on high-speed internet when you can get it for $150.
Hospitality is made of small moments that add up to be something meaningful for the guests. Whether it’s coffee or a well-placed reading nook, it’s a welcoming feeling.
When designing a space, you should consider if what you are going for benefits the guest and the community you are in as a whole.
You don’t have to always agree with someone you are working on a project with. A healthy discussion can lead to a better product.
When it comes to running a restaurant or a hotel, it’s important to praise the employees working through the pandemic and keeping those places open.

Quote of the Show:

17:47 “It really is the small moments which then makes developing these hotels so difficult because what really translates to the guests and gets them excited is a very, very small moment.”

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