Beyond the Front Desk - Walter Peseski - Defining Hospitality
"It's not how fast can we increase the value of this hotel and flip it. It's how can this hotel contribute to the community."
Audio Links:
Spotify: https://open.spotify.com/show/0A2XOJvb6mGqEPYJ5bilPX
Apple Podcasts: https://podcasts.apple.com/us/podcast/defining-hospitality-podcast/id1573596386
In this episode of Defining Hospitality, Dan Ryan sits down with Walter Peseski, Senior Vice President of Asset Management at Garfield Public Private, to explore the often misunderstood world of hotel asset management and public private partnerships. Sponsored by BERMANFALK, this discussion uncovers how cities, universities, and hospitals are leveraging creative financing structures to build hotels that serve as economic catalysts for entire communities.
Takeaways:
Hospitality is the heart behind the service. Service is the technical delivery, but hospitality is why you do it. It’s the warmth that makes someone want to tell others about their experience.
Speak up when service is exceptional. Most people only give feedback when something goes wrong. Taking a moment to recognize great service goes a long way and reinforces the culture you want to see.
Great hospitality requires both product and service. If one is missing, the whole experience falls apart. Excellent service can’t fully compensate for a poor product, and vice versa.
Third-party asset management pays for itself. An asset manager typically finds enough low-hanging fruit in the first year to cover their fee, they ask the right questions and advocate purely for the owner’s interests.
Know what matters to you before choosing your career path. Whether it’s schedule, income, or passion for people, identifying your personal priorities early helps you find the right lane in a broad industry.
Explore all avenues of hospitality, not just working in a hotel. Finance, development, asset management, and design are all part of the industry, your strengths might be better suited somewhere other than operations.
Hotels built as community investments outperform those built purely for profit. When a hotel and convention center serves as an economic catalyst for its city, the long term value it creates far exceeds what a yield-maximizing developer would achieve alone.
"It's not how fast can we increase the value of this hotel and flip it. It's how can this hotel contribute to the community." - Walter Peseski
Building a hotel, brand, or guest experience? Reach out to Dan on LinkedIn or hit reply on the Substack to share what you’re working on.
Connect with Walter:
Walter Peseski LinkedIn : https://www.linkedin.com/in/walter-peseski/
Garfield Public Private : https://www.garfieldpublicprivate.com/
🏨✨ Defining Hospitality is Sponsored by BERMANFALK
Check out their impact page! 🌍🌱 https://www.bermanfalk.com/impact/