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.

About the Guest:

Walter Peseski is the Senior Vice President of Asset Management at Garfield Public Private, a firm specializing in public private partnerships for hotels, convention centers, and cultural infrastructure. With over 20 years of experience in hotel operations and asset management, Walter has built a career bridging the gap between public entities and private developers to bring transformative hospitality projects to life. An adjunct professor at Dallas Baptist University and contributor to Hotels Magazine, Walter is passionate about educating the next generation on the full scope of opportunity that exists within the hospitality industry that goes far beyond the front desk.

Chapters:

01:00 Introducing Walter Peseski

02:00 What Does Hospitality Mean to You?

03:00 The Valentine's Day Server Story

05:00 When Was the Last Time Service Was Memorable?

06:00 What Makes Garfield Public Private Unique?

09:00 The Role of Asset Management vs. Hotel Management Companies

13:00 How Ownership Groups Get Involved

15:00 When Does Third Party Asset Management Make Sense?

17:00 Hotels Are a Different Beast Than Multifamily

19:00 Navigating Brand Standards & CapEx

21:00 Hilton's Carrot and Stick Fee Structure

23:00 Downscaling Brands & the "Under Demolished" Theory

27:00 Blind Spots Small Operators Miss

29:00 The F&B Double Edged Sword

33:00 When Brand Standards Become a Straitjacket

34:00 What Makes a Good Deal vs. a Great Deal in Public Private

36:00 Why Cities Invest in Hotels

38:00 Where Garfield Is Seeing the Most Opportunity

39:00 How Cities Finance These Projects With Bonds

42:00 The Sweet Spot: Upscale to Upper Upscale

43:00 Why Walter Started Teaching

45:00 Career Advice for Anyone Entering Hospitality

49:00 What Walter Is Most Excited About

51:00 How to Connect With Walter & Outro

Quote of the Show:

"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.

Links:

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• BERMANFALK: https://www.bermanfalk.com/
• Ed Bakos LinkedIn: https://www.linkedin.com/in/edmond-bakos-62102014/
• Champalimaud Design: https://www.champalimaud.design/
• Help preserve a generation of American history: https://www.tunisonfoundation.org/donate
• Dan Ryan LinkedIn: https://www.linkedin.com/in/thedailydanryan/

Tags:

#DefiningHospitality #AssetManagement #PublicPrivatePartnership #HotelDevelopment #HospitalityBusiness #HotelInvestment