S2 E2 — Jesse Stein — The blurring lines between hospitality and multifamily
10/11/23 • 40 min
“I want to build more housing, and use that housing more flexibly.” — Jesse Stein
The lines between hospitality and multifamily blurred even more with Airbnb's recent announcement of long-term rentals. But the underlying truth is: renters want subscription-based flexible living.
In this podcast, Jesse Stein, the Global Head of Real Estate at Airbnb, shares his experience coming from the hospitality industry and how it informs his time in multifamily. Stein shares about Airbnb-friendly apartments and how it impacts the housing affordability crisis the country is facing. And the opportunity brands have to deliver flexible, subscription-style housing.
“One of the things that shocked me about the Multifamily space, is that there is no uniform operating model. You have centralized operating models, and you have regionalized or property-specific operating models. Each one works in its own vertical to a certain degree. But, the ability to roll out the hospitality component from a centralized model, we’ve seen be a little bit faster than a regionalized model,” said Stein. “I would say our partners are leaning into the hospitality component, not really due to Airbnb, but because that is the expectation of the consumer.”
Listen on Apple, Spotify, or wherever you get your podcasts.
About Jesse Stein:
Jesse Stein is Airbnb’s Global Head of Real Estate. Jesse oversees Airbnb’s strategy to create new supply and growth opportunities through real estate development projects and partnerships. He joined Airbnb from KHP Capital, a real estate private equity firm focused on investments in boutique and independent hotels. He has deep expertise in sourcing and executing development projects including hotel, timeshare, residential, and fractional assets. Prior to real estate, Jesse was pursuing a career in football and briefly played with the Jacksonville Jaguars.
To stay up-to-date follow Funnel on Linkedin and connect with Tyler there, too.
“I want to build more housing, and use that housing more flexibly.” — Jesse Stein
The lines between hospitality and multifamily blurred even more with Airbnb's recent announcement of long-term rentals. But the underlying truth is: renters want subscription-based flexible living.
In this podcast, Jesse Stein, the Global Head of Real Estate at Airbnb, shares his experience coming from the hospitality industry and how it informs his time in multifamily. Stein shares about Airbnb-friendly apartments and how it impacts the housing affordability crisis the country is facing. And the opportunity brands have to deliver flexible, subscription-style housing.
“One of the things that shocked me about the Multifamily space, is that there is no uniform operating model. You have centralized operating models, and you have regionalized or property-specific operating models. Each one works in its own vertical to a certain degree. But, the ability to roll out the hospitality component from a centralized model, we’ve seen be a little bit faster than a regionalized model,” said Stein. “I would say our partners are leaning into the hospitality component, not really due to Airbnb, but because that is the expectation of the consumer.”
Listen on Apple, Spotify, or wherever you get your podcasts.
About Jesse Stein:
Jesse Stein is Airbnb’s Global Head of Real Estate. Jesse oversees Airbnb’s strategy to create new supply and growth opportunities through real estate development projects and partnerships. He joined Airbnb from KHP Capital, a real estate private equity firm focused on investments in boutique and independent hotels. He has deep expertise in sourcing and executing development projects including hotel, timeshare, residential, and fractional assets. Prior to real estate, Jesse was pursuing a career in football and briefly played with the Jacksonville Jaguars.
To stay up-to-date follow Funnel on Linkedin and connect with Tyler there, too.
Previous Episode
S2 E1 — Alex O’Brien — A candid conversation on how company culture drives results
How to be the best place to work, in any industry, for anyone.
Alex O’Brien, CEO of Cardinal Group and co-founded the company with the goal of being the best place to work, in any industry, for anyone. The proof: Cardinal has been voted a Best Place to Work seven times. Cardinal believes in adopting new technology to provide team members with the skills they need to be relevant and successful in their next job — as a bonus, their teams like where they work, stay longer, oh, and it also drives results for the company.
About Alex O'Brien:
Alex is a co-founder and the CEO of Cardinal Group Companies. Over the past 15 years, he has held various leadership roles, including President of CG Management and COO, and was named CEO in May of 2020. He is responsible for the overall vision of the Company and for ensuring the Cardinal Culture is strong for the Company’s over 2,500 team members.
Prior to Cardinal Group, Alex was a Captain in the United States Marine Corps. He is a graduate of Miami University in Ohio and received his MBA from the University of Chicago’s Booth School of Business.
In his personal time, he serves the veteran community of Colorado as a Board Member of Salute Colorado and coaches youth sports.
About Cardinal Group Companies
Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, consulting, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships, focused on creating efficiency and above market performance via their commitment to challenging the status quo of the industry. To date, Cardinal Group Companies has developed several best-in-class initiatives, which have earned the company national recognition year after year. CGC’s management platform oversees nearly 90,000 student housing beds and nearly 40,000 total units across the U.S., including CGC’s owned portfolio and third-party managed properties.
To learn more about Cardinal Group Companies, please visit www.CardinalGroup.com.
To stay up-to-date follow Funnel on Linkedin and connect with Tyler there, too.
Next Episode
S2 E3 — The Report — OPTECH, rising costs, and housing affordability
Tune in to hear:
Tyler Christiansen’s take on recent multifamily news, and predictions on what you’ll hear at OPTECH.
Alex Howe opine on the sad state of Delta Airlines’ recent changes and why valuing the customer experience is paramount.
Listen on Apple Podcasts, Spotify, or wherever you get your podcasts.
To stay up-to-date follow Funnel on Linkedin and connect with Tyler there, too.
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