Defining Hospitality Beyond the Front Desk - Walter Peseski - Defining Hospitality
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:
- Subscribe: https://www.youtube.com/@defininghospitality?sub_confirmation=1
- Substack: https://www.defininghospitality.live/
- BERMANFALK: https://www.bermanfalk.com/
- Ed Bakos LinkedIn: https://www.linkedin.com/in/edmond-bakos-62102014/
- Champalimaud Design: https://www.champalimaud.design/
- Dan Ryan LinkedIn: https://www.linkedin.com/in/thedailydanryan/
Tags:
#DefiningHospitality #AssetManagement #PublicPrivatePartnership #HotelDevelopment #HospitalityBusiness #HotelInvestment