The Hospitality Industry Needs To Be Optimistic And Raise Prices, Says William Perch Nelson

·3-min read

What core values do you hold that help guide you in business?

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My guiding values in business are people, first and foremost. I believe an organization is only as strong as the people behind it. As a leader, I try to lead our team down a pathway to success, on both a personal and professional level.

You started this business in a competitive industry and became successful quickly. What’s your secret to success?

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We have been successful in a competitive industry because we challenge conventional thinking – the hotel industry is in my DNA! Early on in my career, I realized that a successful and profitable balance sheet could only be achieved if hotel properties were actively managed. We strive to stay relevant, we work hard on behalf of our investors, and we have fun while doing it! We are the steward of our investor's capital, and we take that very seriously.

What are you seeing in your industry or market right now?

The best acquisition opportunity I have seen in my 30-year career is occurring right now. COVID-19 is a medical issue, not a financial crisis. Thus, we can now see the light at the end of the tunnel. Travel is up, the hotel recovery began in March, and has been accelerating since then. Now is the time to buy before values return to 2019 levels.

What is your #1 value proposition for your clients?

Our best value proposition for our clients is our team that is built with highly experienced hotel operations professionals. Thus, we have the bandwidth to optimize revenue and value in the daily operation of a hotel property.

What makes you different from the other X in your industry?

We are different from others in our industry because of our people and our approach to hotel investments differentiate our approach from our competitors. Our approach is to create value and not to depend on market lift, though that is helpful. Each hotel is an operating business, as well as real estate, and our team is experienced in creating value through hotel operations. It's not enough to have a sound approach – you have to know the team that can execute the strategy.

Personally, what is your secret to your successful career?

My scret to a successful career is a bit of a cliché but it fits: lead by example! A good leader should never ask someone to do something that they would not do themselves. A leader can talk a good game, but they have to lead through their actions. A good leader must also encourage aggressive mistakes that challenge the norms and be supportive of failure.

What qualities do you look for in your ideal business partner or next hire?

I look for two things in an ideal partner or hire: first, can I really trust this person or organization to be who they say they are? Can they evolve or grow into that role? Second, are they a "fit" in our culture of “people first?” No one person is greater or more important than the team as a whole.

Is there anything else YOU would like to talk about?

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