975: Why Hotel Deals Are Stalling: Suraj Bhakta on PIPs, Inflation & Transactions

I spoke with Suraj Bhakta, CEO & Chief Legal Officer of NewGen Advisory, for #NoVacancyNews about what’s really happening in today’s hotel market. Suraj broke down why #PIPs have become one of the biggest roadblocks in #hospitality deals—lenders reluctant to fund them, costs rising, and brands sometimes using them as leverage in negotiations. We also covered: 👉 How #inflation and tariffs are driving unpredictability in construction and operations 👉 Why the gap between buyer and seller expectations is slowing transactions 👉 The importance of being realistic about asset value before going to market Suraj’s advice to owners? Run the numbers as if you were the buyer. If it doesn’t pencil for you, it won’t pencil for anyone else. A timely, no-nonsense look at hotel transactions in today’s environment. 🔗 Watch the full episode: [Insert link] 🌐 Learn more at newgenadv.com Special thanks to Actabl for supporting the show. Benchmark your performance this budget season at HotelData.com.

Thrilled to join Dr. Suzanne Bagnera on No Vacancy Live as we caught up with our longtime friend Leora Lanz, author of Developing Your Marketing Mindset: Real World Lessons from Hospitality. Leora has spent more than a decade teaching at Boston University, blending consulting expertise with case studies to prepare the next generation of #hospitality leaders. She reminded us why every business needs a marketing mindset—and why adopting a #hospitalitymindset is just as important. Some takeaways that stood out: 👉 Critical vs. strategic thinking — #criticalthinking helps us analyze deeply, while strategic thinking ensures insights actually shape long-term plans. 👉 Authenticity matters — customers quickly see through surface-level “green” or “wellness” claims. Real impact starts with culture. 👉 Marketing with meaning — connecting authentically around wellness, sustainability, and community drives loyalty and profitability. Leora’s book is filled with stories, case studies, and even scorecards to help leaders put these lessons into practice. Highly recommend it. 🔗 Get the book: Buy it here Special thanks to Actabl for supporting the show. Learn more at www.Actabl.com.

No guest, just unadulterated Glenn, Craig, Dave and Suzanne joins from the road... literally!

This story is living what I have been preaching: Keep humanity in hospitality.  At Saint John’s Resort outside Detroit, they’re all in on this concept; and a whole lot more.   Kevin Doyle, COO of the Pulte Charitable Family Foundation, and longtime friend of the show Chris Green, President of Humanitarian Hotels share their story, and it blew me away. This isn’t just another #luxuryresort. Here’s what makes it different: 100% of hotel profits go to charity. Every wedding, golf outing, or stay directly supports local communities, global causes, and provides jobs for people with intellectual and developmental disabilities. In just the last two years, they’ve given more than $6 million to nonprofits in Detroit alone—and millions more worldwide. It’s living proof that hospitality can be a force for good. One striking moment: even a simple lunch choice has impact, with proceeds feeding families in need around the globe. Guests aren’t just enjoying an event or a stay—they’re creating meaningful change. How do you think hotels (or any business) can build more purpose into their model while still delivering world-class experiences? Special thanks to our advertiser: 👉 Actabl gives you the power to profit. Visit Actabl.com to explore tools that drive performance and benchmarking insights for budget season and beyond.

On the latest No Vacancy podcast, Anthony Melchiorri and I had a great conversation with Blair Wills, CEO of StepStone Hospitality, and Michael Broadhurst, COO of StepStone Hospitality. StepStone has grown from a single property in 2007 to a 30-hotel portfolio today—and they’re at that critical inflection point where management companies have to decide if they’re going to stay lean or scale up. We dug into some big topics: 👉 Why GMs are really the CEOs of their hotels 👉 The tough balance between owner expectations and on-the-ground realities 👉 How tech only matters if it actually frees up time for guest service 👉 Why “growth from within” isn’t just nice to say, but essential for long-term success One line that stuck with me: “We’re in a people business. It’s all about finding the right people and giving them the tools to succeed.” That got me thinking… how are you creating growth opportunities for your teams right now? Is it about training, mentorship, new tech, or just giving them more face time with guests? Would love to hear what’s working across the #hospitality community. Big thanks to Actabl for supporting the show! They’re helping #hotels get smarter insights and stronger profitability—and now offering benchmarking data at HotelData.com. Worth checking out as we head into budget season. Always grateful for great conversations on #leadership in our industry.

Glenn is at a bar on Macinac Island at the Inn at Stonecliffe with longtime friend of the show Chris Green He's now President at Humanitarian Hotels which that company owns. Craig and Producer Dave are probably ealoous, but we're all having some cocktails and laughs to kick off the weekend!

Not many CEOs start their careers bartending at 18 — but that’s exactly how Bill Hornbuckle, CEO of MGM Resorts International, got his start. In this incredible #NoVacancyNews conversation, Bill shares how he went from bussing tables at the Jockey Club to leading one of the biggest names in hospitality. We talked about: •    🍸 Lessons learned behind the bar that shaped his leadership style. •    🎰 The evolution of Las Vegas from a Mafia-run town to the global entertainment capital. •    🏒 Why sports and entertainment are redefining the Strip’s future. •    🌍 MGM’s ambitious global projects, including Japan’s $12.5B Osaka resort. •    💡 His advice for young people in hospitality: be patient, be present, and be known for something. This industry is special because #hospitality stories like Bill’s are possible. From busboy to CEO — that doesn’t happen everywhere. I’d love to know: what’s the best “start from the bottom” story you’ve seen in hospitality? And a huge thanks to Uniguest for making this series possible. Uniguest’s hotel hub solution connects the customer journey to your messaging and branding. Please check them out at uniguest.com. This is part one of a five-part series we’ll be rolling out throughout the fall focused on the executives running MGM. Look out for amazing behind the scenes chats with: •    Mike Neubebcker (President of MGM Grand, NY – NY and Excalibur) on what it’s like three major integrated resorts. •    Lance Evans, SVP Sports and Partnerships on how sports are changing Las Vegas and the upcoming arrival of baseball  •    Sarah Rogers, SVP of Corporate Finance, on how a major company like MGM Resorts thinks about investment, refinancing, structuring deals and entering Osaka Japan •    John Flynn, SVP of Global Security and Aviation – What it takes to create an amazing and seamless F1 race experience in November. 

I just had a fantastic conversation with Emily Wright, VP & Global Brand Leader at Hyatt, along with my buddy Anthony Melchiorri. Emily’s been with Hyatt for nearly 20 years, and the passion she brings to the role is clear. We covered a lot of ground, but here’s what really stood out to me: Hyatt has grown from 4 core brands to a wide-reaching portfolio—and they’re still expanding. The launch of Hyatt Studios and Hyatt Select is about filling real gaps in the market, especially in secondary and tertiary cities. World of Hyatt loyalty is exploding—58 million members strong and growing. Guests have zero tolerance for inconsistency anymore. Convenience and reliability aren’t perks—they’re table stakes. What I loved most was hearing how Hyatt balances deliberate, thoughtful growth while keeping guest experience at the center. Do you think Hyatt’s careful growth strategy gives them an advantage—or is the race to scale moving too fast for anyone to stay methodical?   Special thanks to our advertiser: 👉 Actabl gives you the power to profit. Visit Actabl.com to explore tools that drive performance and benchmarking insights for budget season and beyond.  

What’s really happening in the global hotel pipeline? Glenn Haussman sits down with Bruce Ford, SVP at Lodging Econometrics, to break down the numbers, trends, and transformations shaping hospitality development worldwide. From luxury’s evolution into intimate, multi-gen-friendly resorts to the rise of dual-brand properties and strategic conversions, this episode delivers insights that matter to owners, developers, and hospitality pros alike. Special thanks to our advertiser: 👉 Actabl gives you the power to profit. Visit Actabl.com to explore tools that drive performance and benchmarking insights for budget season and beyond. 🔍 #novacancynews #hospitalitydevelopment 🔑 Key Highlights: 📈 430,000+ rooms expected to open globally in 2025—what that means for the industry 🏨 Luxury redefined: smaller footprints, integrated villas, and private residences 🧩 Membership models and branded residential offerings gaining traction 🏗️ Upper Upscale and Upscale growth across continents, with dual-brand formats thriving 🔄 Conversions surge as aging inventory hits critical renovation cycles 🌍 Top global markets for new construction—China, Dallas, Orlando, and more 🎡 Disney’s expansion and Epic Universe’s ripple effect on Orlando’s hotel scene

New Orleans isn’t just about beignets and brass bands—it’s a test case for how hotels handle unpredictable demand. I spoke with Ken Jacques, GM of Le Meridien New Orleans, which is operated by Stonebridge, about how he’s planning for 2026 and what it really takes to run a hotel in a city built on events. Here’s what stood out: Hotels can’t just copy last year’s budget — they’re recalibrating daily Events like Mardi Gras, Jazz Fest, and UFC change everything for revenue planning Instinct plays as big a role as spreadsheets when forecasting demand International travel remains a wild card that could shake up results New Orleans is seeing its cleanest, safest stretch in decades—and that’s great for business Ken pulls back the curtain on hotel strategy giving me new perspective on how leaders adapt in real time. Special thanks to Actabl: Actabl gives you the power profit. Visit them at Actabl.com. #NoVacancyNews #Hospitality