Episode Details

Hotel sales in the US are up 28% in the first half of 2026 — and a meaningful chunk of that activity is chasing bad Yelp reviews, not trophy assets. JMI Realty founder Drew Bridges joins the show to break down how his firm is using AI to source acquisition targets off terrible guest feedback. The specific deal: a Hilton Garden Inn in Austin bought for $100K per key that reviewers called "janky" and "a complete nightmare." Drew walks through the renovation math, why he's keeping the brand, and why only 184 of 789 US submarkets have outpaced CPI since 2019 — a stat that underpins his thesis that a massive basis reset is underway across the industry.

Then the crew digs into Rafat Ali's latest column arguing that independent boutique brands have effectively become the outsourced R&D labs of the global flags. Graduate, Nomad, Standard International, Ace, CitizenM — all absorbed in the last two years. Edwin pushes back: maybe the right size for a great independent brand is just smaller than anyone wants to admit. Scott says 95% of what the public hotel companies do is shareholder theater. Ben says the Edition model — bring in a founder, protect the brand — is the playbook nobody's replicated.

Spice of the week: Scott on Google's move toward agentic hotel booking and what it means for distribution. Zach on United's cinematic route reveal and the coming shift from performance marketing to storytelling. Ben on why the real risk isn't a failed bet — it's doing nothing in an industry full of dinosaurs.

Drew Bridges joined JMI Realty in 2011 as a Financial Analyst, where he underwrote new development, acquisition, and financing opportunities. Today he leads Investment Management for JMI's developed assets, overseeing property management, implementing capital expenditure and value enhancement strategies, and managing investor relations.

A graduate of Cornell University, Mr. Bridges began his career at Archon Group in Dallas, where he worked on initiatives ranging from the acquisition of non-performing loan portfolios to the spin-off of what became Pillar Hotels and Resorts.

Drew on LinkedIn: https://www.linkedin.com/in/drewbridges/

Zach Busekrus — Journey

LinkedIn: https://www.linkedin.com/in/zachbusekrus/

Instagram: https://www.instagram.com/behindthestays/

Scott Eddy — Global Travel & Hospitality Expert @MrScottEddy

LinkedIn: https://www.linkedin.com/in/mrscotteddy/

Instagram: https://www.instagram.com/mrscotteddy/

Ben Wolff — Founder of Onera & Oasi

LinkedIn: https://www.linkedin.com/in/ben-wolff/

Instagram: https://www.instagram.com/iambenwolff/

Edwin Kramer — Luxury Hotelier Consultant & Former GM

LinkedIn: https://www.linkedin.com/in/edwinckramer/

Instagram: https://www.instagram.com/edwinkramer/