Die Evolution des Luxus: vom Maximalismus zur Personalisierung

the Future of Hospitalitythree to four years down the road. So does it also mean that True Luxury is also based on the people in the hotel, Like, the other guests is also part of true luxury. True luxury is exclusivity. Nice. Nice. And can you give some examples in regards to personalization, for example? I'm pretty curious. What do you mean with it?

Adam MogelonskySo personalization. Okay. Here's an example. We had a hotel down in down in Florida, and guest shows up and wants a specific type of beer. We didn't have that beer. Luxury. Why why don't you have that beer? Why don't you have that? Why don't you have that? So I said, okay. I'm sorry, sir. We don't have that beer. We have something next next to it. Will this work for now? Fine. Whatever. But this was already late at night. Next morning, we ran a custom SOP. We went out to the liquor store, sent a runner, and got picked him up a six pack of that beer, put it in a cooler in his room free of charge. Nice.

Adam MogelonskyThat's luxury. So it isn't just in the moment having everything at your disposal, all these things, but also the ability to personalize and to fulfill custom requests and adapt on the fly. The only luxury word said, well, this is it. We don't have your beer. Sorry. You can go to the liquor store yourself and get it and get it into the room or you can order it on Uber Eats. No. No. No. Luxury, you remember that, and you act upon it. You're hosts.

the Future of HospitalitySo that's one example, the sort of the micro to demonstrate the macro. Yeah. Nice one. And what, for example, of a hotel where the night rate is a little bit lower and they cannot afford that kind of personalization? Can it still give that luxury feeling? Because, I guess, of course, if somebody pays $2,000 a night, you can afford it to do it for a guest and to make it You have gross nominal margins. Yeah. But if you say, I don't know, 400, then you say, like, I won't go to the liquor store for each each and every guest. Doesn't make sense. So how can they can you give an example?

Adam MogelonskyWell, the the example there is, you know, there is 2,025, so we look at the data. And not just the data you're looking at, but other data. So how are you quantifying guest requests? Is that the restaurant somebody asked you for this beer? How many other guests have asked for that beer? Maybe you should put on the menu. So the request you can actually oblige them. Can you use things like TripAdvisor or your own guest surveys to source this and quantify it through sentiment analysis? Nice. Are you sending out good good enough surveys that are customized to actually incentivize people to to look at those surveys? That way your fulfillment rate on those surveys isn't zero to 1%, but can go up to five to 10%.

Adam MogelonskySo that way you can get more data. Nice. So There's a lot of ways that you can start off this chain to start to automate and then to deduce what your guests actually want to innovate your product over the long term and become better minute by minute.

the Future of HospitalityYeah. That I I love that one in regards to data. But on the other hand, I must say that when when it's if the guest would ask for a beer and it's there, it has less impact than when it wasn't there, and you you took it for him, especially for him, put it in the fridge, it has more an impact Yeah. Because you did something especially for him. So sometimes they just want to feel special that you do that you take that extra mile mile for the guest. I think that's part of luxury in in my opinion.

Adam MogelonskyYeah. I mean, it's, you know, the the whole idea of of feeling special. It's it's about it's about knowing your guest. I mean, a lot of luxury guests are very private individuals, and they wanna stay private. So standard SOP at a restaurant is you drop the food off, then you return two minutes later and ask, how are those first few bites? And what most luxury guests are saying when you do that, they're not gonna vocalize this, but they're saying in their minds when they shoot dark eyes at you, shoot daggers at your eyes is they're saying, f off. Leave us alone. So luxury true luxury is exclusivity.

Adam MogelonskyIt's also privacy. So you look at things like private dining where two luxury heads of companies, c level guys are having a private dinner in a private room. They wanna be left alone. You knock before you enter. You leave the food, then you leave them alone, and you knock before you enter again every single time. And you're silent, and then you exit, and you do not linger because they don't want you hearing their conversation. So we can innovate on certain ways, and that's a hard one to deduce. But, you know, you can look at staff SOPs at a restaurant to see what you can do to to improve service at scale, and that's a very tough one that we've looked at. But that comes down to employee empowerment and having ensuring that the staff fully know the menu and doing things like team tasting events, team wine events, they know the know the menu and can better sell it from the heart, things like that. Nice. Love that one. Nice.

the Future of HospitalityAnd can you talk talk about the trends that that hotels thought about that would be, like, amazing in regards to luxury, but eventually, it didn't work out as well, and it doesn't really mean luxury for the guests. That's, like, really overrated.

Adam MogelonskyI mean, it it depends because geographically speaking, all trends work. It's just a matter of where. And one of the big things we're seeing now is this design schism between minimalism and maximalism where the whole idea is now you have a lot of emerging themes within the space that is minimalism. And those work really well for particularly resorts where you don't want the interior spaces to conflict with the views and the exterior beauty, or you wanna have some sort of biophilic design that goes in. It's a little bit hard to design that way because it gets very expensive versus maximalism works better in urban locations where there is no view and there is no external beauty, so you have to bring the beauty indoors.

Adam MogelonskySo you're seeing a schism, but then if you see things like a maximalism at a resort, that might not work, or it gets tired very quickly after five years, and then you need to you you're looking already at the next PIP because your what was once your your luxury dining place is now sort of tired and is already already falling by the wayside in terms of sales maximalization.

the Future of HospitalityYeah. Sounds sounds like that. Indeed. And and what what role does wellness play in in luxury?

Adam MogelonskySo our thesis on the future is that hospitality is the future of hospitals. So you look at it and you look at what wealth is. Money is just a medium of exchange. So what are you exchanging it for? You're exchanging it for experiences. Right? Having a nice house that is quiet, has lots of space to move around, has clean air, and has pretty things to look at like artwork, just custom designed furniture, that's an experience. That's the human experience. Right? For having being able to afford $6,000 tickets to go see Taylor Swift and sit sit sit in the front row, that's an experience. So money is a means to an exchange for experiences because all experiences are is a way to for our consciousness to move through time.

Adam MogelonskyTherefore, longevity, wellness is the future of luxury because longevity gives us more time and more cognition, and therefore, it gives us more appreciation for our surroundings and more time for experiences, if that makes sense. I mean Makes sense. We look Yeah. I mean, you know, I I I speak with high net worth individuals about this, about the longevity revolution, and I speak with hotel owners about it who are also high net worth individuals. And you say, you know, right now, you're you're 60. You're an incredibly intelligent person, and you look the way you do. What if there was a procedure, a lifestyle adjustment that you could go through that would get you thinner, in better shape, improve your improve or stabilize your cognition to prevent decline into dementia or any other end stage disease, and preserve the way you look for the next twenty years? How much would you be willing to pay per year for that?

Adam MogelonskyAnd they go, well, you know, 10% of my of my annual earnings. How much did you earn last year? $10,000,000. So that's $1,000,000 per person per year. Right? That just gives you an individual case to show you the the TAM of longevity. And so you break that down. So $1,000,000 per year, a lot of that is gonna go to wellness consumables, stuff you buy at home, use at home, adjustments to your home, living environment, your home experience. A lot of that is gonna go to luxury hotels because wealthier people on average travel more than non wealthy people. Or well, let's just get a little bit more broad and say that luxury guests travel more often on average.

Adam MogelonskyAnd when they travel, they're gonna want to stay healthy, or they're gonna want to travel primarily for wellness. And so you see a lot of different ways that this is emerging. You have the luxury health clinics like the Lanzerhof, the Chenault Palace, the la Clinique La Prairie, Equinox Hotels, Canyon Ranch, even the Four Seasons is getting in on this, and One and Only and all these other brands where, essentially, you're going for a week long detox where you have a personalized itinerary and you're working with the best best in class wellness professionals, and they will make you better over one week. And this is all preventative wellness and integrated wellness where it's not necessarily going this one week and you're having a surgery done and then recovering. It's looking holistically at the body mind insofar as doing yoga, meditation, the eastern practices combined with the western practices of very, very good nutrition, supplementation, red light therapy, or other types of photobiomodulation, cryo, and all these other fun stuffs and all programmed and sequenced so you can fit it all inside of a weekend.

Adam MogelonskyAnd then, you know, that that week might cost you anywhere from 10,000 USD to a 100,000 USD depending on what you're ordering. I mean, if you're getting exosomes in there, yeah, it's gonna cost a lot.

the Future of HospitalityNow do you because I'm kinda curious when you talk about it. It feels like a little bit of futuristic stuff. Of course, there are little And juncture, the future's already here. It's not even distributed. So that's why I It's all I wanted to ask, like, how do you implement this? The future is here, like you said. How do you tell or talk to or tell about this? Like, let's implement it now because I think a lot of those people will say, okay. Let's do this later on because we're not there yet.

Adam MogelonskyOkay. So we we again, we we devise a plan. Right? What can you do now, and then how can we stage this out? And then within that, we do a feasibility study to show what your what your return on investment is gonna be for any CapEx scheduled, of course, as a PIP over the next three years. It's it's not rocket scientists, but it takes a lot of work to do. And, you know, for the level of work that that requires, it's gonna be 6 figures minimum to solve that for a hotel, to devise that plan that will then make them 7 to 8 figures annually from therein.

the Future of HospitalityTrue. True. And and if you then take a step to technology, in your opinion let's start with the the bad technology, if there is one. What technology do you think do you think is, like, overrated and should be used less in in luxury hotels? What do you think isn't luxury?

Adam MogelonskyI mean, that's tough to say again because it depends on geographic area. But Yeah. The the I mean well, one general one I was gonna say is we're moving right the midscale and the lower scale is moving towards hotels as vending machines. So you have automated check-in. You have digital keypad entry, etcetera. That's great for midscale where people just want wanna come in. They want a 18 square meter room that is clean and has lots and has and is ergonomic, so it has actual space to move around. Luxury, you want the check-in experience. You want that welcome experience where it's not just giving your credit card over for incidentals, but it's like sit down with a guest service agent, plan out your your stay, talk about exactly what you want, make all the necessary reservations if you haven't done so already during the pre arrival, and then and then enjoy.

Adam MogelonskyBut, yeah, digital check-in, kiosks, automated check-in, punch key cards, that that doesn't work in luxury. That isn't luxury. Luxury is is exclusivity, and part of that exclusivity is being treated like you're visiting a friend's house.

the Future of HospitalityAnd would you then even get out the the key the self-service kiosks in the luxury, like, no kiosk at all, like, no self-service at all, or would you make it, like, hybrid?

Adam MogelonskyI mean, it it depends on the use case. But if you're talking about check-in kiosks, I would never put that in a luxury hotel. That is not luxury.

the Future of HospitalityCool. And can you can you give me some examples of technology that that can enhance the guest experience, like, make it more luxury?

Adam MogelonskySo single room controls. So we have all these IoT or connected room devices. That's gonna keep coming up, and there's a lot of FF and E involved in in planning all that out and mapping out all that all that low voltage hardware that has to go in the room. But the more you add in, the more complex the room is gonna become. So you need a single point of access either through a tablet or some sort of wall mounted room control. And the luxury hotel room should, in a lot of cases, be better than the at home experience with that regard. As well, the wellness technology front, the hotels are a great place to start off with those because a lot of those machines can cost 6 figures and require a lot of space.

Adam MogelonskySo inserting them is a is a great way to start off with for the luxury end.

the Future of HospitalityYeah. I understand. So you think about the the in room luxury. That that's what you mean with there's a lot of opportunities there.

Adam MogelonskyYeah. There's there's always gonna be in room in room opportunities for for luxury. And, of course, this all has to be staged out because you have to renovate the rooms maybe to install a lot of these things and see what's possible. And, you know, you you can't just renovate a room willy nilly because you're pulling a product offline. So all that has to be scheduled and determined and and planned out.

the Future of HospitalityBut I guess that these opportunities also give you more revenue streams, like, right, if you if you do that? Like, more technology can also give you more revenue streams if you do it like

Adam MogelonskyIt does. Depends on the product. Sometimes sometimes you're you're it's a defensive play whereby if you haven't done a serious pip on the room in fifteen to twenty years, your room's product out is out of date, and you can't grow your your top line ADR. So you need to innovate on the room front, on the in room experience in order to preserve your ADR and protect it against inflation for the next ten years.

the Future of HospitalitySounds sounds logical. And if we talk about AI and I'm not talking about the the non communicative AI, like, not for the back end part of the hotel, but, like, more like guest facing AI. What do you think will happen with AI in regards to luxury? How will that play a role?

Adam MogelonskyI mean, again, you you wanna have you wanna have people to people communication as much as possible. So the AI for luxury is gonna happen on the back end, and it's gonna happen first off with a lot more properly connected data streams and data flows into a centralized data data lake and a and a data warehouse depending on what compliance and and transformation you're doing to that data. And then from there, giving back personalized information to either help help the guest service agents respond in the moment or to devise personalized itineraries and scheduling in various ways. So most of the AI utility is gonna happen on the back end in order to make the guest experience even better on the front end.

the Future of HospitalityAnd if you if you do have to say something about the front end, like, really, like, do you think there will be some kind of AI front end communication? Or

Adam MogelonskyLike, I mean, it's it's it's it's gonna be it's gonna be like a center model. So your you know, you have your front desk agent who a guest shows up at the front desk. You might already have some sort of biometric scan that that or face scans so they know who they are. So as they approach the front desk, the person at the front desk knows who they are. And then also on the second screen, it calls up their guest dossier and gives you, like, a top three points to aid in the conversation. You know, like, oh, you know, this person is allergic to peanuts at the restaurant. Right?

Adam MogelonskyEvery every server should know that. Right? And that can be done with technology, and you can have AI to determine the prioritization of those things. But it's gonna be a center model where it's not the AI communicating directly with the guest, but the AI aiding the guest service agent who is then gonna be talking to the guest. Yeah. Like an assistant. He's your Yeah. It's a centaur centaur centaur model. Right. The the the centaur model is based on the Greek myth mythological beast where the the workhorse, the body is the AI, and then the head is the human or the the upper torso is the human. And and that that's what we're seeing. Nice. Love that one. Nice.

the Future of HospitalityAnd can you tell me maybe a little bit about the story where you had a strategic session with an hotel, and you really changed their I don't know exactly what you do, of course, but you that that you had a lot of success by just changing their their mindset or or something else that really made a big big change in the revenue.

Adam MogelonskySo you you mean changing a hotel owner's

the Future of Hospitalityvision? Or Yeah. Like, I don't know. Maybe the vision or maybe not not in regards to design, but something like that you and I guess the hotels come to you. They want some kind of advice, like, how can we do better? How can we earn more money, of course? Like, most of the time, let's take a step back. Most of the time, what do you do that makes the most impact? Like, on a hotel that that already is open, not the new open open hotel.

Adam MogelonskyOh, okay. So existing products. So I can give you an example to then serve the greater whole. So we were brought on for a wellness project, and they'd already recruited a designer who then advised them saying, your your pool is being underutilized. You've noticed that. Let's design a whole new pool experience and build it out and make it Instagram friendly. And the cost for that build will be $10,000,000 when it's all said and done. We come out and we go, your pool is underutilized because it doesn't have good enough food service delivery. It's too far away for people to order drinks and all that. So where's your power outlet?

Adam MogelonskyLet's install a smoothie bar.

the Future of HospitalityRight? Yeah. And there you go. And did it make a difference?

Adam MogelonskyOf course, it did. Well Yeah. But save save the owner $10,000,000.

the Future of HospitalityHow much did this Hoolibar cost?

Adam MogelonskyWell, that was about 50 k when it's all all said and done, and then a lot of OpEx because you have to you have to staff it and, you know, fruit has a very limited shelf life, and we wanna do some interesting things. But, you know, again, you know, smoothies are awesome. Right? Especially on the side, you wanna and and that is a wellness amenity because, you know, when you're outside in the sun, you you do wanna have those vitamins coming in to protect your skin. So, that was a that was a fun little project and, you know? But part part of a part of a larger assignment, but nevertheless, it was just something where you wanna look towards value engineering.

Adam MogelonskyAnd the value engineering that the the two the the takeaway that I would have for readers here is to study something called survivorship bias. And survivorship bias was a type of statistics that stems from World War two. And it was Abraham Wald, who was a Hungarian Jewish guy who found himself working for the British air service because he was kicked out of his home country for whatever reason during the nineteen forties. And the assignment that he had was they had all these bombers that were coming back to Britain, and they wanted to know how to better reinforce the planes based on quantified bullet holes to know how to have more of their bombers survive runs over Germany.

Adam MogelonskyAnd what they noticed was that there was about twice as many bullet holes in the wings as in the fuel cellage of the body. Okay? So the standard statistics at the time said, okay. There's twice as many bullet holes in the wings as in the body. Therefore, we wanna reinforce the wings. Yeah. Abraham Wald came along and said, no. It's the exact opposite because we're only quantifying the planes that have made it back. The ones that had twice as many bullet holes in the fuselage were downed somewhere over Germany and didn't make it back, so they couldn't be quantified. So the lesson for everyone here is that there's the data you see and the data you don't see.

Adam MogelonskyAnd you have to be able to determine what the data you don't see is

the Future of Hospitalityin order to get a more holistic picture about how to value engineer any product. That's an amazing story. I'm going to steal that one from you. It's a Of course. Yes. It's an amazing story because that's what you said. They Yes. Survivorship bias per pervades everything.

Adam MogelonskyEvery single statistic you read in the news has survivorship bias in it. Question everything. Really question where where statistics are coming from, where their raw data is, what their dataset is, what fields are they measuring within that, and any sort of inherent biases within that. Because it all affects our assumptions, which which then affects our proposed outcomes.

the Future of HospitalitySo true. So true. Then I I I want just another example because those examples are too good, like, of the pool, because that's basically what it is. You could just you need to ask the right question and not let's build a new pool. Can you give another example? Another example of a hotel project where I changed their mind? Yeah. Where they should ask the the other question. Of course, the 10,000,000 saving for just a smoothie bar is maybe extreme one, but if you have another one,

Adam Mogelonskythen I would love your need. You you know, it's convincing a hotel owner to engage in in the wellness technology space. So that's it's an interesting area because the if you look at us at most wellness products right now, traditional spas, their their throughput is coming off of massages. Massage, massage, massage, massage, massage. But masseuses being a masseuse is a very tough job. You it is strenuous. You're on your feet and using your hands all day. You are also a psychiatrist, because you are have to talk to your people, you have to be empathetic, and that is very tough to do day in, day out.

Adam MogelonskyThere is a worldwide shortage on masseuses right now. Good masseuses and RMTs and physiotherapists. There's a worldwide shortage. So if you look at a SPA right now and you look at it through the lens of survivorship bias, you look at it and you go, well, I'm having most of my throughput right now is through massages. Therefore, we should find ways to do more massages. Easy. Right? So we can go through that exercise, and we can look at look at the data, and we can look at hotel ecosystems and look to say, okay, how are you effectively merchandising your massages online? How far in advance of spa arrival are you selling them? What's the what's the segmentation in terms of leisure transient hotel guests, day spa guests, corporate or group guests, etcetera, to see if we can increase across all silos to get more throughput, especially during off hours. Then we were looking at things like dynamic availability to see if we're selling our spas during our highest margin periods.

Adam MogelonskySo we wouldn't want to, for instance, be selling have our treatment rooms used for manis and pedis or other salon services that are more lower margin during a Saturday or Sunday afternoon when we could be selling massages in those spaces. If we are at roughly 85 or 90% above treatment room treatment room occupancy or treatment treatment room utilization. Speaking a little bit fast here. So dynamic availability is a is an AI based toolkit that can look at it and go, okay. How can we maximize time value of space and prioritize massages which are higher margin for those Saturday and Sunday time slots when we wanna be selling higher margin and we know we're gonna be getting the throughput anyway?

Adam MogelonskySo those are ways to increase our throughput via just massages, which is gonna be 80% of our SPA. That's great. Now we have to look at things like touchless technologies, are gonna be ways to amplify a spa in a relatively labor independent way with the overall thesis that masseuses are gonna be harder and harder to find over the years because there's a worldwide shortage. And therefore, we need to innovate and grow the top line without growing a proportional amount of labor. So you present some use cases. You you convince them over time, and you say, like, listen. These technologies are available. We can run treatment rooms like a multiplex during certain hours by doing an assessment of current utilization.

Adam MogelonskyWe've already maximized or yeah. Maximized our throughput of massages. We've done all we can using technology to get people to book in advance. We've we've worked with HR to to do a recruitment drive and get more masseuses, but it's tough. It's tough. It's tough. Now we have to look at other things. And then they go, okay. I see it. How much do those machines cost? What's the ROI? What's the programming gonna be like? How are we gonna sell them online? All that fun stuff.

the Future of HospitalityNice. At the first, they have to feel the pain. The pain must be huge, I guess, before they they have to try every I mean,

Adam Mogelonskymean, a lot of times they aren't feeling the pain. Like, yes, spa in terms of GOP contribution, it might be lower than a hotel pro a hotel product, but it still is producing and it still is giving a reason to visit for that hotel. So it isn't necessarily the feeling the pain financially in terms of NOI or net cash flow balance, but they still want growth. They still want to innovate. Hotel owners are are not they they are incredibly smart individuals. And let's let's just be clear on that. Hotel owners are very smart individuals. Very, very smart. And they understand hotel economics. They're living and breathing this world every single day. They care about their hotels. They care about every single guest and every single staff member. That's the job. That's what hotel owners is like.

Adam MogelonskyThey bring us on to help them see things that they might might miss because they care so much about their own product that they have a little bit of a tunnel vision on that. The phrase we use is when all you have is a hammer, the whole world looks like a nail. Right? So if you are slow focused on your own individual product, you might not necessarily have a more holistic view of other things that are happening in the world. So in this particular case, we present the feasibility of the low labor low labor, high margin well tech and also the concurrent picture of diminishing supplies of masseuses over the next five years.

Adam MogelonskyAnd then the prospects of developing and innovating and getting ahead of this Welltech trend that is still that is still emerging. It still has some consumer awareness to be done. So let's get ahead of that. And then you present that picture, and they'll get it. They'll see it. And then you put it in numbers, and you show the ROI for their specific hotel. And if you show a good ROI, they will execute. I mean, it's it's like anything. You you present a good enough business plan, it's it's too good to refuse.

the Future of HospitalityTrue. Has to make sense first, then the ROI, and then Yeah. Checkmate.

Adam MogelonskyYep. You start outside in. Feasibility, ROI, business plan, and scheduling. There you go. It's simple, but that still takes a lot of work to bring it to that point.

the Future of HospitalityTakes a lot of work indeed. Evan, we are almost out of time. Is there something else? Like like you said in the beginning, we had a lot of questions, but it will take another few hours to talk about everything. Is there something else that you would think that you you have to say that you that you really want to say? Give me anything. Right. So

Adam Mogelonskytwo two other trends. We we we talked about the longevity revolution and how it's gonna impact luxury. And The other trend that every hotel in the world has to be conscious of is the growing importance of sustainability. Sustainability is an overused word. The terms that we're using are eco stewardship. And what we're looking at right now is in the next big fat tail risk on worldwide travel aside from okay. So the fat tail we just had was the pandemic, right, where occupancy went from 80% to 0% inside of a month. There isn't gonna be another pandemic. There's only one every hundred years. Right? We just we're too collectively tired of hearing about COVID nineteen that, okay, somebody gets COVID. Alright. Yeah. Yeah. Just stay for a week and and then and then come back.

Adam MogelonskyYou know, that's the majority of people. There are some people that are still triggered by it, but the majority of people, it's done. It's over. There's not gonna be another pandemic five years from now. We have these systems in check to ensure it. We have vaccines, yada yada yada. So the next big fat tail risk is gonna happen in another camp. It could be an AI driven malware that causes massive security fraud and can destroy trust in our credit based society. That's one that every single cybersecurity expert on the planet is already working on. They're well aware of this. They're smart. But it is still a huge risk, and malware attacks do happen to hotels one on one, and there's data breaches and all that.

Adam MogelonskySo that's flat tail number one. But you do security audits. You do the best you can. And then if there is ever a generative a generative AI malware that's able to adapt on the fly, I mean, you know, banks will be affected before hotels. Hotels are are pennies compared to infiltrating a bank a bank digital security infrastructure. So not the biggest concern in my mind, but still ever present. The other one is this whole idea of climate change. So right now, I'm sitting in Toronto, and we've had about three feet of snow in the past two weeks. We didn't have any snow for the entirety of winter than three feet of snow inside of a weekend. It's literally brought the entire city to its knees.

Adam MogelonskyYou know, there's the forest fires in Los Angeles that destroyed, you know, one sixth of the city of a city that's 17,000,000. There's increasingly violent hurricanes. There's floods in Germany that that wash away towns overnight. Right now, we're shrugging these off as climate change events, and, yeah, we'll get through it. We'll survive it. But these events are getting more and more frequent and more and more severe. There is going to be a threshold event sometime in the near future where collectively the world governments are gonna say, we have to take a very strict stance on this or else our planet cannot bear this anymore. There's too much cumulative carbon emissions to handle any any further damage.

Adam MogelonskyAs an aside, what everyone here should look at is something called the wet bulb threshold, which is the temperature at which the ambient air moisture in the air goes above the temperature that's in our lungs. So every breath you take heats you up from the inside out instead of cooling you down. And if that happens in a in the global south somewhere, you could have a million people die overnight. Yeah. That's a tail that's a fat tail risk. Right? But dangerous. Right? So this whole idea of severe climate weather presents a huge opportunity for hot for luxury hotels. Everyone realizes worldwide that climate change is important, and they're gonna look for hotels to not only be, quote, unquote, sustainable, which is a checklist, but to be regenerative, to actually do something positive for this world. And regenerative can be supporting a local farm that's using regenerative agricultural practices.

Adam MogelonskyIt can be for resorts having regenerative agriculture on-site and making that your raison d'etre or part of a holistic experience that is wellness based. The Babylon store is a property in South Africa that does this, it is so incredible. And there there's a sister property, the Newt in England, which also does it, and there's other properties that were emerging worldwide. There's the farm in San Benendo in in The Philippines that does this. There's so many great things that are happening in luxury hotels with regards to eco ecotourism and regenerative tourism. But part of regenerative also means stewardship, which is preserving local communities. And you talk about as we move as we progress towards a global community, one thing that's being lost is the nuances of individual communities that are being left by the wayside in the face of increased urbanization.

Adam MogelonskySo you see things like the program at at the Virgin limited edition property in Morocco, the Temedot or Temedot, depending on how you pronounce it the French way. And they have a a program where they support local women in in their local crafts, something that's falling by the wayside as people migrate to the the urban centers in Morocco. And that's one example of cultural stewardship, preserving the local area. You know, do can you set up exclusive experiences for your guests to support a smaller museum or a smaller church that that has a proud history but falls off the radar and or is off the beaten path and doesn't get the droves of Instagram tourism people that that are overtouristing certain places.

Adam MogelonskySo you have regenerative tourism supporting the land and leaving the land better than when you're off to help actually do something against climate change. And then you also have cultural stewardship as well. And that's really what we're look looking at for luxury hotels is this whole idea of being patrons of the community, supporting the land, supporting the people with great jobs, supporting the local culture, and and innovating and and bringing that culture to the rest of the world. And that is the the this is a huge area of opportunity, and it will continue to be an area of opportunity for the next eighty years in luxury hotels because it ties directly back to that whole core meaning of a hotel with regards to its soul, its identity, its heart, and the exclusive and private experience that you can offer therein.

the Future of HospitalityYeah. That's cool that you say that because I spoke to a couple of GMs the last few weeks, and they all talked about this one involving the local community and making it more like a local experience and not just, you know, walls and nice paintings and nice whatever in the hotel.

Adam MogelonskyYeah. I mean, you know, again, hotel owners and hotel hotel general managers are incredibly smart individuals. They know they know these trends are happening. They're trying to do things, but the implementation upon these things is thousands of hours of work to do. I'm not I'm not kidding. It's thousands of hours to work. And GMs, they they work really hard. Like, they are on call twenty four hours a day. They have to be in for the morning meetings. They have to look sharp. They have to be guest facing, staff facing. It is an unenviable job, and they deserve all the kudos they get for the hard work they do. Oh, it's a good the luxury.

the Future of HospitalityYeah. All of the centric. Then I guess we're out of time here, Adam. I really like your insights. I got some stories that are Yeah. Going to put in my pocket. Going to use it. Awesome. So thanks again, and we'll be in touch.

Adam MogelonskyAwesome. Thanks a lot.