On October 15th, 2020, Brad Korman, Co-CEO, Korman Communities, and Jake Reiter, President, Verde Capital, moderated BizNow's CEO Roundtable, where leaders in healthcare, retail, hospitality, and real estate discussed the state of their industries during Covid-19, the changing trends effecting their businesses, historical perspectives, and predictions for a post-pandemic world.
During this first virtual CEO Roundtable, which drew nearly 700 viewers, the disruption and impact of the Covid-19 pandemic was at the forefront of the conversation. After hearing Bennet Lomax, CEO, Lomax Companies, state that his mission of doing well by doing good and fueling growth in under-served areas is not being deterred, Brad Korman emphasized how the current situation has highlighted more than ever how “all our businesses are interconnected.” Retail, healthcare, hospitality, airlines, all depend on each other. Helping each other and our communities creates a stronger and more resilient society for everyone, a rising tide lifts all boats.
One prediction for the future of the hospitality is a new type of travel called bleisure, combining business travel with leisure time. With many workers enjoying increased flexibility, travelers are looking for longer-stays in larger spaces, where they can work during the day, and enjoy their new surroundings after-hours. This prediction is supported by trends that Korman's Communities is already seeing. The flexibility of a Korman property, focusing on space, comfort, and long-stay value, offers the ideal choice for this new type of traveler.
A common theme expressed throughout the discussion is that while online businesses, like Amazon, Zoom, and Netflix, serve the stay-at-home economy, the pandemic at the same time reveals the value of community, the desire of people to interact in public spaces, and the basic human need for the experiences of getting out and gathering together in places like shopping centers, movie theaters, restaurants, urban plazas, and hotels.
Watch the entire webinar, The CEO Roundtable: A Gathering of High Profile Executives to Discuss the Future of Various Asset Classes in a Post-Pandemic World at BizNow.
Jake Reiter, President, Verde Capital, a national real estate private equity and wealth management firm.
Brad Korman, Co-CEO, Korman Communities, a 100-year old residential real estate company, operating Class A multi-family apartments and luxury serviced residences in the United States and London.