S2 E2 — Jesse Stein — The blurring lines between hospitality and multifamily
“I want to build more housing, and use that housing more flexibly.” — Jesse Stein
The lines between hospitality and multifamily blurred even more with Airbnb’s recent announcement of long-term rentals. But the underlying truth is: renters want subscription-based flexible living.
In this podcast, Jesse Stein, the Global Head of Real Estate at Airbnb, shares his experience coming from the hospitality industry and how it informs his time in multifamily. Stein shares about Airbnb-friendly apartments and how it impacts the housing affordability crisis the country is facing. And the opportunity brands have to deliver flexible, subscription-style housing.
“One of the things that shocked me about the Multifamily space, is that there is no uniform operating model. You have centralized operating models, and you have regionalized or property-specific operating models. Each one works in its own vertical to a certain degree. But, the ability to roll out the hospitality component from a centralized model, we’ve seen be a little bit faster than a regionalized model,” said Stein. “I would say our partners are leaning into the hospitality component, not really due to Airbnb, but because that is the expectation of the consumer.”