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May 2026

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An investor's perspective on hospitality & culture. Subscribe to the weekly journal at www.thestanzamedia.com

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June 16, 20261 hr 20 min

The Developer's Playbook: Building a €3B European Lifestyle & Luxury Hotel Portfolio with David Zisser

Part I: The Architecture of the Guest ExperienceLa Bottega Collective designs and produces the physical and sensory touchpoints of the luxury hotel stay, from bathroom formulations and textiles to amenities, gifting, and retail, working with 15,000 properties across 117 countries, from the world's most recognized hotel groups such as Aman and Four Seasons, to the finest independent properties such as Passalacqua and Il San Pietro di Positano. Tommaso Pacini, CEO of La Bottega Collective, argues that the guest experience is not a collection of amenities but a coherent sensory language, and that the hotels who understand this are the ones building something guests cannot find, replicate, or buy anywhere else.In Part I of this episode, Tommaso walks through how La Bottega Collective reads a property before designing a single touchpoint, why the choice between licensed and fully custom product programs is ultimately a question of time and conviction rather than budget, and how the most effective guest experience artifacts extend the emotional memory of a stay well beyond checkout.Thank you La Bottega Collective for making this episode possible. Learn more and get in touch with La Bottega Collective ⁠here⁠.Follow La Bottega Collective on Instagram ⁠here⁠.Part II: The Developer's Playbook: Building a €3B European Lifestyle & Luxury Hotel Portfolio with David ZisserEpisode starts at (17:22)David Zisser is the founder of Omnam, a €3 billion European hotel development and investment platform with a portfolio concentrated in lifestyle and luxury assets across Italy and key European markets. His recent projects include the Edition Lake Como, W Rome, which he credits with catalyzing what W Hotels internally called its 2.0 positioning, and the Hotel Bauer Venice, acquired out of a bankruptcy process in partnership with Mohari Hospitality and flagged with Rosewood. He is currently developing a proprietary hotel brand, with a Paris property featuring Pharrell Williams as creative director serving as its first expression.Omnam operates across the full development stack, from site identification and capital structuring through to brand selection, design intent, and operational oversight. Omnam’s LPs include institutional investor Bain Capital, and Mohari Hospitality, with whom David has built a partnership centered on a shared conviction about where luxury hospitality is heading. Omnam has worked with several major third party operators, and that breadth of exposure now informs both its underwriting discipline and its decision to build its own brand from a position of genuine industry knowledge rather than ego.In this episode, Nadine sits down with David to explore what it really takes to build a multi-billion euro development platform in luxury hospitality, from navigating fundraising from institutional capital and large family offices to acquiring one of Venice's most storied hotels out of bankruptcy.INTERVIEW HIGHLIGHTSDavid's deal framework, and why any project where success is contingent on factors outside Omnam's control is a passHow the Hotel Bauer acquisition came together out of a bankruptcy process, with competing global bidders, layered political dynamics, and a timeline that tested everyone involvedUltra-luxury brand dilution and which operators are most exposed as generational wealth transfer acceleratesDavid's view on ADR stabilization, total in-hotel spend capture, and why the P&L conversation that matters most is not the one most investors are havingWhy David believes hotel operators should exit F&B operations, and what a properly aligned fee structure looks like from an owner's perspectiveThe tension at the center of building a scalable brand from a singular, heritage-driven flagship assetWhat David learned from managing institutional capitalLearn more about Omnam’s portfolio ⁠here⁠.Follow Omnam on Instagram ⁠here⁠.

May 6, 202654 min

The Art of Emotional Storytelling: How Airelles Builds Ultra-Luxury Around History & Generosity with Anne-Laure Ollagnon

Part I: The Travel Advisor as Curator(00:00:27)Erina Pindar, COO of SmartFlyer, argues that the travel advisor’s core product is less about access but more so curation and personalization: the construction of high-emotional-impact moments that exist outside the algorithm and cannot be replicated through self-booking.In Part I of this episode, Erina walks through how SmartFlyer conceptualizes experiences designed to generate genuine surprise for HNW clients, why safari travel has seen a measurable resurgence in demand post-pandemic, and what the rise of multi-generational, long-stay itineraries signals about how the most valuable travel clients are beginning to define the category for themselves.This episode was made possible in partnership with SmartFlyer.SmartFlyer works with hotel owners and management companies looking to access a HNW traveler base that sits outside standard distribution channels. Reach out to learn more.hello@smartflyer.com Learn more about SmartFlyer hereFollow SmartFlyer on InstagramPart II: The Art of Emotional Storytelling: How Airelles Builds Ultra-Luxury Around History & Generosity(00:09:54)Anne-Laure Ollagnon is the CEO of Airelles, the French ultra-luxury hotel group owned by entrepreneur Stéphane Courbit, whose portfolio of historic properties spans France and, as of this month, Italy. She joined the group in 2007 when Courbit acquired the original property in Courchevel, bringing a background in M&A law that shaped her approach to transforming heritage buildings into destination assets.Airelles follows a full ownership model across almost all of its portfolio: Airelles Courchevel, Airelles Val d’Isère, Château de la Messardière and Pan Deï Palais both in Saint-Tropez, La Bastide de Gordes in Provence, and Palladio Venice on the island of Giudecca.The one exception is Le Grand Contrôle, the only hotel inside the grounds of the Palace of Versailles, which Airelles operates under a concession with the French government. It is arguably the most precise expression of what the brand stands for: identifying sites of irreplaceable historic significance and restoring them into experiences that could not exist anywhere else. Across all of it, Airelles has grown without third-party management contracts, maintaining direct operational control and brand integrity at every property.In this episode, Nadine sits down with Anne-Laure Ollagnon to explore what it really takes to build and run an ultra-luxury hotel group rooted in historic properties, emotional storytelling, and a culture of generosity that institutional capital structures are rarely designed to sustain.Interview Highlights:The difference between family office capital and institutional capital in ultra-luxury, and how that impacts the guest experienceHow Airelles won the Palace of Versailles tender against more than fifteen competing hotel groupsThe six-year acquisition and authorization process for Airelles Palladio Venice, and what patience as a development discipline actually costsAirelles’ philosophy behind owning and operating distinct hotelsWhat Anne-Laure looks for when evaluating a new asset, and why emotion is the first filter before any underwriting beginsHow a high-end hotel under 50 keys justifies its ADR and operates profitably without relying on volumeAnne-Laure’s view on where ultra-luxury is headingLearn more about Airelles hereFollow Airelles on Instagram hereFollow the latest opening in Venice on Instagram: the Airelles PalladioFollow⁠ ⁠The Stanza on Instagram

April 7, 20261 hr 21 min

Early Conviction: Investing in Aman and the Future of Luxury Hospitality with Jonathan Goldstein

Part I: AI and the Future of HospitalityEvery hospitality operator is asking the same question right now: what does AI actually mean for my business? Marc Lotenberg, founder of Dorsia, has a clear thesis: the operators who will define the next era of hospitality are not the ones who chase the technology, but the ones who double down on the art, the craft, and the magic that no algorithm can replicate.In Part 1 of this episode, Marc shares why AI will finally deliver the hyper-personalized, frictionless experience that modern luxury has always promised, how it will change everything from the kitchen to the moment a guest walks out the door, and why the pace of that disruption is arriving far faster than most people in the industry expect.This episode is made possible in partnership with Dorsia. To get access to Dorsia’s curation of impossible tables and cultural events, download the app and use code THESTANZA.This interview was filmed at Cafe Carmellini in New York.Part II: Early Conviction: Investing in Aman and the Future of Luxury HospitalityJonathan Goldstein is the founder and CEO of Cain, a real estate investment and operating company managing over $14 billion in assets across luxury residential, hospitality, sports, and entertainment. Cain was formed in partnership with Todd Boehly and Eldridge Industries, built on a shared conviction that gateway cities and branded experiential real estate represented a generational investment opportunity.Cain's real estate portfolio spans some of the most scrutinized assets in luxury hospitality. At the center of it is One Beverly Hills, a $5 billion, 17.5-acre mixed-use development flagged by Aman in the heart of Beverly Hills. Jonathan also co-led the $900 million investment into Aman Group alongside Saudi PIF, subsequently partnering with Mubadala Capital to finance the brand's expansion. Other assets in the portfolio include Six Senses Courchevel, Raffles Boston, the Delano Miami, and a stake in the Delano brand in partnership with Ennismore & Accor. Cain was investing in luxury and experiential real estate long before the pandemic made the thesis obvious to the broader market.I worked on One Beverly Hills for Jonathan at Cain, which gives this conversation a level of access and specificity that is rarely present in interviews at this level of the industry.Interview Highlights:Approach to risk and creating an asymmetrical outcome in businessThe story behind the Aman investment opportunityWhat sets Aman apart from the restWhat it takes to earn the trust of sovereign wealth fundsHow Cain assembled the One Beverly Hills siteThe buyer profile of Aman Residences in Beverly HillsDeveloping other luxury projects: Six Senses Courchevel & Raffles BostonRepositioning the Delano brand & Miami hotelJonathan’s approach to choosing a hotel management partnerThe personalization problem luxury hospitality has yet to solveIf you enjoyed this episode, you’ll also enjoy reading The Stanza’s Friday weekly newsletter. Subscribe at ⁠www.thestanzamedia.com⁠Learn more about Cain’s portfolio here.Follow ⁠The Stanza on Instagram

March 11, 20261 hr 21 min

“Dreams Don’t Have a Price”: The Philosophy Behind Lake Como’s Most Iconic Hotels with Valentina De Santis

Part I: The Business of Six Figure TravelHow does one quantify the thesis that affluent consumers are prioritizing experiences over possessions? Luxury travel advisory SmartFlyer reports a 75% year over year increase in trips exceeding $500,000, alongside a 41% rise in bookings between $100,000 and $499,000.In this mini segment, SmartFlyer COO Erina Pindar shares what is fueling this growth, from multi-generational safaris in Botswana to Antarctica by private jet and yacht-hopping across the Mediterranean. She explains why modern luxury is defined by privacy, access, and highly personalized execution.At this level, it’s not just about the hotel. It’s about designing a journey that feels entirely your own.This episode is made possible by SmartFlyer. Follow @smartflyer on Instagram or visit smartflyer.com to learn more.Part II: Dreams Don’t Have a Price”: The Philosophy Behind Lake Como’s Most Iconic HotelsValentina De Santis is a third-generation hotelier and the owner of two of Lake Como’s most celebrated properties: the iconic Grand Hotel Tremezzo and the intimate 24-room villa hotel, Passalacqua — which debuted at #1 on The World’s 50 Best Hotels list in 2022.Her family has shaped Lake Como hospitality for over half a century. In the 1970s, her grandfather acquired the historic Grand Hotel Tremezzo — originally built in 1910 to serve Europe’s aristocracy — and restored it to its former grandeur. What began as a bold entrepreneurial leap became a generational legacy rooted in independence, long-term stewardship, and an uncompromising belief in beauty.Born and raised on the shores of Lake Como — quite literally in the back corridors of the Grand Hotel Tremezzo — Valentina grew up immersed in the rhythms of hospitality. Today, she serves as both custodian and visionary for her family’s portfolio, expanding it thoughtfully while preserving its soul. Alongside her parents, she led the acquisition and transformation of Passalacqua, an 18th-century villa that had been a private home for over 200 years before reopening as one of the most celebrated boutique hotels in the world.In an era dominated by global hotel groups and private equity, Valentina remains fiercely committed to family ownership, financial independence, and building for continuity — not exit. Her philosophy blends instinct with discipline, emotional intelligence with operational rigor, and above all, a deeply Italian belief in villeggiatura: the art of slow, meaningful travel.This interview was filmed at Casabianca in Lake Como, the De Santis family's art gallery showcasing their personal collection of modern and contemporary art.Interview HighlightsGrowing up inside the Grand Hotel Tremezzo and witnessing Lake Como’s evolutionThe four-week auction battle that led to acquiring PassalacquaRestoring an eighteenth-century villa under Italy’s preservation lawsWinning number one in the world and choosing to change nothingThe philosophy of villeggiatura and creating hotels that slow guests downThe subtle operational details that quietly define true luxuryDesigning for conviction instead of guest expectationsWhy financial independence is non-negotiableDefining success through continuity rather than exitIf you enjoyed this episode, you’ll also enjoy reading The Stanza’s Friday weekly newsletter. Subscribe at www.thestanzamedia.comConnect with Valentina on InstagramFollow Passalacqua and Grand Hotel Tremezzo

October 22, 202549 min

Ian Schrager

Today’s guest is Ian Schrager, the legendary hotelier, entrepreneur, and cultural pioneer who reshaped nightlife and hospitality as we know it.Ian first made his mark in the 1970s as the co-founder of Studio 54, the iconic New York nightclub that became a symbol of glamour, freedom, and cultural revolution. Alongside his partner Steve Rubell, Ian created an experience that transcended nightlife, merging design, celebrity, and theatricality into something entirely new.After Studio 54, Ian continued to reinvent hospitality. In the 1980s, he launched the Morgans Hotel Group, introducing the world’s first “boutique hotel” : a concept that blended art, design, and service in a way that changed the industry forever. At a time when hotels were seen purely as places to sleep, Ian reimagined them as vibrant social hubs, activating lobbies, bars, and restaurants as dynamic public spaces that reflected and contributed to the cultural life of a city. With properties like Morgans, the Royalton, and the Delano, he transformed the hotel from a travel necessity into a cornerstone of the modern urban landscape: a place where design, community, and experience converged.In more recent years, Ian has continued to redefine hospitality with two visionary brands. EDITION Hotels, created in partnership with Marriott International, brings his boutique sensibility to a global stage. With around 22 properties worldwide, from New York and Miami Beach to London, Barcelona, Tokyo, and Dubai, each EDITION is designed as a one-of-a-kind reflection of its city, combining understated luxury, cutting-edge design, and activated social spaces that feel both intimate and electric.By contrast, PUBLIC represents Ian’s evolution of the idea: “luxury for all.” Its flagship on New York’s Lower East Side, designed by Herzog & de Meuron, reimagines the hotel experience through high style, technology, and inclusivity, featuring self check-in, vibrant communal areas, and nightlife-driven energy at a democratic price point. With plans to expand to West Hollywood and beyond, PUBLIC distills Schrager’s decades of innovation into an accessible, modern model for the next generation of travelers.Across every chapter of his career, Ian Schrager has consistently challenged convention, blurring the lines between hospitality, art, and lifestyle, and influencing generations of hoteliers, designers, and creatives along the way.In this episode, Ian reflects on his incredible journey, from Studio 54 to the present, and shares the insights, risks, and instincts that have defined his enduring legacy.A heartfelt thank you to Peoplevine for sponsoring The Stanza podcast this year (and for supporting The Stanza since the beginning). If you run a members club or a hotel that needs a CRM for top performance, Peoplevine is trusted by the best brands in the members club business. Book a free demo to see why at ⁠peoplevine.com.⁠Interview Highlights:How Ian Schrager brought the lessons of Studio 54 into hospitalityTurning hotel lobbies into social and cultural spacesThe $60,000 deal that led to his first hotel, MorgansWhat “boutique hotel” really meant in its original formIan’s perspective on copycatsHow creativity and independence can survive inside big hotel brandsRedefining luxury as an experience, not a price pointIan’s advice for young hoteliersFollow Ian on⁠ Instagram⁠Follow Public Hotels and Edition HotelsFollow The Stanza on ⁠⁠Instagram⁠⁠

September 17, 202547 min

Dr. Jonathan Leary

Dr. Jonathan Leary is the founder of Remedy Place, the social wellness club reimagining how we gather, recover, and connect. Trained in medicine and drawn to a more human, preventative approach, Jonathan spent years building a concierge sports-medicine practice while refining a 150-page business plan for a new kind of health club - one that could make self-care social and compelling. He opened the first Remedy Place in Los Angeles and has since expanded to New York and Boston, with a growing movement around contrast therapy, IV lounges, and community-driven rituals that help people feel better together.In this conversation, Jonathan shares his founder story: from the pivot that gave him five years of real-world data, to why he personally guaranteed his first lease. We unpack the idea of “social self-care” and why drink dates blunt connection, the business model behind Remedy Place, and what he’s learned scaling from two to four clubs in just months.Thank you to Peoplevine for sponsoring the 2025 season of The Stanza. Peoplevine is the trusted CRM software for the best brands in hospitality. Book a free demo to see why at peoplevine.com.Interview Highlights:Being early to a global trendHow rejection led to building a data-backed businessDefining “social wellness”Health as a tool for success in other aspects of your lifeWhy Remedy Place didn’t include a gymJonathan’s views on copycatsThe role of brand design, accessibility, and perceived exclusivityConvincing skeptical investorsPersonally guaranteeing his first lease and Jonathan’s attitude towards riskWhat stabilization looks like for new wellness clubsBeing comfortable being misunderstoodJonathan’s advice for wellness entrepreneursFollow Jonathan on⁠ Instagram⁠Follow Remedy Place on Instagram and learn more hereFollow The Stanza on ⁠Instagram⁠Subscribe to The Stanza on ⁠Substack

August 20, 202550 min

Eugene Remm

Today's guest is Eugene Remm, who co-founded Catch Hospitality Group in 2011. Eugene has opened Catch locations in 7 different markets throughout the U.S. and most recently, The Corner Store in New York, which has been a big success. Eugene started his hospitality career in the New York nightlife business in the 2000's, launching hit concepts such as Tenjune and SL, before pivoting to large format restaurants post 2008. Following this defining moment in his career, Eugene doubled down on the Catch concept and took a bold step forward by launching the LA location. In 2017, upon the success of Catch LA, Tilman Fertitta became a partner in Catch Hospitality Group. In this interview, we chatted about Eugene's background as a Russian immigrant and his attitude towards entrepreneurship, and building longevity in hospitality through the humility to learn from mistakes and relentlessly evolving the guest experience.Thank you Peoplevine for making this podcast possible. Peoplevine is trusted by the best brands in the members club business. Book a free demo to see why at ⁠⁠⁠⁠⁠⁠peoplevine.com.⁠ ⁠⁠Interview Highlights:The American Dream and entrepreneurshipOpening hit nightclubs in NYC in the 2000'sPivoting to large format restaurants post 2008How Eugene convinced Tilman Fertitta to join Catch as a partnerLongevity in hospitalityEconomics of a small format NYC restaurantFollow Eugene on InstagramLearn more about Catch Hospitality GroupFollow The Stanza on ⁠Instagram⁠Subscribe to The Stanza on ⁠Substack

July 16, 202548 min

Jeff Klein

Jeff Klein started his hospitality career in 1993 as a bellman at The Franklin Hotel, where he learned the ropes of running a hotel in various operational roles. His first hotel project was the successful repositioning of a midtown office building into The City Club hotel. After The City Club, Jeff raised capital to acquire the dilapidated Argyle Hotel on Sunset Boulevard, and repositioned it to The Sunset Tower Hotel, an iconic LA destination. The Tower Bar at that hotel was his first restaurant, and remains an elegant destination for celebrities, Hollywood elite, and cultural tastemakers. In 2013, Jeff acquired the San Vicente Inn, which was a run-down seedy motel in the heart of West Hollywood, and transformed it into the San Vicente Bungalows, an exclusive private members club known for attracting high profile industry executives. Most recently, due to the demand for the privacy and discretion that the club distinctly offers, Jeff has expanded San Vicente Bungalows to Santa Monica on Ocean Boulevard and at the Jane Hotel in New York's West Village. Jeff is one of the rare hospitality entrepreneurs that has an intuitive understanding of how to buy good real estate and how to curate a timeless experience that fosters longevity and loyalty. In this interview, Jeff shares the stories behind the deals that made his career, and the valuable lessons learned along the way. Thank you Peoplevine for making this podcast possible. Peoplevine is trusted by the best brands in the members club business. Book a free demo to see why at ⁠⁠⁠⁠⁠peoplevine.com.⁠ ⁠Interview Highlights:How Jeff got his start in hospitalityCreating the Sunset Tower HotelJeff's various investors in Sunset TowerWhat makes a great capital partner?Opening the Monkey Bar with Graydon CarterThe subconscious elements have big impactThe acquisition story behind San Vicente BungalowsFundraising challenges with SVBBuilding properties loved by HollywoodHospitality is the business of emotionsLessons about human nature Advice for emerging hoteliersLearn more about JK Hotel Group here.Follow The Stanza on InstagramSubscribe to The Stanza on Substack

June 18, 202523 min

Dasha Zhukova

Dasha Zhukova Niarchos is the founder of Ray, a residential lifestyle brand and real estate development company that builds art-forward residences. Ray's inaugural building in Philly's Fishtown neighborhood comprises 110 residential units and several amenities geared towards creatives and art & design lovers, such as artist studios, co-working space, a gym, a community kitchen, a green roof deck, a lobby living room and an independent art bookstore. One of the best perks of living at Ray is the cultural programming for residents, which includes art classes, gallery openings, and other social activities. The launch of the Philly building was a success, completing lease up in 8 months and proving the thesis that renters want to live in beautifully designed spaces that enhance their everyday experience. Ray's next building in Harlem is designed by Frida Escobedo and includes a new home for the National Black Theatre. The building comprises 222 mixed-income units, a similar suite of amenities, and stunning views of New York from its rooftop terrace.Prior to founding Ray, Dasha founded the Garage Museum of Contemporary Art in Moscow in 2008. The Museum was designed by Rem Koolhaas and is Russia's first and only contemporary art archive. In 2011, she founded Garage Magazine, which she sold and bought back from Vice Magazine. Dasha is also a co-founder of Artsy, a digital art marketplace and discovery platform. She also serves on the board of several organizations and companies, such as the LA County Museum of Art, Soho House, The Met, and more.In this interview, we dove into the business of combining art, design, and real estate development into a cohesive lifestyle brand. I'm excited about Ray because I believe that branded real estate will be a big consumer trend, and I also like the way that Dasha is executing her vision with thoughtfulness and attention to detail.Thank you Peoplevine for sponsoring this episode. Peoplevine is trusted by the best brands in the members club business. Book a free demo to see why at ⁠⁠⁠⁠peoplevine.com.⁠ Thank you to the team at NeueHouse for supporting The Stanza. NeueHouse is the premier work space in NYC and LA for those in the creative industries. Use code ⁠⁠THESTANZA⁠ ⁠for a special offer when applying for your membership.Interview Highlights:How can good design foster community and address the loneliness epidemic?Ray’s approach to structuring partnerships with real estate developersPlacemaking in emerging neighborhoodsParameters for choosing the right architectInsights from Dasha’s experience in the art world that she brings to RayThe impact of art on mental healthThoughts on the future of the built environment in urban citiesConnect with Dasha ⁠here⁠.Follow Ray here.Follow The Stanza ⁠here⁠.Subscribe to the newsletter ⁠here⁠.

May 22, 202530 min

Noah Tepperberg

Today's guest is hospitality veteran Noah Tepperberg, co-founder of Tao Group Hospitality. Over the course of his 30+ year career in hospitality, Noah and his team have launched several iconic venues, under brands including Marquee, Lavo, Tao, Hakkasan, and many others. Tao Group currently has over 80 branded outlets globally in the broader portfolio. In 2017, Noah and his co-founder’s including his long time business partner and Co-CEO Jason Strauss sold a majority stake in Tao Group to the Madison Square Garden Company, and in 2021 the company acquired 100% of Hakkasan Group creating one of the world's largest premium hospitality platforms with outlets in over 20 cities. In 2023, the company was acquired by Mohari Hospitality. This conversation highlights Noah's laser focused and disciplined approach to building a highly successful hospitality business that stands the test of time.Thank you Peoplevine for sponsoring this episode. Peoplevine is trusted by the best brands in the members club business. Book a free demo to see why at ⁠⁠⁠peoplevine.com.⁠ Interview Highlights:The key component to a successful venuePartnering with institutional groupsHospitality is a people businessNoah's approach to real estatePatterns of venues that have done well vs those that haven'tExpanding abroadAdvice for hospitality entrepreneurs ⁠This episode was recorded at NeueHouse Madison Square. NeueHouse is the premier work space in NYC and LA for those in the creative industries. Use code ⁠THESTANZA⁠ for a special offer when applying for your membership.Connect with Noah here.Follow The Stanza here.Subscribe to the newsletter here.