In this mini episode of Host as Guest, host Leo Walton welcomes Nicole Pace to discuss the evolving landscape of property acquisition, hospitality, and midterm rentals. Nicole shares insights on how Sojourn has grown its inventory organically through reputation and strong relationships with realtors and boutique developers in its two main markets. She highlights the importance of efficiently managing small multifamily properties and the significance of working with owners who are willing to maintain and improve their properties to meet today’s high guest expectations.
Nicole explains how Sojourn evaluates potential deals, prioritizing property quality and owner commitment over size. She also reflects on past listings, detailing how some legacy properties continue to perform well, while others no longer align with Sojourn’s evolving standards. She emphasizes the need to adapt to guest expectations, which have shifted toward higher-end accommodations and thoughtful details beyond standard furnishings.
Leo and Nicole dive into the importance of guest experience and the trends shaping the market. Nicole discusses how Sojourn focuses on sensory experiences, from carefully selected linens to robust cleaning programs, to ensure guests enjoy a comfortable stay. She underscores the significance of anticipating guest needs in advance, drawing from her hospitality background to create seamless, high-quality experiences. This philosophy extends to ensuring properties are well-stocked with premium amenities and eliminating common pain points before guests even arrive.
The conversation also covers how Sojourn balances luxury service in a non-hotel environment. Nicole describes leveraging technology to support human-led hospitality rather than replacing it, allowing for personalized service in diverse property types. By integrating automation for inspections and pre-arrival preparations, Sojourn ensures that both its large homes and smaller studios maintain high standards.
Midterm rentals play a crucial role in Sojourn’s strategy, particularly in regulated markets like Washington DC and Tidewater. Nicole explains how the company was well-positioned for changes in short-term rental regulations by already catering to longer stays. She highlights the demand for flexible housing solutions in transient markets and the company’s ability to accommodate a wide range of guest needs, from political staffers to construction workers requiring adaptable lease terms.
Leo and Nicole round out the conversation with reflections on hospitality values, the impact of their early service industry experiences, and the importance of creating a brand known for exceptional service. This episode offers valuable insights into running a hospitality-driven business while adapting to changing industry standards and guest expectations.
Follow us on Social Media
