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At last week's NYU IHIF, I talked with David Duncan, President and CEO of First Hospitality, about where hotel investment still works when new construction rarely pencils.

That's the part of the market I keep hearing more about: not shiny new projects, but existing hotels where the right capital, brand strategy, operating discipline, or management change can unlock something better.

David has a useful view on that because First Hospitality now plays on both sides of the equation: investment and operations.

In this conversation, we got into why more opportunities may come from assets that need work, why development still feels difficult, and how First Hospitality thinks about growth when every deal has to earn its way forward.

We also talked about new markets, talent, culture, and why entering a city as an operator takes a lot more than running the numbers from a spreadsheet.

Thanks to Actabl. Actabl gives you the power to profit. Visit actabl.com.

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