PERSONALITIES
Façade and interior corridor of the Bode Nashville
properties with a lean staffing model . We certainly lost money a few months last year , but were able to realize profit in several months . We were also able to work with our lenders for temporary loan modifications and received much benefit from PPP . The year definitely slowed our growth ( we only closed one asset ), but we were able to strengthen our team and invest in our technology , brand and other verticals to strengthen our platform during very challenging times .
H : Tell us about the state of your development pipeline ? PB : All of our projects ‘ survived ’ COVID in that we owned or our partners owned our assets under favorable capital structures . That said , three ground-up projects have been delayed due to construction lending markets . We currently have four projects under construction and they will be opening starting in August 2021 through January 2023 .
H : How are the Bode and Drift proof of concept holding up and working through COVID ? PB : One of the silver linings about COVID is that both Bode and Drift target market ( social groups ), technology and operating models were greatly validated during COVID . Direct bookings increased year over year . Our properties outperformed our comp sets significantly and we were able to provide a very COVID-friendly hotel model ( contactless check in , in-unit and on property space built for social groups , etc .).
Social lobby space at the Bode Nashville
72 hotelsmag . com July / August 2021