Investing in alternative’s
, Luxury Hotels
, real estate
RealStar's a privately owned real estate company, vertically integrated, we own multi-family assets, hospitality assets, student accommodation assets, ostensibly what we call "buildings with beds".
We've been involved in this space for a long time. We own primary healthcare centres, student accommodation buildings, in the UK the PRS market which is er, multi-family for anyone from the US, and hotels, so, I think all of these asset classes, as interest rates are low and people are looking for income and yield, are an attractive place that new capital is all of a sudden starting to look at.
Different business models have different requirements, so if you're at the luxury end of the market, clearly people are looking for service and that service usually comes with more people to attend to you. Equally if you look at millennial’s and the newer brands that are emerging, I think a lot of people with their phones are self-serving and actually prefer that. And so, there, um, those are interesting from an owner’s point of view, because they're much more capital efficient and effective, but actually from the consumers point of view, in many respects, preferable in some parts of the market.