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Hotels are not underperforming because demand is weak, they are underperforming because the economics of the guest relationship are still being managed manually. That is the central takeaway from my recent Demo Day conversation with Luca Zambello, Founder, and Jason Lopez, VP of Revenue at Jurny. [Full disclosure: I am an early investor in Jurny] In brief: Hotels are leaving meaningful NOI on the table by treating guest experience as a cost center rather than an operating system. What stands out • Personalization at scale is an operational advantage that directly impacts NOI. • Ancillary revenues sold post-booking carry near-zero marginal cost and disproportionately expand NOI. • AI changes the labor equation by shifting staff from admin and triage to actual hospitality. • Centralized communications using AI work when guest intent, sentiment, and history live in one place. • Jurny helps hotels systematically monetize guests beyond the room night. When guest communication is fragmented across OTAs, email, SMS, WhatsApp, phone calls, and front desks, operators lose both service quality and revenue opportunity. Once communication is centralized, automation and AI start becoming leverage. The most compelling insight is financial. As Luca puts it, a 10 percent lift in guest-driven revenue does not translate into a 10 percent NOI improvement. Because fixed costs are already covered, it can mean 30 to 40 percent relative to current NOI. Why this matters beyond hospitality What this demo really highlights is how AI is beginning to fundamentally change commercial real estate operations across asset classes. CRE is moving away from linear models where growth requires more people, more friction, and more overhead and platforms like Jurny point to a future where intelligence, not headcount, becomes the primary scaling mechanism. That shift is already underway - and it is happening faster than most operators think. Tune in to learn more – you don’t need to a hotelier to appreciate the power of AI on CRE. *** In this series, host Adam Gower Ph.D., cuts through the noise to examine how shifting macroeconomic forces and rising geopolitical risk are reshaping real estate investing. With insights from economists, academics, and seasoned professionals, this show helps investors respond to market uncertainty with clarity, discipline, and a focus on downside protection. Subscribe to the accompanying newsletter for timely updates, insights, and tools to help you navigate today’s volatile real estate landscape. You’ll get: Straight talk on what happens when confidence meets correction - no hype, no spin, no fluff. Real implications of macro trends for investors and sponsors with actionable guidance. Insights from real estate professionals who’ve been through it all before. Visit GowerCrowd.com/subscribe Email: adam@gowercrowd.com Call: 213-761-1000