11/15/2021 | by
Headshots of panelists

Tamara Fischer
President and CEO
National Storage Affiliates

"As an industry, I believe we benefited across the board from increased demand for self-storage driven by remote work and remote learning dynamics. As a company with a focus on secondary and tertiary markets, NSA clearly benefited from the in-migration from the top MSAs to markets where we have geographic concentration. Operationally, the pandemic allowed us to accelerate the rollout of a handful of enhancements and provided an opportunity to realize additional efficiencies and cost savings. The ability to pivot quickly from an in-person work environment to a remote work environment, essentially without missing a beat, gives us even greater confidence in the quality of our team and support systems. The resulting flexible work schedules will provide lasting benefits in terms of reduced travel and enhanced employee satisfaction."

Jonathan Stanner
President and CEO
Summit Hotel Properties, Inc.

"While the pandemic has created historic societal disruption, and its enduring effects have been particularly acute for lodging REITs, it has also presented myriad opportunities for adaptation and future growth. COVID-related restrictions have forced hotel owners to re-examine existing business models and to work proactively and collaboratively with our brand and management company partners to restructure our operating model. Revised operating procedures and brand standards have been implemented to ensure a safer and improved guest experience, promote a healthier environment and facilitate a more profitable operating model for hotel owners. In addition, our dedicated employee base has proven we can manage our business through a historically challenging period in a predominately remote work environment. We are formalizing a hybrid work model for our corporate employees designed to promote the health and well-being of our team. Our goal is to continue to foster a culture of connectedness, while promoting a level of flexibility that encourages an appropriate work-life balance."

Julian (Jay) Whitehurst
President and CEO
National Retail Properties, Inc.

"With respect to many REIT employees, one silver lining is enhanced flexibility in work location and work hours. Our office fully reopened in July 2021, and we believe there is great value in having us all together again, but we did institute a new flexible work policy that has been well received by our associates. With regard to REITs generally, a silver lining was the recognition of just how durable the rental income stream is for many of us. In the case of National Retail Properties, throughout the pandemic our occupancy remained high and our rent collections quickly returned to pre-pandemic levels. Hopefully, investors will recognize and value the consistency and durability of the cash flows from REITs like National Retail Properties when the next "stress test" arrives."

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