Taylor Kessel, SVP, general counsel, and secretary at Xenia Hotels & Resorts (NYSE: XHR), participated in a video interview during REITwise 2022: Nareit’s Law, Accounting & Finance Conference held in Orlando, Florida on March 23-25.
Kessel said REIT general counsels were in a unique position when the pandemic began in terms of caring for their employees, customers, properties, and stakeholders across the board.
“There was quite a bit [of pressure on GCs] early on, and then over time it was really more adapting to change,” he said.
Kessel also said REIT GCs should play “a very large role” in attempting to drive ESG initiatives at their companies. While they have traditionally been involved in governance, there is also a natural fit for GCs regarding social issues like human capital management and human resources, as well as community involvement and understanding your stakeholders’ needs, he said.
“[Environmental issues] are relatively new to the general counsel, so it’s required a lot of quick self-education and learning, which is something lawyers are typically used to,” he added.