Nicholas Falcone, CEO, NDM Hospitality

May 2026 — In an interview with Invest:, Nicholas Falcone, CEO of NDM Hospitality, shared how higher interest rates are impacting the real estate landscape, shifts in travel demand, and their approach to more renovation-focused projects. “That has been a major pivot for our business,” said Falcone.

What changes over the past year have most impacted your company, and how have those changes influenced your strategy?

I would say there are a few changes that have impacted the business, but if I had to choose one, the biggest change was in the travel industry specifically. We are in a lot of different businesses — travel, real estate, leasing — but in travel, especially with the government shutdown and broader economic conditions, we saw a lot of shifts in travel demand, particularly in the first quarter of this year. We moved away from fly-in markets toward more of a drive-market approach from a marketing perspective.

On the real estate side, the biggest trend has been the impact of high interest rates. Even though construction costs have come down a bit, new-build properties have become more difficult to underwrite. As a result, we are focusing more on renovation properties — projects that do not require long lead times on permits, entitlements, and construction. With renovations of older product, we can come in at 40–50% less on a per-key or per-door basis compared to new builds. That has been a major pivot for our business.

What key trends are you seeing in how travelers choose between hotels, vacation rentals, and hybrid models?

Traditionally, the biggest driver for residential-style accommodations was the ability to house more people under one roof. That is still true, but we are seeing a broader shift. People are less focused on specific dates or locations and more focused on the experiences they want to have.

Both in traditional hotels and residential hospitality, you can no longer just provide a great room product — you need to deliver experiences. Travelers today lead with experiences like golfing, culinary offerings, or outdoor adventures, and then choose destinations and timing accordingly.

We have leaned into this trend. For example, we partnered with EDC and became the host hotel for the festival in Orlando. We are creating a fully immersive experience where guests can attend the festival and continue that experience at our property with after-parties and activations. It is about bringing properties to life.

Do you have similar plans tied to major events like the World Cup?

The World Cup is one of the biggest global events, and we are very focused on it. We are customizing experiences based on where guests are coming from. Rather than offering a one-size-fits-all experience, we are tailoring culinary offerings, events, and watch parties based on different countries and cultures.

We want to bring a bit of home to Florida for international visitors so they can enjoy the games in a familiar and culturally relevant environment.

How is technology shaping your operations, pricing, and guest experience?

Technology is evolving rapidly, and AI is playing a big role. We are implementing AI voice solutions where guests can call and interact with what feels like a human to book reservations or request services like room service or transportation.

We are also using similar AI tools on the real estate side to help qualify buyers before they speak with a sales agent. Additionally, we are heavily focused on data utilization. We have a centralized data lake that consolidates over 50 systems, allowing us to make faster and more informed decisions.

We do not view technology as a way to replace people but as a way to enhance efficiency and productivity. It is helping us reduce timelines and scale more effectively.

What trends are you seeing in workforce availability and talent?

We have not experienced significant labor shortages, even during COVID, but we have seen a cultural shift. There is less loyalty and less willingness to engage in healthy debate. That has become a bigger challenge than hiring itself.

We prioritize cultural fit over skill set. We want people who can collaborate, respect differing opinions, and contribute to a positive work environment. That is essential for building a strong organization.

How do mixed-use and entertainment-driven developments contribute to economic growth?

They contribute in many ways. Directly, they generate revenue across multiple asset classes — hotels, residential, retail, and more. Indirectly, they drive demand for transportation, flights, and related services.

We are also seeing collaboration with local governments, where portions of tax revenues are reinvested into enhancing these developments. Florida, in particular, has a very pro-business environment, which supports growth and encourages large-scale projects.

What are your top priorities for growth over the next three to five years, and how do you see the hospitality model evolving?

We expect continued growth in residential hospitality, particularly purpose-built rental resorts. Consumers are demanding experience-driven stays, and traditional models alone are no longer sufficient.

We also anticipate more institutional capital entering the space as these products become more standardized. Additionally, traditional hotels will increasingly incorporate residential components to improve project economics, reduce equity requirements, and accelerate returns.

Is there anything else you would like to add?

One key trend to emphasize is the continued shift toward renovation over new construction due to cost and timing challenges.

Another important area is our positioning as a fully vertically integrated company — we develop, operate, and often brand our properties. We also collaborate with major brands like Marriott, Hilton, and Margaritaville to expand into residential hospitality.

Lastly, we are very bullish on the campground sector. These developments — combining RV spaces, tiny homes, and traditional camping — are hitting attractive price points for both ownership and rental. They also align well with the growing demand for drive-to travel and more affordable, experience-driven lodging options.