15 Minutes with Bob Olson
Author:Lindsey ShookFor over 40 years, Bob Olson has led R.D. Olson with a hands-on approach and vision that has shaped some of the company’s most high-profile projects, including the Lido House in Newport Beach. Under his leadership, the firm has cultivated a culture of innovation that keeps it at the forefront of the commercial construction industry. With multifamily and hospitality development on the rise, we wanted to gain insight into his thoughts on the future.
What has been the greatest change in commercial development you have seen in the past 10 years? Hotel development continues to evolve. As consumer demands change in the hospitality industry, developers must stay ahead and anticipate future needs and requirements. This includes what you build but also the services you provide. Oftentimes, services provided by a hotel may no longer be wanted by the guest. For instance, having your valet team hand off to a room attendant is an awkward transition for a hotel guest, so we eliminated that offering and simply have our valets see our guests to their room.
R.D. Olson Development is known for its strong execution across all phases of development. What’s your secret to maintaining consistency across such complex projects? It is important to have great leaders within our company who are focused on various disciplines such as finance, architectural planning and entitlements, as well as design and asset management. We are fortunate to have great people in each of these disciplines who have been with us for 10-plus years.
What trends do you see shaping the future of commercial real estate and hospitality development? I think the future for hospitality will be more driven by the experience you bring to the guest, both in and around the area, but will be as important within the property. An example would be a spirituality-focused spa. The goal is to create another passion-driven reason to come to the property. I would put our new Sedona Resort development in this category, where we are creating health and wellness programming not just inside but around the entire property.
What are the key factors you consider when identifying opportunities in new markets and which regions are you most interested in right now? Sedona is known globally as a spiritual mecca with amazing red rock formations throughout the region. It is such an amazing experiential market for hotel guests that we wanted to capitalize on our full-service knowledge and create a leisure travel destination.
What advice would you give to aspiring entrepreneurs looking to lead with both vision and precision? Be prepared to study every detail of what the customers are looking for in hospitality. Understand it from a guest perspective first, and then focus on how to execute. Be prepared to work your *** off ! And just remember that customers’ preferences change and you need to always stay ahead of them.
Aside from your own, which California hotel is your favorite? I really like the Rosewood Miramar Beach in Montecito. I think it’s probably one of the best hotels in our state. They have really given the guest a sense of place by incorporating their oceanfront location within the architecture and the services they provide.
Where do you dream of developing a new hotel? In my travels throughout Europe, I have dreamt of doing something on the Mediterranean Sea. I’ve learned so much from the Europeans about hotel development and services. The history and architecture really give a true sense of place, making for worthwhile experiential travel.
