Nareit's REIT Report Podcast

Baird’s Michael Bellisario Says Lodging REIT Outlook Cautiously Optimistic

Michael Bellisario, senior research analyst at Baird, joined the REIT Report to review the outlook for the lodging and hotel REIT sector in 2026, focusing on demand trends, the impact of major events like the World Cup, and strategies for maintaining occupancy and navigating market challenges.Bellisario said the overall outlook for the sector for 2026 is “positive but muted,” following a tough 2025. The World Cup is expected to boost revenue this year, with Baird estimating it will contribute 75 basis points or more to REVpar for the year. “It’s going to be a tailwind. It's just a matter of how much and when do we see those bookings start to pick up,” he said.Meanwhile, Bellisario pointed out that wealthy travelers are currently driving growth within the leisure sector, with high-end hotels performing better than economy and mid-scale segments. Higher-end establishments can charge more for additional services, he noted, such as dining and experiences, beyond room rates. This trend indicates a potential strategy for hotels to focus on non-room revenue streams.

CenterSquare’s Todd Briddell Highlights Alpha Opportunity, Innovation in REIT Market

CenterSquare Investment Management CEO Todd Briddell joined the REIT Report podcast to discuss the evolution of the firm’s REIT strategy during the past 30 years, the impact of market volatility and adjustments, AI and data assimilation in real estate, public versus private real estate market dynamics, sector-specific IPO opportunities, and more.“Over the past 30 years, our team has done an absolutely spectacular job underwriting companies, assessing market conditions, knowing what we don't know in periods of high volatility and uncertainty, positioning the portfolio defensively at the right time periods, (and) not getting over our skis,” Briddell said.Briddell highlighted some of the benefits of public real estate, noting that volatility should be “embraced, not feared” in the REIT market. “What we have done at CenterSquare is really try to educate our investors that volatility is actually a source of alpha. And it is as true today as it has ever been,” he added.

Hazelview Investments' Sam Sahn Sees Uptick in Investor Appetite for REITs

Sam Sahn, managing partner and portfolio manager at Hazelview Investments, joined the REIT Report podcast to discuss the opportunity set within public real estate. He pointed to an uptick in investor interest in REITs after a number of years of negative sentiment, and noted that fundamentals are strong across most property types.“We are seeing today more inbound phone calls from potential investors that are interested in increasing exposure to REITs and real estate in general…they've been out of the sector for the past five to six years, or they've been underweight, and they're looking to increase that allocation,” Sahn said. “They're looking for asset classes that give them cash flow stability. They're looking for income. They're looking for diversification, liquidity, all of which REITs provide,” he added.As for performance, Sahn noted that U.S. REITs are “starting to regain their footing” in 2026, while Japan and Hong Kong continue to show strength in global markets. “As we look at the world today and over the next 12 months, we're seeing more opportunities in the U.S. than we have over the last several years,” he added.

Gensler’s Diane Hoskins on Creating Value by Investing in Experience-Driven Assets

Diane Hoskins, global co-chair at international architecture and design firm Gensler, joined the REIT Report podcast to review themes from Gensler’s 2026 design forecast. The impact of AI on design processes, the importance of human experience in architecture, and the evolving needs of workplace design in a post-pandemic world were among topics covered.Hoskins also looked at adaptive reuse as a strategy for urban vibrancy and the critical need for climate resilience in future designs. She emphasized the importance of investing in human experiences.“It's about creating value, being ahead of some of these curves,” Hoskins said, while also focusing on investing in humans and in places “where experiences matter, because that's really where value is going to be.”

Green Street’s Michael Knott Says REITs Faring Well in 2026 Amid Market Cross Currents

Michael Knott, head of U.S. REIT research at Green Street, told the REIT Report podcast that REITs have enjoyed a number of tailwinds so far this year, including an AI-driven selloff across broader markets, lower interest rates, and strong access to debt capital. He described it as “a little bit of a nice comeback for the industry on a relative basis.”At the same time, Knott notes that these positive tailwinds are set against a cross current of a weaker outlook on the employment side.During the interview, Knott also commented that one of the newer trends that many larger REITs are gravitating to is fund management and gathering private pools of capital as an alternative to public equity to fund their business.