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  <copyright>© 2026 TBD Podcast</copyright>
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  <itunes:author>TBD Companies</itunes:author>
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  <description><![CDATA[<p>TBD Podcast is created by TBD Companies (tbdcompanies.com), which is a hotel investment platform for accredited investors. We acquire and asset manage premium select-service, compact full service, and select lifestyle &amp; luxury hotels in primary suburban and secondary urban cities.</p>]]></description>
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    <itunes:title>Ten Minutes with Tom Deighton</itunes:title>
    <title>Ten Minutes with Tom Deighton</title>
    <itunes:summary><![CDATA[A short, off-cycle conversation. Zach asks Tom how he ended up in hotel investing, where he actually likes to travel, and what advice he'd give his younger self.  Tom is Co-Founder and CEO of TBD Companies, a hotel and hospitality investment platform. He spent ten years at Related Companies, most recently leading the Equinox Hotel at 35 Hudson Yards from financing through its 2025 sale.  More at tbdcompanies.com ]]></itunes:summary>
    <description><![CDATA[<p>A short, off-cycle conversation. Zach asks Tom how he ended up in hotel investing, where he actually likes to travel, and what advice he&apos;d give his younger self. </p><p>Tom is Co-Founder and CEO of TBD Companies, a hotel and hospitality investment platform. He spent ten years at Related Companies, most recently leading the Equinox Hotel at 35 Hudson Yards from financing through its 2025 sale. </p><p>More at tbdcompanies.com</p>]]></description>
    <content:encoded><![CDATA[<p>A short, off-cycle conversation. Zach asks Tom how he ended up in hotel investing, where he actually likes to travel, and what advice he&apos;d give his younger self. </p><p>Tom is Co-Founder and CEO of TBD Companies, a hotel and hospitality investment platform. He spent ten years at Related Companies, most recently leading the Equinox Hotel at 35 Hudson Yards from financing through its 2025 sale. </p><p>More at tbdcompanies.com</p>]]></content:encoded>
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    <itunes:author>TBD Companies</itunes:author>
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    <pubDate>Wed, 09 Sep 2026 20:00:00 -0400</pubDate>
    <itunes:duration>583</itunes:duration>
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    <itunes:title>Hotel Tech is Broken</itunes:title>
    <title>Hotel Tech is Broken</title>
    <itunes:summary><![CDATA[Learn more at tbdcompanies.com | Listen on Spotify, Apple Podcasts, and Amazon Music.  A candid conversation about technology in hotels — where it stands today, why it's lagging, and how investors and operators should be thinking about it differently. ]]></itunes:summary>
    <description><![CDATA[<p>Learn more at tbdcompanies.com | Listen on Spotify, Apple Podcasts, and Amazon Music.<br/><br/>A candid conversation about technology in hotels — where it stands today, why it&apos;s lagging, and how investors and operators should be thinking about it differently.</p>]]></description>
    <content:encoded><![CDATA[<p>Learn more at tbdcompanies.com | Listen on Spotify, Apple Podcasts, and Amazon Music.<br/><br/>A candid conversation about technology in hotels — where it stands today, why it&apos;s lagging, and how investors and operators should be thinking about it differently.</p>]]></content:encoded>
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    <itunes:author>TBD Companies</itunes:author>
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    <pubDate>Wed, 12 Aug 2026 17:00:00 -0400</pubDate>
    <itunes:duration>2485</itunes:duration>
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    <itunes:title>Why We Left Related and JLL to Buy Hotels</itunes:title>
    <title>Why We Left Related and JLL to Buy Hotels</title>
    <itunes:summary><![CDATA[Learn more at tbdcompanies.com | Listen on Spotify, Apple Podcasts, and Amazon Music. Introducing TBD Companies and why we like hotels. We talk about the different components of hotels, what makes them interesting, and compare hotels to other asset classes. ]]></itunes:summary>
    <description><![CDATA[<p>Learn more at tbdcompanies.com | Listen on Spotify, Apple Podcasts, and Amazon Music.</p><p>Introducing TBD Companies and why we like hotels. We talk about the different components of hotels, what makes them interesting, and compare hotels to other asset classes.</p>]]></description>
    <content:encoded><![CDATA[<p>Learn more at tbdcompanies.com | Listen on Spotify, Apple Podcasts, and Amazon Music.</p><p>Introducing TBD Companies and why we like hotels. We talk about the different components of hotels, what makes them interesting, and compare hotels to other asset classes.</p>]]></content:encoded>
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    <itunes:author>Tom</itunes:author>
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    <pubDate>Tue, 28 Jul 2026 15:00:00 -0400</pubDate>
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  <psc:chapter start="0:06" title="Introductions" />
  <psc:chapter start="6:16" title="Hotel Categories Explained" />
  <psc:chapter start="11:25" title="The Three-Party Dynamic: Owner, Brand &amp; Operator" />
  <psc:chapter start="20:52" title="Why Now? The Case for Hotels Today" />
  <psc:chapter start="32:52" title="Asset-Level Levers: Brand Conversion" />
  <psc:chapter start="36:05" title="Hard Brands vs. Soft Brands" />
  <psc:chapter start="40:29" title="Independent Hotels: When Do They Work?" />
  <psc:chapter start="44:32" title="The Operator Relationship" />
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