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s we enter Q4, many are seeking growth, new experiences, and greener pastures in the U.S. hotel real estate job market. The current hiring landscape mirrors the stagnant hotel real estate market – fewer transactions mean less demand for professionals to source, underwrite, and manage deals. Companies have been cautious about hiring too early due to plateauing profitability and a lack of urgency until the next cycle begins, likely within the next 6-12 months.

    However, as hiring is poised to pick up, companies often fall into a common trap: treating prospective employees like potential hotel acquisitions. They wait for the perfect candidate rather than making the best hire possible under the circumstances. This approach can be costly and overlooks the broader implications of an extended hiring process.

    In my experience, I've seen clients express sentiments such as "I like him/her but not at that price" or "we need someone who can hit the ground running." These expectations often stem from a desire for a perfect hire – someone who performs the same function for a competitor and is underpaid. However, this ideal candidate rarely materializes.

    A lesson I learned in my previous role within the NYC restaurant scene still resonates today: opportunity costs are real. The time, effort, and resources invested in one option can be better utilized elsewhere. In the context of hiring, an extended search can strain existing team members, give the impression of instability, and deter top talent.

    In my current Executive Search career, I've come to realize that the pursuit of a perfect hire can become the enemy of a very good hire. Companies must consider the broader implications and costs associated with a disjointed hiring process, including the potential negative impact on their brand and reputation. The recruitment and interview process can serve as a form of marketing and brand building – something real estate transactions are not bothered by, but people are.