Hi everyone, I'm Maggie McGrath, senior editor at Forbes.

Fewer Americans plan to travel for their vacation this year, but joining us now is the

CEO of a company that could provide an alternative solution.

He is Michael Wolf. He is the CEO of Resort Pass, a company that gives people access to resort amenities for a fee without needing to stay overnight.

Michael, thanks so much for joining us.

Thanks for having me.

So I just kind of gave the elevator pitch for Resort Pass, but how would you describe what you do?

Yeah, so Resort Pass enables day access to the hospitality industry.

So you're not staying overnight at a hotel, but you can use the amenities, things like pools, cabanas, spa, fitness, wellness, even the rooms just for the day.

And the underlying premise is that there's a lot of excess capacity within the hotel layer.

So hotels are so smart when it comes to revenue management, yield management of the room product, but they've never applied those same lessons to the rest of the hotel, and that's where we come in. How much does it cost? Like if I want to go to the one hotel that's just south of Central Park, what would that cost me? Yeah, so there's a real range of prices. We work with over 2,200 hotels, and we work with all of the leading hotel brands. So we work with really accessible hotels that could start at $25, and we work with some of the more luxury hotels that could be 200 plus per day. And how much does this add to the hotel's revenue? How accretive is it? It's incredibly creative. And the reason being is that hotels have really

gotten to the point where they've maximized room prices. So for anyone who's traveled recently, room rates are kind of at the all-time highs. But hotels don't really have a way of now increasing their revenue beyond that because they've gotten to the point where they don't really even think that they can push room rates that much higher. So hotels are now saying, hey, how do we monetize other spaces in the hotel.

And I think they look at the airline industry

with a lot of jealousy. So airlines have monetized every square inch of the airplane. Of course, if you know, if you've flown, you know, whether that's the luggage, whether that's the food and beverage, internet. And essentially, hotels have never done that. Now, the cool part is, for what we do, is that the ancillate revenue we generate is great for the hotel, but it's also great for the user. So the airline, you're probably not that happy about those kind of additional fees, whereas for us, what we do is we're creating this new consumer experience, which we can talk more about, which is really different versus kind of what goes on in the aviation industry. I was going to say, I've heard you use that airline analogy in other interviews.

And as someone who flies a lot, I resent every last time I'm nickel and dined by the airlines.

And in fact, I'm loyal to one brand specifically so I don't have to pay for my seat,

so I don't have to pay for that extra baggage or the internet or everything

that has a price tag to it. So is there a possibility that charging people for day access

or pool access could be dilutive to a company's brand? I don't think so. And remember,

even at the most luxurious hotels in the world today, people might come in who are not staying at the hotel to have a drink at the bar, or maybe eat at the restaurant, or maybe go to the spa. And today, none of those hotel guests who are staying overnight necessarily are worried that the person next to them is not staying at the hotel. In fact, I would argue it's accretive to the experience because when you travel, you really want to engage with kind of what's local and what it feels

like to be authentically there. And I think having more people who are local actually increases

that. Are the local residents your consumer, or is it the folks who are in Airbnb's and just

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