Entrepreneurs Sam Fox and Brian Frakes offer insights on their hospitality-driven approach to real estate development in Phoenix and how curating experiences and operating assets themselves are driving value.Key Takeaways: ·     Hospitality-led development is reshaping urban real estate, with restaurants and hotels serving as anchors that drive traffic, elevate brand identity and boost asset value. ·     Phoenix is emerging as a high-growth, diversified market, supported by strong demographics, pro-business policies and expanding sectors like semiconductors and healthcare. ·     Controlling the operations of hospitality assets enhances consistency and guest experiences, creating a competitive edge and long-term brand loyalty. ·     Investment strategies are evolving, with developers leveraging a mix of institutional equity, local partnerships and vertically integrated operations to deliver complex, high-value projects. ·     Experience is the new differentiator in retail and hospitality, as consumers increasingly prioritize service, ambiance and authenticity over convenience.