The funny thing is that “value added economy-of-scale brand-driven tech-driven real estate” is pretty much just table-stakes real estate. The hotel industry has

The funny thing is that “value added economy-of-scale brand-driven tech-driven real estate” is pretty much just table-stakes real estate. The hotel industry has been doing this for decades and has never seen these kinds of multiples. The weird thing is that SoftBank should have known this years ago.