Resilience in Extraordinary Times
The events of 2020 presented some of the most challenging circumstances of my professional life. The COVID-19 pandemic introduced unprecedented uncertainty, disruption, and complexity across every sector in which we operate. Like so many others, we were forced to adapt quickly, remain disciplined, and persevere through conditions none of us had previously experienced.
Like many leaders, I felt the weight of responsibility for both our businesses and the people and families who depend on them.
Our People
One of the accomplishments I am most proud of — and grateful for — during this period was our ability to retain the vast majority of our teams. Across our hospitality platforms, hundreds of employees depend on these businesses, with many more supported directly and indirectly through our real estate-adjacent operations.
Daily communication with our teams throughout the crisis reinforced the importance of direct leadership, transparency, and trust. In moments of uncertainty, staying connected mattered as much as any strategic decision.
Financial Strength and Adaptability
Our longstanding commitment to operating without debt at the operating-company level proved essential. Entering the crisis with strong balance sheets allowed our businesses to remain flexible and focused on long-term outcomes rather than short-term survival.
I was consistently impressed by the adaptability, creativity, and resilience demonstrated across the Oksenholt Capital family of companies. The ability to innovate, remain constructive, and maintain perspective during such a difficult period spoke volumes about many people and our culture.
Industry Challenges
The hospitality industry faced extraordinary strain throughout 2020. Many vacation rental operators and well-known hospitality brands were forced into significant workforce reductions as demand collapsed.
Our commitment to our people — particularly the frontline and field teams who form the backbone of these businesses — was not without cost, but it proved decisive. I believe this approach positioned our companies to recover more quickly and emerge stronger as markets began to reopen.
Real Estate Performance
Our real estate teams deserve particular recognition. A prudent, conservative approach to leverage allowed our properties to remain stable and responsive despite temporary rent deferrals in certain segments. Occupancy remained strong overall, and the portfolio continued to perform in line with long-term expectations.
Reflections
The events of 2020 reinforced lessons I have long believed to be fundamental: financial discipline matters, humility matters, and faith and personal grounding matter. Appreciating moments of stability and blessing allows us to approach future challenges with perspective and resilience. Storms — both personal and professional — often arrive without warning.
Looking Ahead
As we looked ahead to 2021, I did so with optimism and gratitude. While the challenges of 2020 were significant, the experience affirmed the strength of our structure, our people, and our long-term approach.
I am deeply thankful that the Oksenholt Capital family of companies was able to withstand the COVID-19 crisis and remain positioned for future growth. To everyone who stood with us through one of the most difficult years many of us will ever experience — thank you.
I wish you continued health, perspective, and optimism.
With gratitude,
Jon Oksenholt
Founder & CEO
Oksenholt Capital