COVID - 19 HOSPITALITY RESPONSE

COVID - 19 HOSPITALITY RESPONSE BRIDGE PERIOD PLANNING Spring/Summer 2020

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SPRING/ SUMMER 2020 COVID - 19 HOSPITALITY RESPONSE Contents 03

04 – 07 THE BRIDGE PERIOD 08 – 10 WHAT WE NEED TO DO 11 - 14 ABOUT SAYBROOK 15 - 30 THE SAYBROOK INFLUENCE 31 - 35 OUR CREATIVE PARTNER 36 - 38 WHAT SAYBROOK IS DOING FOR YOU

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THE BRIDGE PERIOD: THE PEOPLE WILL DECIDE

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THE BRIDGE PERIOD: THE PEOPLE WILL DECIDE

For hospitality-based businesses especially, it won’t matter what guidance Federal, State, or Local governments might issue in terms of phased re-openings; ultimately the people will decide when they are comfortable – our guests will decide.

As a result there will be an interim/bridge period, likely of between 12 and 18 months, but certainly at least 6-12 months, wherein business will be allowed by law to operate (*under various new guidelines regarding safety/transmission) but during which the virus is still widely present.

What we all do between now and the end of that period will determine which of us will succeed in gaining and retaining market share during this time.

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THE BRIDGE PERIOD: PEACE OF MIND

Real progress along one or more preventative areas (vaccine, treatment, or testing) is key to our renewed economic success (which would likely still, in the short term, see dramatic changes to our business models). Absent this, we will all need to adapt our operations to this temporary new normal…

…Bridge Period.

If our and restaurants are going to be able to actually attract guests after we open, we will all need to focus on one thing: affording people peace of mind.

So, practically speaking, what does this mean…?

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WHAT WE NEED TO DO

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Broadly, we all need to do everything we can to make things as safe as possible for people – staff and guests alike (i.e. by limiting the likelihood of virus transmission to the maximum extent possible).

We need to make these measures as visible as possible. It’s one thing to limit the possibility of transmission through the overnight disinfectant fogging of a room, and it’s something else entirely to make sure potential guests are acutely aware that these measures are taking place.

We need to be ready to discard our prior history and habits regarding operations. Those restaurants and hotels are dead right now. There is no way to expect to survive, much less succeed, in this bridge period by thinking that what will happen over the next several months will bear any resemblance to what has happened over the past several decades.

SPRING/ SUMMER 2020 COVID - 19 HOSPITALITY RESPONSE 10 THROUGH MATH + SCIENCE

As many of you know, I am Founder/CEO At Saybrook and was pre-med (a psychobiology major at Yale) and my first job out of college was as a bone marrow cancer-research fellow at Memorial Sloan-Kettering in . As a result I have a broad scientific background and understanding, that, frankly, most people do not. (I never in a million years imagined that would or could help in our business, but lo and behold…)

The many thousands of hours I spent in various scientific and medical research labs gives Saybrook a unique perspective on today’s challenges, and our ability, including though our creative and branding partner agency, and vast network of freelancers, finance and HR executives, architects and interior designers, attorneys and insurance and organized labor experts, custom fabrication shops, and yes, even physicians, to help you reconsider your entrenched positions regarding how you operate every facet of your business, positions us to lead these collective efforts to overcome today’s market challenges.

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ABOUT US

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SAYBROOK HOSPITALITY ADVISORS CORE CAPABILITIES Ideation + Concepting Saybrook Hospitality, founded in 2013, is Re-concepting + Renovations an international, integrative, Property-Wide Programming full-service hospitality advisory, Kitchen Design + Menu Development focusing its industry-leading Construction Oversight best-practices and people on hotels and restaurants, including day to day Interior Design operations management, programming, Project Management concepting, renovations and relaunches, Executive Recruitment financial due diligence, real estate HR/Training procurement and leasehold negotiations, Purchasing digital marketing, profitability audits, COGS/Profitability Audits executive coaching and mentoring, menu Finance development and engineering, and beyond. Operations

SPRING/ SUMMER 2020 COVID - 19 HOSPITALITY RESPONSE 13 EDWARD ROSENTHAL has been an industry leader for decades, working with many hospitality giants, including , Tao Group, LDV, and Stephen Starr. A graduate of Yale University, after a decade of having designed, built, opened, operated, and sold his own ultra-successful NYC restaurant, Ed led the build-outs and openings of Morimoto and Buddakan restaurants in New York, where he was responsible for the dispensation of over $30MM in build-out capital. (Together these two highly successful, high-profile restaurants gross over $40MM annually.) He founded Saybrook in 2013.

Before Saybrook, Ed was Chief Operating Officer at LDV Hospitality, owners and operators of more than twenty restaurants and nightclubs in six states including Scarpetta with Chef Scott Conant and American Cut with Iron Chef Marc Forgione. Previous to that he had been Vice President of Food and Beverage for Morgans Hotel Group, where he oversaw food and beverage development and operations for more than sixty outlets, spread across fourteen properties to the tune of more than $150MM in revenues. Prior to Morgans, Ed served as Chief Operating Officer and member of the Board of Directors of Quintessentially, Inc. He currently serves on the Board of Directors for the non-profit Child Guidance Center, as well as on the Board of the $750MM Connex Credit Union.

Saybrook’s current and past clients include: Gaw Capital Partners, Quintessentially, LDV Hospitality, the Hospitality REIT Rubicon Company, Morgans Hotel Group, Tao Group, BR Guest Hospitality, Hill Country Restaurants, EMM Group/Catch Restaurants, Starr Restaurant Organization, The Hollywood Roosevelt, Ambassador Chicago, and Two Bunch Palms Hotels, , Black Tap Craft Burgers and Beer, EOS Hospitality, the private equity hotel fund, and the publicly traded $1.5BN Howard Hughes Corporation, among others. SPRING/ SUMMER 2020 COVID - 19 HOSPITALITY RESPONSE 14

CLIENTS

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THE SAYBROOK INFLUENCE

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PROTECTING YOUR GUESTS

Saybrook can, working from an epidemiological basis, not only design physical barriers to prevent disease spread, but can also have these fabricated and installed. Such temporary Plexiglass “sneeze guards,” designed to physically separate one person from another (vs. to separate a person from the food they are preparing or eating) will go a long way towards giving people peace of mind. These can be installed at front desks and host stands, between tables and barstools, between bartenders and patrons, in elevator cars and stairwells, etc. Our partner architects and medical doctors will sort out the code and maximize the efficacy for you. Similarly so we can help develop disinfection protocols for guest rooms and public spaces, etc.

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PROTECTING YOUR GUESTS CONT’D...

Housekeeping, laundry, and ware-washing protocols will all need to be “audited” in order to ensure high enough (and long enough) chemical disinfectant concentrations and wash/rinse temperatures are in effect. And you will need to inform potential guests to offer them peace of mind. Similarly, all employee hand wash stations must have touch-less, antibacterial soap, and there must be touchless hand sanitizing dispensers throughout. And again, we want people to know. Public bathrooms should be converted to touchless, etc. Any/all points of sale must be enabled for mobile/online/touchless payment processing/e-signatures as well, including pre-pay check-in/out.

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PROTECTING YOUR STAFF

Physical barriers and one-way/physically-distanced pathways can (and should) also be installed in the back of house, for instance on cook lines and in prep-areas, both to protect staff but also and again to bolster guests’ peace of mind. Saybrook can not only design, build, and install these, but we can also re-engineer your menus in order to decrease the number of line cooks necessary, helping to keep social distancing in the kitchen, and lowering labor costs while maintaining the integrity of the guest experience (via your concept, service, design, culinary, etc.) throughout.

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PROTECTING YOU

We can’t be afraid that our guests might balk at such prophylactic safety measures; we must embrace them and make them a part of our culture and ethos, at least temporarily so. People will gravitate towards the business that make them feel safe and smart for patronizing. Not to mention there is potential liability risk should your business not take every reasonable precaution, and there is a wide outbreak that is contact traced back to you - especially if it’s a staff member; our nationally-recognized labor attorneys can help with the drafting of risk-mitigation releases, etc.

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CRISIS FINANCIAL AND HUMAN RESOURCES PLANNING

Absent your many furloughed executives, Saybrook can help your business create new financial projections for both upcoming phases (bridge period and post-mitigation) in order to maintain stakeholder and investor confidence, and plan for the reuptake of both salaried and hourly associates, from a both a strategic and human resource (recruiting, hiring, processing, and training) perspective. The complete re-thinking of your labor force, executive and line-level alike, will be integral to success going forward.

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STRATEGIC THINKING

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STRATEGIC THINKING- MODULATING CONSUMER MINDSET

We are a Hospitality Advisory Conglomerate… with decades of international experience behind us…

Our price points will need to change - prices will most likely need to rise as a matter of course, but that will happen across the board; no one will be immune, no one will be able to operate at a drastically reduced/social distanced capacity, offer the same services, and yet charge the same prices.

If price increases are unavoidable, Saybrook is advising, among other strategies, doing so via a transparent ‘COVID surcharge’, to be removed when full capacity can be safely achieved, and which some percentage of, in the right circumstances, can be banked and cashed in for a credit towards a future (all-clear) dinner/stay/visit, etc.

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STRATEGIC THINKING - MODULATING OUR MINDSET

In most cases, businesses will need to spend money and accept lower profit margins for a time; the equipment, physical, and technological preventative measures necessary (along with the messaging and outreach spends necessary in order to let guests know how we are looking out for them and give them the confidence and peace of mind to come back) cost money; if you will require financing, act now – and, of course, Saybrook can help.

Masks must be purchased and stockpiled now, not two months from now – these can be customized to be fun and playful – both for guests and staff. Gloves and sanitizing cleaning chemicals too. And in some instances face shields and/or clear safety glasses. The more we do, and the more the potential guest sees us doing, the more business we will be able to generate over this temporary bridge period, and the more long-term guest loyalty we will engender for the future.

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OUR CREATIVE PARTNER FIVE AGAINST ONE STUDIO

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FIVE AGAINST ONE STUDIO

To complete the loop, we can develop your guest-facing messaging and build out unique, brand-compatible creative around it, supported by appropriate programming and a corresponding outreach plan regarding timing and marketing vectors, etc.

SPRING/ SUMMER 2020 COVID - 19 HOSPITALITY RESPONSE 33 FIVE AGAINST ONE STUDIO

Five Against One Studio is a multi CORE CAPABILITIES disciplinary advisory studio built out of necessity for the current, "experiential Brand Experiences economy." The studio is comprised of executive level experiential strategists, Naming creatives, and storytellers that provide Brand Identity expertise and insight on brand Brand Programming development/ identity, immersive consumer Digital Design experiences and activations, industry leading product launches, and effective Marketing + Activation ongoing programming and content for brands Ideation and Concepting that are looking to engage their audiences Experiential Production through both (IRL) in real life, and digital experiences.

SPRING/ SUMMER 2020 COVID - 19 HOSPITALITY RESPONSE 34 SALVATORE IMPOSIMATO is the Founder + Chief Strategist of Five Against One Studio, where he intimately leads all strategic initiatives from ideation to execution through authentic brand experiences, and immersive consumer touch points from both tech companies to heritage brands. Sal most recently left best in class creative studio, dFm as the VP, Brand + Strategy, where he managed and oversaw a team of 30 plus creatives and strategists, including both free and permalancers on all the client facing brand and strategy concepts, creative and design for the studio.

An executive level brand strategist with over twenty years experience creating, implementing, managing, and executing highly visible, industry leading cultural activations and effective programming for several well known brands. Sal has a long track record as a corporate level brand experience executive on the consumer side of well known and progressive hospitality companies that includes, Ian Schrager’s Morgans Hotel Group, Thompson Hotels, Starr Restaurants, and Kaye Capital Management where he led the cultural positioning of the hotel and restaurant portfolios, brand partnerships, and overall communications strategies.

During his time at dFm, Sal also spearheaded and led all strategies, pitches, and won new business on all dFm related projects and clients that include, the Maybelline House NYFW 2018, launch in San Francisco, Alexander Wang, (Square’s) Cash App, (Drake’s) esports team, 100 Thieves, Clarins, Hood by Air, Sunday Goods, Highgate Hotels, The Howard Hughes Corporation, and Highsnobiety for Art Basel.

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CLIENTS

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WHAT SAYBROOK IS DOING FOR YOU

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WHAT SAYBROOK IS OFFERING

All client service agreements will be fully cancelable if never initiated; clients can sign an agreement now, and then choose later whether or not to “activate” it.

Clients will be able to defer payment on our work; we understand that everyone needs to get their cash flowing again, and will work with you on postponing your payments for up to 90 days, in order to help you do so.

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LET’S GET TO WORK

We encourage current and past clients to please reach out now, today, in order to put a [fully cancelable] reopening service agreement in place, so that we are not all scrambling to engage weeks from now, as more and more states are set to open back up.

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THANK YOU

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