Alum CEO on why he's betting on luxury hospitality in college towns

Alum is a new luxury hospitality concept focused on college towns, founded by David Vialli and backed by Derek Jeter. Its first property is in Tuscaloosa, Alabama, near the University of Alabama, with groundbreaking scheduled for September. Alum offers a members' club and condo-hotel, targeting alumni, donors, and sports fans, filling a gap in upscale lodging in college towns.