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The Rich Somers Report
How I Bought My First Boutique Hotel and Where I See Opportunity Over the Next 18 Months | E6
Dec 20, 2022
In this podcast, the host shares his journey of purchasing his first boutique hotel, including uncovering a manager stealing from the owner. He discusses the shift from multifamily to boutique hotels, exploring opportunities and strategic investments. The episode also highlights the advantages of boutique hotels over short-term rentals and the potential for growth in the market.
46:35
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Quick takeaways
- Transition from multifamily to boutique hotels due to market challenges and emerging opportunities.
- Potential for value creation and equity growth in underperforming boutique hotels through renovations and effective management.
Deep dives
Pivoting to Boutique Hotels
The episode discusses the transition from multifamily investments to boutique hotels due to challenges in finding lucrative multifamily deals with a high demand and capital saturation. The host shares an experience of selling a property in Indianapolis for 3X its original purchase price and contrasts the competitive nature of multifamily investments with the emerging opportunities in the boutique hotel market.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode