The Hotel Investor Playbook Turning $400K into $10M: Lessons in Fear, Failure, and Direct Bookings | E13
Jan 16, 2025
In this engaging conversation, Gil Chan, the host of Direct Booking Simplified, shares his expertise on turning a $400,000 investment into a thriving $10 million hospitality business. Tune in as they expose the secrets behind boosting direct bookings by 12%, which increased property valuation by over $600,000. Discover how an obsession with guest experience and strong team culture can fuel growth, and learn how overcoming fear and failure can be a pathway to success in the competitive hospitality landscape.
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From $400K Down Payment To $10M Portfolio
- Mike and Nathan bought a hostel during the 2020 pandemic and turned it into an award-winning brand.
- They scaled $400K into $10M of assets and built $2.5M revenue across properties.
Three Pillars Behind Their Success
- Success came from obsessing over guest experience, building systems, and hiring aligned culture.
- Those three pillars drove operational improvements and award recognition.
Opportunity Found In A Listing Note
- They discovered the hostel opportunity after seeing an apartment listing marked "previously being run as a hostel."
- That discovery combined Mike's STR margins and Nathan's real estate experience into a new business model.
