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Masters of Moments
Balancing Tradition and Innovation: Modernizing Family-Run Hotels - Mahavir Patel - President & CEO - Aatmos
Sep 11, 2024
Mahavir Patel, President & CEO of Aatmos, discusses the exciting blend of tradition and innovation in family-run hotels. He shares insights on transforming tired motels into vibrant lifestyle destinations, emphasizing the challenges of pleasing both guests and major brands like Marriott. Mahavir dives into the underestimated aspects of hospitality, the balance between personal service and technology, and how local heritage influences modern designs. He also explores effective strategies for making smaller hotels profitable while enhancing guest experiences.
01:12:35
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Quick takeaways
- The transition from a mom-and-pop hotel to a branded lifestyle operation demands significant investments in infrastructure and management systems.
- Enhancing guest experiences through well-planned landscaping can significantly improve a hotel's curb appeal and profitability.
Deep dives
The Importance of Relationships in Real Estate
Relationships play a crucial role in the real estate industry, often determining the success of business ventures. A significant portion of deals in real estate is secured through personal connections rather than traditional marketing channels. One innovative initiative developed to leverage these connections is the Deal Rewards Program at Dove Hill Capital Management, which encourages individuals to bring off-market deals for potential collaboration. This approach emphasizes co-investment opportunities and unique deal structures, fostering a collaborative environment within the industry.
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