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The Rich Somers Report
We’re Acquiring Another Boutique Hotel Below Replacement Cost, and a Quick “23 Day Close”! | Alex Johnson (Saturday Edition) E308
Feb 15, 2025
The hosts dive into a new real estate deal in San Clemente, celebrating its charm and investment potential. They share thrilling updates on their boutique hotel acquisition and the strategic shifts in hospitality. Insights from past successes fuel their optimism for future growth. The focus is on appealing to modern travelers and enhancing the guest experience. The rapid 23-day closing process highlights the dynamic nature of real estate investing, inviting others to explore these exciting opportunities.
17:11
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Quick takeaways
- The acquisition of a boutique hotel in San Clemente reflects a strategic investment in a desirable yet undersupplied coastal market, promising robust tourism growth.
- Rebranding from Excelsior Stays to Summer's Collection symbolizes the team's evolution in hospitality management, aiming to leverage enhanced operational strategies and marketing for improved profitability.
Deep dives
Excitement for New Opportunities in Real Estate
The hosts express enthusiasm for acquiring a new boutique hotel in San Clemente, California, highlighting the appeal of the area and its tourist potential. They note that despite being a smaller market with limited accommodations, the consistent interest from visitors makes it an attractive location for investment. This acquisition marks the first deal in nearly 11 months, showcasing their return to the market with renewed confidence and ambition. The conversation also emphasizes the importance of relationships in the real estate industry, as the opportunity arose through a broker connection.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode