The Rich Somers Report

How to Buy Your First Boutique Hotel | Tim Hubbard Guest Episode E300

8 snips
Jan 28, 2025
Tim Hubbard, a seasoned collaborator in boutique hotel investments, shares his insights on transforming underperforming properties into thriving businesses. He dives into strategies for leveraging seller financing, emphasizing the importance of strategic location and understanding market dynamics. Tim highlights the significance of direct bookings to enhance profitability and discusses the exciting prospects of boutique hotels amid a major wealth transfer. The conversation is packed with actionable advice for anyone looking to scale their hospitality investments.
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INSIGHT

Boutique Hotel Valuation

  • Boutique hotels, unlike short-term rentals, are valued based on income.
  • Increasing income and decreasing expenses drives appreciation, offering more control over valuation.
ADVICE

Investing in All Markets

  • Invest in all market cycles, both up and down.
  • The current market presents an opportunity due to low competition.
ANECDOTE

Shelter Cove Success

  • Rich Somers bought a 10-room boutique hotel in Shelter Cove, California, for $1.5 million.
  • After renovations and improved operations, it appraised at $4.5 million in 12 months.
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