How to Lead a Hospitality Operating Team - John Grossman - CEO of Marc & Rose Hospitality [Replay]

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Apr 24, 2024

John Grossman, CEO of Marc & Rose Hospitality, shares insights on sourcing deals, leading teams, and upcoming hospitality trends. Topics include avoiding franchising, market criteria, property acquisition during moratoriums, and strategic planning for hotel assets. The podcast delves into the strategic approach of owning independent hotels, investing in iconic markets, and designing hospitality properties for long-term value creation.

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ADVICE

Location Focus

Prioritize location when investing in hotels.
Focus on leisure travel and independent hotels in the Mountain West and West Coast.

INSIGHT

Leisure and Independence

Independent hotels in desirable locations benefit from selling the destination itself.
The pandemic boosted leisure travel, making these locations even more attractive.

ANECDOTE

Avoiding Franchises

John Grossman's company, a family business, had the credibility to secure financing for independent hotels.
This existing infrastructure and scale allowed them to avoid franchise models.

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John Grossman is the CEO of Marc & Rose Hospitality, a collection of iconic resorts and hidden gems born of the America West with a passion for hard work, hospitality, and high-flying adventure.

This is a replay of the well-received episode #2 of Masters of Moments where Marc & Rose was known as Classic Hotels & Resorts.

In this episode, we discuss:

- Sourcing deals & developing strategy

- Leading an operating team & executing on a vision

- Hospitality trends over the next decade

John Grossman:

Marc & Rose - https://marcandrosehospitality.com/

Grossman Company Properties - https://www.grossmancompany.com/

Connect & Invest with Jake:

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Take the Hospitality Investing Masterclass: https://learn.jakewurzak.com/

Learn How to Invest with DoveHill: https://bit.ly/3yg8Pwo

Topics:

(00:00:00) - Intro

(00:03:30) - Introducing John & his portfolio

(00:05:55) - What is it about leisure and independent hotels that is attractive to you?

(00:07:40) - How have you avoided the franchising model after all these years?

(00:09:12) - How do you approach the infrastructure of your organization?

(00:09:59) - Why are folks who’ve come from places like Ritz Carlton and 4 Seasons a great fit for you?

(00:11:40) - What are your criteria when you’ve found a market you like?

(00:15:15) - How are you finding these properties when there are moratoriums on hotel doors?

(00:18:42) - How do you plan out how each hotel will look once you’ve acquired an asset?

(00:21:17) - How do you underwrite your deals?

(00:26:43) - How do you think about who the guest is going to be?

(00:29:18) - Who handles the design for your hotels?

(00:32:56) - What are you prioritizing as you set your budget?

(00:36:36) - What makes the best designers truly great?

(00:39:42) - Are you prioritizing public spaces over guest room decisions?

(00:43:01) - How are you creating “Moments” without focusing on the F&B side of the property?

(00:45:36) - Is there a variable when you’re analyzing a new investment some would find surprising?

(00:50:37) - Is being vertically integrated your best competitive advantage?

(00:53:39) - How involved are you in setting the mold of the brand narrative for the designers?

(00:57:22) - What are the big trends that you’re thinking about over the next 5 years?

(01:03:18) - What is your favorite hotel?