The Fort #276 - Jake Wurzak - Founder & CEO of DoveHill Capital Management & President of Wurzak Hotel Group - Building a Hotel Empire
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Jake Wurzak is the Founder and CEO of DoveHill Capital Management, LLC. Jake also serves as the President of Wurzak Hotel Group. Since founding DoveHill in 2011, he has led the investment in over $1.5B of hospitality projects across the United States. Jake aims to differentiate DoveHill by focusing on distinct hospitality assets that create a sense of place and impactful experiences.
Jake holds a Juris Doctorate degree from Nova Southeastern University and earned a BBA with a concentration in finance from the University of Miami. Jake sits on the board of the Broward Center for Performing Arts and the Fort Lauderdale Art Museum. In addition, Jake is a member of the Young Presidents Organization Gateway chapter.
Jake is passionate about traveling with his family and one of his favorite destinations is Brush Creek Ranch in Wyoming. He is an avid skier and once hiked up the Highlands Bowl four times in one day!
On this episode, Chris & Jake discuss:
➡️ How he creates an exceptional hospitality experience
➡️ How they underwrite hotel investment opportunities
➡️ Partnering and learning from Barry Sternlicht
➡️ How they add value to different types of hotels
Chapters:
(00:03:47) - How do you experience hotels?
(00:06:00) - What is hospitality?
(00:09:03) - Why and how did you get into this business?
(00:10:31) - Jake’s companies
(00:12:22) - How did Covid affect Hospitality?
(00:18:48) - How has the industry changed post-pandemic?
(00:20:54) - How did you approach hotel conversions?
(00:22:28) - How do branded hotels differentiate from each other?
(00:23:58) - What does good operating look like in a branded hotel?
(00:25:50) - How are daily rates set & What are the major KPIs?
(00:33:25) - AirBnb vs. Hotels
(00:36:01) - How do you define Lifestyle?
(00:37:07) - Who are great people or companies that are creating amazing lifestyle experiences?
(00:39:48) - Are there any emerging brands that will overtake the top luxury hotels like 4 Seasons and St. Regis?
(00:41:38) - How would a hotel development come together?
(00:45:04) -What are you looking for in a hotel when you want to buy?
(00:48:07) - What’s a soft brand?
(00:49:05) - Do you need to have experience to partner with a Hilton or Marriott?
(00:50:00) - What does upgrading management look like?
(00:55:20) - What feedback do you see most often from guests?
(00:58:33) - Partnering with Barry Sternlicht
(01:04:36) - Experiences at the One in Miami
(01:08:42) - How do you approach the Food & Beverage side of your properties?
(01:10:16) - What’s the greatest hotel in the world?
(01:14:02) - How do you view hotels as an investable asset over the next 5 years?
(01:17:05) - Is there anything on the horizon that will make hotels more profitable?
Additional Resources:
👉 Follow Jake on Twitter: https://twitter.com/JWurzak
👉 Jake's Podcast - Masters of Moments: https://mastersofmoments.com/
👉 Dovehill Capital Management: https://www.dovehillcos.com/
➡️ Learn more about Xeal: https://bit.ly/XealEnergy
➡️ Fort Capital: https://bit.ly/FortCapital
➡️ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/
➡️ Follow Chris on Twitter: www.twitter.com/FortWorthChris
➡️ Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
➡️ Sign Up for our Newsletter: https://newsletter.thefortpod.com/
➡️ Subscribe to The FORT on YouTube
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