In 2004, Scott and his father, Bob, started Moss. Together they created the company’s first winning presentation and managed the company’s first project. Today, Moss employs over 1,600 people across the US with revenue exceeding $3 billion. As CEO of Moss, Scott inspires and empowers his team to create the exceptional. His innate curiosity drives a culture of continuous learning where insight, engagement, and determination define an individual’s success.  On this episode, Jake and Scott Discuss: The process of building a generational family business Implementing a Vision Leadership Council A deep dive on the Construction Industry Moss' growing Solar Business   Links: Scott on LinkedIn Moss Construction The Palace in St. Moritz   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (00:02:50) - Scott’s career in construction (00:12:56) - Do you set goals every year or every 5 years? (00:13:50) - How has the construction market changed over the past 10 years? (00:16:21) - Are you seeing non-diversified companies go under? (00:17:44) - How do you select new markets? (00:20:51) - How do you think your customers view your company? (00:23:19) - What are some mistakes you see developers make? (00:27:40) - When should people start the conversation with their General Contractor? (00:29:53) - What are your first steps when you begin a project? (00:33:19) - When a market is lacking sub-contractors, do you ever bring in subs from out of the market? (00:34:48) - What’s changed in your strategy over the past 5 years? (00:37:53) - How do public and private jobs differ? (00:41:23) - Scott’s Vision Leadership Council (00:48:38) - Can you repair trust once it's broken? (00:50:24) - How do you view your role with regard to this council? (00:51:32) - How do you ensure your culture scales with the company's growth? (00:56:59) - What meetings are you attending that help you keep a pulse on the business? (01:01:18) - Where is most of your energy spent on a weekly basis? (01:04:13) - What are your goals for the solar side of the business? (01:06:04) - How much does China impact the future of your business? (01:09:40) - Are you seeing any major shift in your industry right now? (01:15:23) - How are you building Moss to be a generational business? (01:21:32) - What is your favorite hotel?

Zach has over a decade of experience developing real estate throughout the Southeast.  Current and past projects include hotels, multi-family, mixed-use, and retail. As CEO, he sets the overall strategy for the firm and oversees all acquisition, development, and financing efforts. Kupperman Companies designs, develops, and acquires hotels, retail, multi-family, and mixed-use projects in Louisiana, Texas, Georgia, Alabama, Colorado, and across the Gulf Coast. They invest in award-winning historic redevelopments that preserve the history, architecture, and culture of the surrounding community. Kupperman currently owns and manages over 520,000 square feet of hospitality, retail, and mixed-use assets and over 100 acres and 500 pads of manufactured housing communities through their affiliate, Lucky Communities. On this episode, Jake and Zach discuss: Transitioning from law into Real Estate Historic Tax Credit deals The impact of New Orleans' transformation since Katrina Acquiring one of the most coveted pieces of Real Estate in Aspen, CO Building partnerships with hospitality operators Links: Kupperman Companies Zach on LinkedIn The Little Nell in Aspen The Chloe, New Orleans Hotel Saint Vincent, New Orleans Hotel Peter & Paul, New Orleans   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (2:27) - Zach’s transition into real estate (7:12) - How do Historic Tax Credit deals work? (10:04) - How did placemaking become a bigger part of your strategy? (11:30) - How has New Orleans changed since Katrina? (14:08) - What else does the city need to do from a RE perspective? (14:52) - What led you to add hospitality to your portfolio? (17:57) - Do memberships offset some of the costs that you lose with smaller door counts? (19:37) - With The Drifter & Hotel St. Vincent, what was your intention in setting the vibe? (24:16) - How do you structure your deals? (26:02)  - Where are your investors located? (26:24) - What did your debt and equity structure look like for the Saint Vincent Hotel? (32:36) - What did the business plan for the hotel end up being? (39:55) - What aspects of a historic tax credit deal would give you hesitation before jumping in on one? (41:02) - Do you manage Hotel St. Vincent? (42:03) - What have you learned about hotel ops? (43:42) - What are you focusing on now when thinking about new deals? (45:01) - Do your investors ever express concern about diversifying your portfolio? (46:39) - Are there any big opportunities that have you excited right now? (47:46) - How does a guy from NOL get one of the most coveted pieces of RE in Aspen, CO? (54:43) - How important is integrating F&B into the hotel experience today? (56:20) - How are the independent hotels in your portfolio competing against the market? (1:01:08) - Converting Hotels into MF (1:09:59) - How do you run Kupperman and how have you utilized that strategy to grow the firm? (1:13:44) - What does a typical week look like for you? (1:15:41) - How did you train your offshored underwriter? (1:20:13) - What is your favorite hotel?

Matt Marquis was named CEO of Pacifica Hotels after 7 years as the company's President and succeeded his father who founded the organization in 1970. Pacifica is the largest owner and operator of Boutique hotels on the Pacific Coast. On this episode, Jake and Matt discuss: A walkthrough of converting an independent hotel in Hawaii  Developing Investor Relations Growing and evolving a Management Company  Key to differentiating the hotel experience Links: PacificaHotels.com Matt on Instagram King Kamehameha's Kona Beach Hotel Hotel Bel Air   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (00:02:07) - Matt’s career background (000:07:46) - What did you do within the hotel asset that made you so successful? (00:08:50- What did you come to be known for? (00:10:00) - What was so appealing about doing deals in California? (00:11:24)- How would you describe your portfolio in 2023? (00:12:51)- Converting an independent hotel (00:19:46) - Selling an Asset to Blackstone (00:23:41) - How do you think about taking a profit? (00:29:33) - What happens when you have a ReFi? (00:32:57) - Do you readjust your holding patterns when working with Institutional Capital? (00:36:25) - What have you learned about Investor Relations? (00:39:52) - Where do you find investors now? (00:41:07) - What pillars won’t you move on in negotiating with investors? (00:42:18) - What was it like being managed by Blackstone? (00:44:52) - What’s the process of creating a Hotel Brand? (00:50:20) - Is there a certain size hotel where the amenities become challenging? (00:53:18) - Are there simply too few deals out there? (00:54:16) - Is it unsettling having all this dry powder on the sidelines? (00:55:46) - How has your management company evolved over the years? (00:57:42) - What key things do you focus on to differentiate the hotel experience? (01:03:18) - How do you think about preparing your business for the next generation? (01:07:26) - How are you growing the management company? (01:09:54) - What is your favorite hotel? (01:14:46) - Where can people find you online?

Vamsi Bonthala is the Chief Executive Officer and co-founder of Arbor Lodging Partners, an award-winning national hotel investment firm. Vamsi has overseen approximately $1 billion of transaction volume since the inception of Arbor Lodging Partners, where he leads all company activities including general corporate strategy, investor relations, strategic relationships, acquisitions, dispositions, and asset management. On this episode, Jake and Vamsi discuss: Breaking down Vamsi's first deal Growing Arbor Lodging and building a vertically integrated management team Maintaining efficient deal pipelines Converting Hotels to Multifamily   Links: Vamsi on LinkedIn Arbor Lodging Partners The Grand Hyatt Kauai   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (1:50) - Vamsi’s journey into Hospitality (6:38) - What happened in your first deal? (8:05) - How did you raise money for the deal? (10:41) - Looking back, what were some of the questions you should have asked in your first deal? (12:14) - How did you structure the deal with investors? (12:57) - Hospitality as a complex asset (14:51) - Were you looking for broken RE deals early on in your career? (17:15) - When did you start to grow your team? (18:57) - What made you decide to bring management in-house? (21:20) - Did institutional partners start to flow in once you became vertically integrated? (22:04) - How has your philosophy been shaped by doing deals in markets outside your own backyard? (25:36) - How do you and your partner figure out what deals and markets you’ll focus on? (28:21) - How do you keep your acquisitions team incentivized and motivated? (31:45) - How do you make sure your deal pipeline is as efficient as possible? (32:52) - What is your strategy for 2023? (34:58) - Are you looking at converting Office to Hotel? (39:40) - Do you have separate capital for Debt and Equity? (42:36) - How do you make the economics work at scale? (45:26) - Why do you work with institutional partners vs. syndicating deals? (53:30) - At what point did you start viewing the management side as its own business? (58:31) - What’s something surprising that you’re doing in the management company? (1:00:03) - What tools are you using to maintain a pulse on the business? (1:05:22) - How do you approach hybrid work with your teams? (1:07:10) - How do you convert hotels to multifamily? (1:18:13) - What is your favorite hotel?

Dave Pollin is the Co-Founder and Co-President of The Buccini/Pollin Group (“BPG”), co-headquartered in Washington, DC, and Wilmington, DE. He also serves as Chairman of PM Hotel Group, the hotel management affiliate of BPG. Mr. Pollin leads the firm’s hotel acquisition, development, and capital markets efforts. The Buccini/Pollin Group has acquired and developed over $5 billion of properties in every real estate asset class throughout the United States since its founding in 1993. BPG is the developer, owner and operator of over 40 hotels, seven million square feet of office space, 15 major residential communities, numerous retail properties, and multiple sports/entertainment venues. On this episode, Jake and Dave discuss: BPG's Technology Implementation Building Vertical Integrations across the Organization How to start a PE Firm with discretionary funds Dave's experience owning a Major League Soccer Club   Links: The Buccini/Pollin Group BPG on LinkedIn Virgin Hotels Nashville & New Orleans Governor’s Camp Collection in Kenya   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (1:45) - Introducing Dave, his background, and career (5:46) - Why didn’t you take the easy route and go work for your father at 25? Why start your own company? (9:25) - Why does everyone say hotels are so hard? (12:01) - What’s the RevPar index? (12:58) - What were some early challenges or mistakes you made early on in your career? (15:13) - Do your culture initiatives flow down to the hourly worker level? (17:35) - What kind of technology have you built into your management company? (20:24) - How do you pursue management contracts? (23:20) - What have you learned as an owner where you’re not managing the property? (26:00) - Is the Hilton F&B model dead? (32:41) - Can you walk us through an entire deal? (41:48) - What was your process for starting a PE firm with discretionary funds? (47:58) - What was the most surprising thing you learned in this process? (49:35) - How did you capitalize Fund #1? (50:34) - Can your Funds invest in a deal you sponsor? (52:28) - Are you a better investment shop due to your vertical integration? (54:09) - What was the thought behind starting so many companies within your brand? (55:59) - What goes through your mind when thinking you need to bring another service in-house? (57:23) - What was your experience during Covid? (59:17) - What are you seeing for Office right now? (1:03:18) - How did you get into the Major League Soccer business? (1:09:12) - How do you make money in the MLS? (1:10:49) - What is your favorite hotel?

As Co-CEO, Rob Lowe focuses on operations both at the corporate level and across its real estate activities.   Additionally, Rob and Mike co-chair the firm’s wholly-owned hospitality affiliate, CoralTree Hospitality Group. He is a past Trustee and President of the Palisades Presbyterian Church, is currently on the Board of Managers at the Palisades-Malibu YMCA and is an active member of Urban Land Institute.  On this episode, Jake and Rob discuss: How Lowe was able to build such a massive organization Converting Office to Residential Developing Hotel Properties Incentivizing teams and developing culture Links: Lowe - Beyond Buildings Rob on LinkedIn CoralTree Hospitality Ivy Station in Culver City, CA Terranea Resort in Palos Verdes, CA La Coorniche Hotel, France Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (2:36) - How did Lowe build such a massive footprint? (10:04) - What were some early insights you had on the importance of people and place? (14:23) - What are your thoughts on Office as an asset class? (16:25) - Are you looking to convert any of your Office buildings? (18:46) - What are some things you look for when determining if you can convert an Office to Residential? (20:32) - Have you ever considered getting Hotel, Office, and Resi within one building? (22:58) - How do your local teams integrate into the larger organization? (24:02) - How do you capitalize your deals? (25:06) - What’s been your experience working with your brother and how did you end up in the business? (28:06) - Did you have any hotel experience before you stepped into the role? (29:16) - Is developing hotels in today’s market more difficult? (32:41) - Do you prefer to buy assets from a bank or to develop from the ground up? (33:18) - Developing the Terranea hotel in California (49:27) - How did you approach F&B at the property? (51:02) - Thoughts on entitlement (52:27) - How did Destination Collective come about? (1:02:06) - Would you consider buying management companies with your new company? (1:03:58) - What contracts are you looking for right now? (1:05:20) - How do you think about incentivizing? (1:08:45) - How much time do you spend developing culture? (1:11:14) - What is your favorite hotel?

Bashar is the Founder of Practice Hospitality and This Assembly. Practice Hospitality creates the experiences travelers seek out by building an environment that balances emotional intelligence, tradition, ritual, and creativity. This Assembly builds, markets, and manages amazing hotels. On this episode, we discuss: How Bashar got started in the Hospitality space Building hotels Focusing on design and the human touch Making the magic! Biggest pet peeves How to build an enduring hospitality brand   Links: Bashar on LinkedIn Bashar on Instagram Connect with Bashar here Soho Warehouse, NYC Proper Hotel Austin Remo Workspaces Aman Hotel in Tokyo   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (1:59) - Bashar’s background and career (5:01) - Does ‘cool’ come naturally? (8:30) - Did you ever fall victim to the shift away from hospitality in favor of shock & awe? (11:30) - How do you train someone to be hospitable? (14:32) - What was your role when joining provenance? (16:45) - How do you think about programmatic ventures today? (25:39) - Is there a minimum or maximum size when you’re looking for hotels to acquire or develop? (26:50) - How do you underwrite an independent hotel vs. a branded one? (30:50) - How do you think about trends? (32:51) - Do you see people getting tired of hotel brands and caring more about belonging? (36:36) - A discussion on Design (52:21) - How did you end up with a 25-room hotel in Palm Desert? (53:47) - What’s your strategy with your Bentonville, AR hotel and what do you see for the future of these smaller markets? (58:36) - What do you predict tent and RV hotel companies looking like in the near future? (1:00:00) - Do you handle the F&B side of your assets? (1:03:01) - Do you need to get into 3rd party in order to scale a management business? (1:07:00) - What do people most often miss in the hotels you’ve stayed in? (1:10:15) - Thoughts on exclusivity and scarcity (1:11:40) - When you’re coming up with a new hotel, what are some must-have elements? (1:14:55) - Are there any recent companies in the industry you find interesting? (1:18:30) - What is your favorite hotel?

John Grossman, CEO of Classic Hotels and Resorts, a mission-focused owner and operator of independent hotels on the west coast and mountain west. With hotels ranging from upscale resorts to hip roadside motels, the company is known for designing and creating those hard-to-describe moments.  In this episode we discuss: Sourcing deals & developing strategy Leading an operating team & executing on a vision Hospitality trends over the next decade Links: Classic Hotels & Resorts John Grossman on LinkedIn Manka's Inverness Lodge   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (1:51) - Introducing John & his portfolio (4:25) - What is it about leisure and independent hotels that is attractive to you? (6:10) - How have you avoided the franchising model after all these years? (7:41) - How do you approach the infrastructure of your organization? (8:29) - Why are folks who’ve come from places like Ritz Carlton and 4 Seasons a great fit for you? (10:10) - What are your criteria when you’ve found a market you like? (13:45) - How are you finding these properties when there are moratoriums on hotel doors? (17:12) - How do you plan out how each hotel will look once you’ve acquired an asset? (19:47) - How do you underwrite your deals? (25:13) - How do you think about who the guest is going to be? (27:48) - Who handles the design for your hotels? (31:28) - What are you prioritizing as you set your budget? (35:07) - What makes the best designers truly great? (38:14) - Are you prioritizing public spaces over guest room decisions? (41:33) - How are you creating “Moments” without focusing on the F&B side of the property? (44:07) - Is there a variable when you’re analyzing a new investment some would find surprising? (49:09) - Is being vertically integrated your best competitive advantage? (52:10) - How involved are you in setting the mold of the brand narrative for the designers? (55:54) - What are the big trends that you’re thinking about over the next 5 years? (1:01:49) - What is your favorite hotel?

Dupree is the Managing Partner and Chief Investment Officer of Woodbine. A fully integrated real estate investment and development firm and one of the leading hospitality owners in the country, having completed over $3.6 billion in hotel investments and developed over 11,000 keys across branded and independent projects.  On this episode, Jake and Dupree discuss: The history of Woodbine's massive success How to create moments and places where guests want to be The decision to diversify assets beyond hospitality Links: Woodbine Development Dupree on LinkedIn Hotel Emma - San Antonio Mountain Shadows Resort Scottsdale   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (2:48) - Woodbine’s history and path to success (10:06) - How have you diversified Woodbine’s capital partners? (13:18) - What led to Woodbine focusing on hospitality? (17:49) - How do you make money on a shorter time horizon when you have a partner thinking 3-4 generations down the road? (20:36) - What do you find is the most important aspect of being able to secure a deal? (23:32) - How did you get into the business? (26:05) - What’s the hardest thing stepping into the business as the second generation? (32:09) - What are some key learnings you had from your time with Trammel Crowe? (35:09) - How do you get the most bang for your buck in projects? (37:31) - Are there aspects of a project you refuse to compromise? (38:30) - How do you create a moment and a place where guests want to be? (42:12) - How did the Driscoll Hotel and Hyatt Hillcountry deals come together? (50:37) - How do you approach raising capital for deals? (54:56) - What is it about hotels that you and your investors are attracted to? (57:31) - What did the capital stack for The Driscoll look like? (1:00:27) - Do you manage the hotels yourself or do you 3rd party it? (1:03:13) - How do you align F&B with your vision? (1:04:47) - Do you have any tips or strategies for structuring F&B deals? (1:06:02) - Is it not possible to build a mega resort anymore? (1:08:15) - What do you think about 3rd party development? (1:11:22) - What criteria are you focusing on in development deals right now? (1:12:16) - Why are you diversifying your assets beyond hospitality? (1:15:53) - What do you think happens to certain assets in Office? (1:17:36) - What is your favorite Hotel?

Masters of Moments involves conversations with top entrepreneurs and business leaders about hospitality, Real Estate investing, and company building. We explore the ideas, strategies, and approaches that brought them to where they are today. This podcast is for you if you are a seasoned investor, an upstart entrepreneur, or someone looking to break into the real estate and hospitality investing world. Follow Jake on Twitter Take the Hospitality Real Estate Investing Masterclass Subscribe to the show on YouTube