Ep 226 - Want to Get a Hotel? Listen to this first.
Want to go from STRs to boutique hotels this year?In this episode you’ll discover:● The simple math behind boutique hotels and why they’re an absolute game changer● The real reason STR investors have a massive leg up with boutique hotels● How to finally 10x your portfolio and finally unblock scale with boutique hotels.Register for the Boutique Hotel TrainingLink: hotels.strsecrets.com02:55 - Why Hotels Are a Game-Changer for STR Investors04:40 - Overcoming Regulation Challenges in STRs06:10 - Unlocking Economies of Scale in Hotel Investments08:30 - Forced Appreciation: The Key to Wealth Building10:00 - Reducing Competition by Targeting the Right Deals12:00 - Establishing Revenue Thresholds for Hotel Success14:30 - Avoiding the Trap of Buying a Job16:20 - Creating Operational Systems for Boutique Hotels18:00 - Building the Right Team for Hotel Operations20:15 - Mastering Leadership and Scaling Efficiently22:00 - Leveraging Partnerships to Expand Quickly24:45 - Realistic Budgeting and Expense Ratios for Hotels26:30 - Understanding Renovation Timelines and Costs28:15 - Are You Ready to Make the Jump to Hotels?30:40 - Key Lessons for Transitioning from STRs to Hotels32:10 - The Importance of Experienced Partners34:00 - Leadership Skills Needed for Larger Hospitality Projects36:00 - Avoiding Common Pitfalls in Hotel Investments38:30 - Setting Realistic Expectations for Hotel Operations40:00 - Final Advice: Embracing Challenges and Achieving Growth