How to Impact Culture
Culture impacts your business more than you want to admit. It sets the tone for daily employee activity and resonates through every stakeholder interaction. Many hotel owners and managers believe that they can shape culture through new policies and procedures, but...
Boost Your Deal Sourcing Productivity with These 5 Strategies
Deal sourcing is usually the hardest part of real estate investing. It takes patience, discipline, creativity, and relationship savvy. Naturally, this is the stage that separates the wheat from the chaff. That said, most budding real estate investors, particularly...
Partnerships Are Not 50/50
Business was slow, my neighbor’s leaky pipes flooded my house, and my wife was on an expedition to explain some mysterious pains. I thought I hit rock bottom. I was at 10% capacity in every part of my life… except my marriage. I had no choice but to be the 90% partner...
Resort Fees Must Be Regulated, a Game Theory Argument
Resort fees are in the news again, as Congress looks to apply pressure on hotel companies to stop the growing trend. Pressure alone won’t force a change, though. Resort fees must be regulated to prohibit the practice. Nobody likes resort fees, even many hotel...3 Easy Ways to Become a Hotel Investor
Hotel investing is a simple business. It’s the execution that is difficult. More than likely, you already have all the tools you need to start investing in hotels. Real estate investing principles are very similar across asset classes. The major shift is in...
CoStar Acquiring STR is a Gamechanger for the Hotel Industry
CoStar Group, a commercial real estate data company, announced its acquisition of Smith Travel Research (STR) for $450 million last night. This is a gamechanger for the hotel industry in so many ways. Very few companies can claim revolutionary status in an industry as...
How to Find Capital when Buying a Hotel
Buying a hotel involves balancing many priorities, and how to find capital is the one that usually haunts your dreams. Hotel deals come together when an acquisition opportunity receives financing. The timing of when that financing comes into play depends on where it...
Remove These 5 Phrases from Your Vocabulary Today
Vocabulary is the window to your soul. It allows others to see your genius, and it defines how you perceive the world outside your mind. Early influencers, like parents, teachers, and bosses, gave you the vocabulary you use today. However, you have a choice about...
