Hotel Investing Webinar REPLAY
Learning from Industry Leaders the world of hotel investing.
Last week, I had the privilege to moderate a panel of hotel industry leaders (Tracy L Prigmore, Walter Barela, Edgar Escobar and John Lancaster) who shared their insights with first time investors interested in hotel ownership.
Discover the key aspects of hotel investing and ownership with this webinar. This informative session covered key concepts all first-time investors need to know, from selecting the right brand and management company to understanding property improvement plans and financing options.
Learn about the importance of due diligence, education, and experience in making a successful investment, as well as valuable tips on managing cash reserves and protecting your assets.
Whether you're looking to invest in economy, mid-scale, extended stay, upper midscale, or luxury hotels, the webinar is a must-watch for anyone interested in the hospitality industry.
AI Generated Key Highlights
With the handy help of my two AI assistant tools, here is a summary of hotel investing considerations:
Strategically planning and conducting due diligence to find an ideal market, considering financing opportunities, market segment, building codes, and entitlements required.
Selecting a brand and management company that aligns with investment goals, has necessary support services, and understands needs.
Acquiring a property with a strong existing cash flow to avoid the uphill battle of convincing lenders to finance a new development.
Understanding the risks associated with the investment and the Full Disclosure Document (FTD), and the importance of planning for Property Improvement Plan (PIP) costs and cash reserves for deferred maintenance.
Bringing in 25-35% of cash into a deal, protecting the asset, and considering tax credit options available for hotel investors.
The webinar also emphasized the importance of education, having a mentor, and gaining experience in the industry. The panelists suggested that education should be mentor-based, offering connections with the industry network, technical components, and investors must be willing to step through some things and learn as they go.
Access: The password is: Jg8^A1RY
Is now the time to buy? I don’t give advice, but for my own investments, I’m in a holding pattern. Rates are still rising, and sellers’ expectations have not fallen yet. I’m still looking at a few investment asset classes including hospitality, for sure. Searching for sellers who are looking for good buyers with solid leadership values and are reasonable on expected prices is where I’m spending some of my time on.
Patience, research, and having soldiers on the sidelines ready to deploy is a strategy worth considering during these new times we are in.
Research & Reading
Warren Buffet’s annual letter was released last week. It’s shorter than prior years. It’s a good read, especially in changing markets.
I loved when he said: “Our CEO will always be the Chief Risk Officer -a task that is irresponsible to delegate.”
To me this perfectly aligns with the message of the webinar, the principles we teach in the Wealth Program at Embrace Any Future and the investment principles I prescribe.
No investment is passive. All require work.
Enjoy his letter, it’s an annual past time I look forward to personally.
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