Boutique Hotel Opportunity

[Brandon Ribeiro]

The trend seems to be a pivot to the boutique hotel space due to regulations, local legislation and restrictions on STR's. Would love to connect with some STR investors regarding a unique boutique hotel opportunity I have on my desk.

[John Underwood]

I've not heard of this being a trend?

I guess it could be in areas where they heavily regulate STR's.

[Matthew Barge]

@Brandon Ribeiro I'm interested, can you please email me? I'm a seasoned STR operator and have 2 boutique hotels under my belt. Curious to learn more. Thank you

[Jay Murak]

This is what we do, please pm, thanks.  

[Sarah Kensinger]

Quote from @John Underwood:

I've not heard of this being a trend?

I guess it could be in areas where they heavily regulate STR's.

Seriously, how have you missed this!

[Kristi Miller]

Where are you getting your property insurance for boutique hotels?  I'm about to close on one and can't get a policy since they want 3+ years of direct hotel management experience.  I can show 3+ years of Airbnb management, but that doesn't work for underwriters.  Thanks!

[Pete Appezzato]

Quote from @Kristi Miller:

Where are you getting your property insurance for boutique hotels?  I'm about to close on one and can't get a policy since they want 3+ years of direct hotel management experience.  I can show 3+ years of Airbnb management, but that doesn't work for underwriters.  Thanks!

 Could you find and bring someone on your team that has tons of hotel experience ?

[Sarah Kensinger]

Quote from @Kristi Miller:

Where are you getting your property insurance for boutique hotels?  I'm about to close on one and can't get a policy since they want 3+ years of direct hotel management experience.  I can show 3+ years of Airbnb management, but that doesn't work for underwriters.  Thanks!

If you haven't already, try local insurance companies. I know a number of people that did a boutique hotel after several years of STR management, and they were able to get insurance.

[Kristi Miller]

Quote from @Sarah Kensinger:

Quote from @Kristi Miller:

Where are you getting your property insurance for boutique hotels?  I'm about to close on one and can't get a policy since they want 3+ years of direct hotel management experience.  I can show 3+ years of Airbnb management, but that doesn't work for underwriters.  Thanks!

If you haven't already, try local insurance companies. I know a number of people that did a boutique hotel after several years of STR management, and they were able to get insurance.

Thanks, I tried the STR angle with a national insurance co and that weren't having it. But, I'm waiting to hear back from a local broker.

[Kristi Miller]

Quote from @Pete Appezzato:

Quote from @Kristi Miller:

Where are you getting your property insurance for boutique hotels?  I'm about to close on one and can't get a policy since they want 3+ years of direct hotel management experience.  I can show 3+ years of Airbnb management, but that doesn't work for underwriters.  Thanks!

 Could you find and bring someone on your team that has tons of hotel experience ?

 Thanks, I'm the only owner, but am keeping a W2 general manager who's been there for 3+ years.  Good point.  Thanks

[Elena Jirnova]

Hi, i might be interested to learn more. Have a few properties in PA and may sell them to reinvest in more passive stream

[Pete Appezzato]

Quote from @Kristi Miller:

Quote from @Pete Appezzato:

Quote from @Kristi Miller:

Where are you getting your property insurance for boutique hotels?  I'm about to close on one and can't get a policy since they want 3+ years of direct hotel management experience.  I can show 3+ years of Airbnb management, but that doesn't work for underwriters.  Thanks!

 Could you find and bring someone on your team that has tons of hotel experience ?

 Thanks, I'm the only owner, but am keeping a W2 general manager who's been there for 3+ years.  Good point.  Thanks

I wish you all the best and I hope it gets worked out.  Congrats!
Where is it located?