Purchasing a Hotel as a Business

Transcript

Andrew and Jessica welcome the experts to discuss the hotel business industry. Robert Cunio, CBI, CBB, MBA, President of Transworld Business Advisors, San Diego Central and Dev Motwani who serves as President and CEO of Merrimac Ventures, a Fort Lauderdale based real estate firm that focuses on value-add investment and development opportunities. Property types owned and operated include hotels, condos, retail, office, and rental apartments primarily in South Florida but also throughout the United States.

In this awesome episode you will hear about the current situation regarding the hotel industry, how to start in it, the process of seeking the right valuation, and the difference between the real estate and the operating business, as well as listening to Dev Motwani’s amazing life story filled with hard work, perseverance, and success as he shares it in his conversation with Andrew.

Listing of the week: Tom Milana, two bed and breakfasts, great retirement projects, one in Italy, 12 rooms, world-famous restaurant. Located two hrs. north of Rome, two hrs. south of Florence, hilltop. Price: $3 million. The second bed and breakfast is in Cadiz, Spain, apartment hotel in the old section of the city, seven suites, and a first-class restaurant Price: $3.4 million. Email Tom at [email protected] or call 561-702-6967

Key Takeaways

[5:53] Robert Cunio (San Diego Central Office).
[6:04] The hotel market currently.
[7:15] First-time buyers in the hotel industry.
[8:37] Advice to buyers: Get the proper valuation.
[11:15] Deal of the week: Bill Kleinschrodt (Mobile) Motel, real estate, and business, Total $400,000 ($375,000 real estate and $25,000 for the business).
[15:16] Dev Motwani talks about his family story in the motel/hotel business.
[17:45] The hotel and real estate business today.
[20:50] Dev Motwani ’s education and professional career.
[23:30] Advice for small business people: Understand the business from the ground level.
[24:30] A hotel is an operating business, not only real estate.
[25:15] What is going on now for the hotel industry.
[27:51] Building a Four Seasons in Fort Lauderdale.
[28:28] Hilton Hotel and Gale Boutique hotel in Fort Lauderdale.
[31:36] Listing of the week: Tom Milana, two bed and breakfasts, one in Italy 12 rooms, world-famous restaurant, hilltop. Price: $3 million. The second is in Cadiz, Spain, apartment hotel in the old section of the city, seven suites, and a first-class restaurant Price: $3.4 million.

Mentioned in This Episode

• United Franchise Group
• Transworld Business Advisors
• Transworld on Linkedin
• Transworld on Facebook
• Call us
• Email us
• Call Robert Cunio
• or contact him here