Boutique Hotel Investing Explained | Rich Somers

Rich Somers, an exceptional podcast host, joins Ryan for an intriguing discussion on the world of boutique hotels.
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Boutique hotels, defined as those with 100 units or fewer and not affiliated with major commercial brands, present a blue ocean opportunity. They explore marketing strategies, weighing the pros and cons of listing hotel suites on Airbnb versus other advertising options.

The conversation also touches upon the rise of diverse restaurants owned by the same individuals, offering distinct culinary experiences that millennials love to share on social media. Rich shares insights into managing a beachfront hotel with dynamic pricing based on seasonal variations.

Rich's journey began as a car salesman while attending college full-time, and later, he transitioned to become an air traffic controller. However, his real estate investment journey began when he cashed out his 401(k) to purchase his first 11-unit property in Cincinnati. He emphasizes the challenges of financing boutique hotels due to market volatility compared to other real estate investments.

Podcasting has allowed Rich to network with industry experts, build a strong audience, and connect with guests such as Liver King and Grant Cardone, who are passionate about their messages.

Rich and Ryan stress

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