Some Hotel Guy Profile
Some Hotel Guy

@somehotelguy

18,864
Followers
518
Following
743
Media
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Statuses

Hotel acq & dev. Focus on hotels, restaurants, real estate, business, economy, and history. And sports. Views 100% my own. DMs open

Joined August 2020
Don't wanna be here? Send us removal request.
Pinned Tweet
@somehotelguy
Some Hotel Guy
3 years
A new pinned tweet! Links below to a glossary of terms (will be updated on an ongoing basis), my bio thread, and whatever else feels right
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@somehotelguy
Some Hotel Guy
3 years
1/56 SomeHotelGuy’s take on Sonder. Quick disclaimer – I have nothing to do with Sonder, I’m not particularly smart, and I’m in no way a securities analyst. This isn’t investment advice.
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@somehotelguy
Some Hotel Guy
3 years
1/35 Ok, so by popular request, a quick desktop look at this potential hotel redevelopment found by @harrisonfinberg . I'm skipping some steps that either don't lend themselves to narrative or are the artistic flourish of underwriting.
@harrisonfinberg
Harrison Finberg
3 years
Pretty much a sure way to go broke but I’m so tempted to become an Atlantic City boutique hotel guy
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@somehotelguy
Some Hotel Guy
3 years
Going to walk you all through my back-of-napkin on a currently listed property, thanks to our friend @moseskagan ! The Property: A 27-room motor lodge in LA’s Thai Town listed for sale for a whopping $11.28MM ($418K per key). The Harvard House Hotel at 5251 Hollywood Blvd.
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@somehotelguy
Some Hotel Guy
2 years
@jamiequint @Jauny @VCBrags @justinkan @robinchan Did you just try to get someone fired for responding to one of your tweets?
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@somehotelguy
Some Hotel Guy
3 years
Going to kick of #HotelTwit with a running glossary of terms. I’ll keep adding as we go, and keep pinned on my profile. If you have requests for add’l terms, just drop ‘em in the thread!
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@somehotelguy
Some Hotel Guy
3 years
Anybody else find that the minute you’re about to go on vacation every single deal suddenly goes from cold to hot? And does this mean I should be planning way more vacations?
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@somehotelguy
Some Hotel Guy
7 months
Someone sent me a signed doc back today With changes they’d made Without disclosing them or sending a redline 12 hours later and I’m still furious
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@somehotelguy
Some Hotel Guy
3 years
@Keith_Wasserman If you like adjusting rents, have I got an asset class for you!!
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@somehotelguy
Some Hotel Guy
4 years
A small bio: I’ve been involved in over $1B of hotel real estate deals, and probably underwritten at least 2x. Been on this side of the biz for ~10 years. TONS of people smarter than me doing this every day. Hoping my posts will drive discussion, and that I learn something too
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@somehotelguy
Some Hotel Guy
3 years
We lose deals to other pros every day who have cheaper capital, a more optimistic view of the asset / market, a business plan angle we missed, a higher tolerance for brain damage on that asset, or are just itchier to buy. Sometimes we’re glad we lost, sometimes we feel dumb 🤷‍♂️
@realEstateTrent
StripMallGuy
3 years
I’m a professional real estate buyer. If I pass on a deal, and you buy it, you better see something I missed.
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@somehotelguy
Some Hotel Guy
4 years
1/ If you’re looking to build (or buy) a hotel, you’ll need to project revenues for at least 5 years from opening. Here’s how I do it. First - look at local competitors and determine the most comparable hotels.
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@somehotelguy
Some Hotel Guy
3 years
It’s @somehotelguy ’s first New Development thread, “On Guestrooms and Guestroom Bathrooms”: First an apology – I don’t have a library of floorplans I can post from like @bobbyfijan , so this won’t be anywhere near as informative or cool as his threads.
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@somehotelguy
Some Hotel Guy
3 years
Everybody - if I did a bunch of threads on hotel specific new development, what would you want to see? I’d be able to speak from the investor and brand perspective, not from the architect, GC, PM, or any of those actual smart people perspectives
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@somehotelguy
Some Hotel Guy
3 years
To all my hotel operators out there: Push rate. Do it.
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@somehotelguy
Some Hotel Guy
3 years
The hubris on #retwit and #smbtwit sometimes still catches me amazed… I promise - being good at one thing in one industry doesn’t make you good at everything
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@somehotelguy
Some Hotel Guy
3 years
Next up in the #HotelTwit series is an intro to the P+L! Every operating co has their own format, so I’ll show you a representative example (with no #s ) and also an example of how I like to look at it (with fake #s )
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@somehotelguy
Some Hotel Guy
3 years
Pass. It’s priced like a development site, and that’s likely the best outcome for it. This exact same deal in Beverly Hills, WeHo, or even DTLA (well, maybe)? My DMs are open, and I pay good commissions...
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@somehotelguy
Some Hotel Guy
3 years
Accrual based accounting stinks. That is all, please carry on
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@somehotelguy
Some Hotel Guy
4 years
So, been putting together a list of hotel-investment-specific tweets (mostly acquisition or asset management focused), as well as a list of hotels I love. Planning a few tweets a day starting Monday. Any requests? Should I do some “hotel underwriting for beginners” stuff too?
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@somehotelguy
Some Hotel Guy
3 years
Buying a hotel? Don’t buy the receivables. You’re a hotelier, not a collections agency
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@somehotelguy
Some Hotel Guy
4 years
1/ Since #RETwit has been abuzz w/ Cost Segmentation, I thought I’d talk about Revenue Segmentation in hotels... exciting, right? I’ll tie into acquisition underwriting at the end. MONSTER THREAD AHEAD! Hotels segment rooms revenues by type of reservation.
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@somehotelguy
Some Hotel Guy
3 years
Been way behind on my tweeting lately… sorry! Real life got in the way (albeit in very good, happy ways). Promise to come out with 🔥🔥🔥 starting Jan 1
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@somehotelguy
Some Hotel Guy
3 years
This could be a long thread, but I’ll keep it brief. I: - can’t do mental math - consistently struggle w/ impostor syndrome, despite knowing intellectually that I’m not faking it (usually) - need to force myself to follow up / “just calling to say hi”; it doesn’t come naturally
@realEstateTrent
StripMallGuy
3 years
Many of us are guilty of sharing only the wins and strengths. Share a weakness or failure. Me: New-hire screening.
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@somehotelguy
Some Hotel Guy
2 years
We at the point yet where a couple of you want to buy it and make me CEO? I promise to make all decisions on Twitter… would be funny…
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@somehotelguy
Some Hotel Guy
1 year
Dropped off my daughter for her first ever day of daycare, and boy did that hit like a punch in the nose
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@somehotelguy
Some Hotel Guy
3 years
As I get ready to ramp up the #HotelTwit content, I’d love to post more desktop acquisition analysis Any brokers willing to step up and submit deals? I’ll gladly anonymize the property & round numbers so it’s not easily identifiable If it’s a good deal, I may be your buyer!
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@somehotelguy
Some Hotel Guy
3 years
I’ve owed you all the next benchmarking thread for a while… here we go!
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@somehotelguy
Some Hotel Guy
1 year
A reason I love hotels: On the phone with a corporate Vice President who got his start as a housekeeper We’re an industry where true mobility is still available to folks who want to build a career
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@somehotelguy
Some Hotel Guy
6 months
From the ‘died in DD’ files: Looking at a Resi Inn, and trying to figure out what the Lease Expense is, since whole thing is fee simple Get to digging in & turns out all the guest room kitchen equipment was being leased by the property from an entity controlled by the GP
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@somehotelguy
Some Hotel Guy
3 years
Got a few hours to kill on a flight tomorrow. What do you all want to see a thread on, hotel-investment-related? Also, seem to have hit 2K followers, and wow. Still amazed you find any of this interesting at all. Thank you!!
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@somehotelguy
Some Hotel Guy
2 years
A deal dying and reviving 3 times in one day is a heck of a way to feel alive…
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@somehotelguy
Some Hotel Guy
10 months
To all those in the hospitality business taking care of other folks families this week - thank you
@somehotelguy
Some Hotel Guy
11 months
I’m thankful for a great many people, but given this account… I’m truly thankful for the folks out there taking care of other people’s families today Your kindness, hospitality, and hard work make the world a better place Thank You
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@somehotelguy
Some Hotel Guy
3 years
Ok #HotelTwit , let’s talk benchmarking! We’ll look at each department from the Summary P+L and talk about how we compare it to like hotels, and why. This’ll get us to be able to do a “quick & dirty” proforma, which we’ll do for a real hotel next week
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@somehotelguy
Some Hotel Guy
2 years
On a plane drinking a beer, listening to the 2/18/71 Grateful Dead show at the Capitol Theater in Port Chester, NY, and doing old NYT crossword puzzles AMA 🤷‍♂️
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@somehotelguy
Some Hotel Guy
3 years
30 year old suburban full service hotels
@girdley
Michael Girdley
3 years
Real estate is super hot. NFTs are hotter. What asset classes AREN’T in favor right now?
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@somehotelguy
Some Hotel Guy
4 years
1/ Breaking into any new industry, the jargon can be the hardest part. So... Let’s talk hotel classifications for you budding hoteliers out there! There are a lot of terms that get used to describe hotels within the industry, and while some have fixed definitions others don’t.
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@somehotelguy
Some Hotel Guy
3 years
Sitting in the airport drinking a beer and reading some public / private ground leases. Try not to be too jealous…
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@somehotelguy
Some Hotel Guy
2 years
Kid’s napping so peeked at LoopNet and - holy f*ck - people actually buy these deals?!?! $114K / key for dirt - dirt - on which a Comfort Inn is approved to be built? A Comfort f*cking Inn?!?!
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@somehotelguy
Some Hotel Guy
2 years
Something great about “end of a 3 cities week” airport beers solo
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@somehotelguy
Some Hotel Guy
3 years
How should you select a third-party management company for your hotel? A (hopefully useful) thread:
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@somehotelguy
Some Hotel Guy
11 months
I’m thankful for a great many people, but given this account… I’m truly thankful for the folks out there taking care of other people’s families today Your kindness, hospitality, and hard work make the world a better place Thank You
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@somehotelguy
Some Hotel Guy
3 years
Sitting at a bar next to a date where a 40+ year old man spent 10 solid mins talking about his youth hockey experience (“I’ll never forget, in 8th grade…”) and that was one of the less stupid monologues. The literal height of comedy. I’m DYING
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@somehotelguy
Some Hotel Guy
3 years
This is the absolute best
@SWatsonTV
Stephen Watson
3 years
I asked @Giannis_An34 if Oreos and milk are on the Thanksgiving menu. His response was 2 minutes long. "From now on, that's an every night snack for me."
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@somehotelguy
Some Hotel Guy
11 months
As one of the OGs (Original Guys), I’d just like to say, for the record: If anyone wants to send me $$ based on the (mostly dumb) things I’ve posted DM for wiring instructions
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@somehotelguy
Some Hotel Guy
3 years
1/ So, how are hotel management agreements structured? Caveat – this is based on my experience, which tends towards the more institutional assets; if you’re looking at doing a 30-room inn, this may not apply.
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@somehotelguy
Some Hotel Guy
3 years
Sitting down with @realEstateTrent today was amazing. I have literally never met someone more knowledgeable about retail, and I learned an absolute ton. Also, super nice guy!!!
@realEstateTrent
StripMallGuy
3 years
Met @somehotelguy this morning for coffee. He knows the ins and outs of the hotel industry like the back of his hand. Even ran a full analysis of one of our sites in his head without even a calculator. Brilliant real estate mind, and a good dude.
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@somehotelguy
Some Hotel Guy
3 years
Sometimes it feels like 1/3 of my job is placating other people’s egos in order to get things accomplished
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@somehotelguy
Some Hotel Guy
3 years
Got a reminder this morning that Time Kills All Deals, and figured I’d pass it along…
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@somehotelguy
Some Hotel Guy
3 years
Anybody else remain endlessly confused by brokerage titles? I just saw 4 Vice Chairmen listed on a single OM…
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@somehotelguy
Some Hotel Guy
3 years
Even when it’s unseasonably warm, the city is really pretty this time of year…
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@somehotelguy
Some Hotel Guy
6 months
I do not enjoy watching, or playing, golf
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@somehotelguy
Some Hotel Guy
4 years
Hearing that lender appraisal work on hotels is picking up. That would lead me to believe the heretofore unrealized “wave of foreclosures” may actually happen. No more “extend and pretend” if you actually know the value of the asset
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@somehotelguy
Some Hotel Guy
1 year
On a plane, so who wants to talk hotels? Acquisitions, development, asset management, operations… …let it fly and I’ll reply
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@somehotelguy
Some Hotel Guy
3 years
Ok, seriously, I think my Monday may involve a quote thread eviscerating the Sonder investor presentation.
@somehotelguy
Some Hotel Guy
3 years
@EllliotttB A good comp may be Courtyard. In 2019, there were 717 mature, franchised CYs in the US. They did an average RevPAR of $101.30. Average size is something around 125 keys. That’s $3.3B in Rooms Rev. I think Sounder’s all rooms. So, Sonder is gonna be bigger than CY by 2025?
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@somehotelguy
Some Hotel Guy
3 years
Haven’t talked much about new development to this point, but it’s been a big part of my career. Was thinking I’d run through some hotel specific new dev topics over the next few weeks… here’s what I’ve got so far, & I’d love suggestions! I’ll probably reup this a few times also
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@somehotelguy
Some Hotel Guy
3 years
Can we all agree that if you post it publicly on LinkedIn, it’s not “off market”?!
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@somehotelguy
Some Hotel Guy
3 years
If you’ll recall, you heard it here first!
@WSJmarkets
WSJ Markets
3 years
Bond investor Pimco is pursuing higher yields by acquiring hotels and office buildings, as the Covid-19 pandemic reduces property values
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@somehotelguy
Some Hotel Guy
3 years
When working a hotel acquisition, talk to as many people as your confi will allow! Not just the broker, but the analyst the broker has putting the package together. Talk to the GM when you tour, asking a ton of Q’s. etc...
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@somehotelguy
Some Hotel Guy
3 years
19 days out of 20, I love hotels. That 20th day? I wonder why I’m not just buying the fee securing ground leases…
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@somehotelguy
Some Hotel Guy
2 years
@CREbrokerSoCal I’m one of those principals. Have had at least half a dozen occasions where I was already talking directly to the owner of that “off market” property, and dozens where I got the same “off market” property sent by 3+ brokers in the same week
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@somehotelguy
Some Hotel Guy
4 years
1/20 EXPENSE UNDERWRITING PART II: If a deal passes muster with a purely ratio based analysis, I move on to a more detailed expense underwrite.
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@somehotelguy
Some Hotel Guy
3 years
@danjmcnamara
Daniel McNamara
3 years
#CMBX 6 Hotel Valuation Cut By 65% Gansevoort Park Ave received a two year modification and a new appraisal of $98mm, down from $278mm in 2012. The Hotel backs $124mm of #CMBS debt split between CGCMT 2012-GC8 and GSMS 2012-GCJ9. DSCR hasn’t been above 1.0 since 2015. @TreppWire
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@somehotelguy
Some Hotel Guy
3 years
1/ On Market Diligence: I go as deep as I can, albeit not right away.
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@somehotelguy
Some Hotel Guy
3 years
34/ The minute you need to fix an elevator, replace a chiller, or redo a bathroom? There goes the budget. Moral of the story? This is a @RaphaelKahan $1 special unless you can create a PROFITABLE restaurant operation or actually pull a $150 RevPAR (Occ x ADR).
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@somehotelguy
Some Hotel Guy
11 months
Business Transient is slowly but steadily climbing back See it in our data, and based on earnings for the c-corps and REITs, they’re seeing it too 🤞🤞🤞
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@somehotelguy
Some Hotel Guy
4 years
1/8 On Due Diligence - a multi day thread: When pursuing a new hotel acquisition with a capital partner, I do my best to identify and box in risks as part of a rigorous due diligence process.
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@somehotelguy
Some Hotel Guy
1 year
“Some people dabble in fine art. Others in cocaine. You should NOT dabble in hotels” If you were in the same room as me when that was said yesterday, shoot me a DM 😂
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@somehotelguy
Some Hotel Guy
4 years
Just wrapped up with @fortworthchris - it was an honor and a delight to join him, and I promise I’ll be better next time! We had a great conversation about the hotel industry, and I tried not to talk my book too much. Hope you all enjoy it & subscribe to Chris’s podcast!!
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@somehotelguy
Some Hotel Guy
2 years
A small tip for non-specialist CRE brokers marketing hotels… We go by property name, not address I have no clue off the top of my head what “700 5th Ave” is, but I damn sure know The Peninsula (not the hotel that precipitated the tweet; it was much more “middle of nowhere”)
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@somehotelguy
Some Hotel Guy
10 months
Should I buy a bowling alley?
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@somehotelguy
Some Hotel Guy
11 months
Ok, some thoughts on the drama: 1. Very glad nobody got scammed (I think?) 2. Would be so much funnier if someone got scammed 3. “it’s all media, you’re all selling something” is nihilistic BS 4. B/c of 3, I’m out on this guy 5. Nobody’s asked for wiring instructions yet 😢
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@somehotelguy
Some Hotel Guy
3 years
Having one of those “less operationally intense real estate sounds pretty great…” kind of days
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@somehotelguy
Some Hotel Guy
2 years
The just completed Americas Lodging Investment Summit (ALIS), in a single tweet: Operating Fundamentals? 🥰 Debt Availability? 🥴 Transaction Markets? 🤢 How I Feel? 😴
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@somehotelguy
Some Hotel Guy
4 years
Worked in an office for the first time since early March. It was amazing. Felt safe, was productive, and best of all - wasn’t lonely! Looking forward to doing it again tomorrow
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@somehotelguy
Some Hotel Guy
3 years
A heartfelt “thank you” to the service workers - (selfishly) especially to hoteliers on property today - working on this holiday You sacrifice your holiday to care for others, and for that I am truly thankful
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@somehotelguy
Some Hotel Guy
4 years
Shed a few tears reading this. Many will remember him as a great strategic leader. I’ll remember him as warm, kind, and human - very rare qualities in people generally, let alone major corp CEOs. My thoughts are with his family and friends.
@DeItaone
*Walter Bloomberg
4 years
*Marriott Intl Announces the Unexpected Passing of Arne M. Sorenson, Pres and CEO $MAR
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@somehotelguy
Some Hotel Guy
2 years
Just left a meeting where I was on the wrong side of “do you want to be right or do you want to make money” and I’m pretty damn pissed at myself… didn’t realize it until after I’d done it, and normally I know better
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@somehotelguy
Some Hotel Guy
3 years
Your periodic reminder that being good at / smart about one thing does not make you so about everything Intellectual humility is something I learned as I aged, & is something a whole lot of #ReTwit / #SMBTwit / #FinTwit would do well to remember 22 year old me was insufferable
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@somehotelguy
Some Hotel Guy
1 year
When we underwrite a new acquisition, one area our analysts often under-think is Exit - a pretty damn important area to total returns! What do I find they often miss? The Buyer’s business plan
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@somehotelguy
Some Hotel Guy
3 years
@GoodGuyGuaranty @iononrecourse @jmccart10 @InnocenceCapit1 @BillBrewsterTBB It amazes me, but I think Luger’s burger is wildly underrated. Never makes the “NYC top burger” list but is damn close to perfect. If you’re down for a gluttonous afternoon, get it as an appetizer for a steak
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@somehotelguy
Some Hotel Guy
3 years
Ok, a couple thoughts coming out of the NYU Hospitality Investment Conference. Only actually reflecting as I type, so let’s see how this goes 🤷‍♂️
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@somehotelguy
Some Hotel Guy
3 years
Hotels are small (and sometimes large) operating businesses with an underlying real estate component. Our operating SOPs and people are our lifeblood
@fortworthchris
Chris Powers
3 years
As someone in real estate, I'm always blown away when I see a hotel executing on all levels. So many workers, so many processes, so many details. It's pretty remarkable when done right. It's good to see hotels rocking and rolling again. Cheers to the hotel industry.
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@somehotelguy
Some Hotel Guy
3 years
Make sure to read vendor contracts - all of them - every time you buy a hotel. 95% of the time there’s nothing to worry about, but 5% you’ll see some weird / crazy / deal-changing stuff!
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@somehotelguy
Some Hotel Guy
11 months
One of the many reasons why the hospitality business is so wonderful!!
@PriteshSMB
Pritesh | Independent Hotelier
11 months
America has over 100,000 hotels and motels. My family owns 2 of them. They came here with nothing, now they are millionaires. How did they do it? Worked like dogs for 22 YEARS. Lived modestly. Never racked up credit card debt. Understood that leasing a car is great way to
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@somehotelguy
Some Hotel Guy
4 years
1/20 So, let’s talk about franchise agreements! First, a bit on the structure of the vast majority of the hotel industry in the US.
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@somehotelguy
Some Hotel Guy
7 months
An update: I politely explained that we would not be doing business on those - or any other - terms, and wished them well
@somehotelguy
Some Hotel Guy
7 months
Someone sent me a signed doc back today With changes they’d made Without disclosing them or sending a redline 12 hours later and I’m still furious
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@somehotelguy
Some Hotel Guy
8 months
Ok - gonna get back into the posting game. Got a few ideas lined up, but want to hear from you: What do you want to hear about when it comes to hotel acquisitions / development / operations? Also; on a plane and baby is sleeping, so for an indeterminate period, AMA about hotels
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@somehotelguy
Some Hotel Guy
3 years
When buying a hotel, don’t skimp on the Property Conditions Report &, if possible, tour w/ someone from your manager’s engineering department. Finding physical issues in DD helps you make an informed decision whether or not to move forward & impacts your biz plan meaningfully
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@somehotelguy
Some Hotel Guy
3 years
Quick take: Been a weird recovery - both top down (luxury leisure) & bottom up (economy & midscale, aka Wyndham). This RevPAR beat shows ppl who must travel are, smaller co’s are, etc When small co’s hustle, big must respond. Corp travel will be back. Long hotels, baby, yeah!
@CameronSperance
Cameron Sperance
3 years
BREAKING: @WyndhamHotels reports Q4 profit of $48 million, but the real win is its revenue per available room (industry's key performance metric): U.S. RevPAR exceeded pre-pandemic levels by 8%, Global RevPAR fully recovered in Q4 and was at 97% for all of 2021.
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@somehotelguy
Some Hotel Guy
3 years
Multi developers - please do lots of these!! And old properties with big guest rooms and wide hallways! Signed, A guy who believes the hotel market is under demolished rather than over built
@ZackDStreit
Zachary Streit
3 years
Like the hotel to multi conversion space a lot. We are currently working on equity and debt for 4 of these deals ($200MM+ total capitalization). Big things to think about are entitlements and conversion costs. via @triadbizjournal
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@somehotelguy
Some Hotel Guy
3 years
We generally invest from discretionary funds but will occasionally pitch others on our deals; institutional capital partners as LPs or institutional owners for us to act as a 3rd party operator (lenders are a whole other ballgame).   These are the deals in which I learn the most.
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@somehotelguy
Some Hotel Guy
2 years
I better start working on new content… looks like this place is gonna be around for a while
@MikeSington
Mike Sington
2 years
Scott Galloway, Professor NYU, predicts the entire Twitter site will collapse within the next week.
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@somehotelguy
Some Hotel Guy
3 years
Just opened an OM with 11 brokers listed… yikes
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@somehotelguy
Some Hotel Guy
3 years
Next up in the @somehotelguy series on new development… Facilities Programming!! As always, stream of consciousness (a.k.a., long). Here we’ll talk about an incredibly iterative process – how you figure out just what you should build when you’re looking at a hotel site.
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@somehotelguy
Some Hotel Guy
3 years
I don’t typically tweet about my life, being an anon account and all, but… #ProudDad
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@somehotelguy
Some Hotel Guy
1 year
Got pitched on investing in a Forbes 5-diamond level hotel development stabilizing at 50%+ NOI margins that “will be valued at [$2.5MM/key] upon stabilization” As you might expect, I’m somewhat skeptical…
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@somehotelguy
Some Hotel Guy
2 years
Waiting for the best bacon, egg, and cheese in the city… thanks @dhmeyer !!
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@somehotelguy
Some Hotel Guy
4 years
To kick off Condo-Hotel weekend, let’s start with a short thread to answer the question: “WTF is a Condo-Hotel”?
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@somehotelguy
Some Hotel Guy
3 years
Heard this one today… union operated hotel in a high ADR leisure market (not luxury product either) asking a 5.2% cap on 2019. For the leasehold interest. For the leasehold interest.
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