All of our clients are “Innovators”. An Innovator is a disruptor who enters a business and basically turns it upside down and creates a success.
They basically have been in another business and had the desire to develop or own something in the Hospitality field. Hotels and Restaurant are truly operating business’s. My clients all had a beginning in Law, Real Estate, Residential Development or conversions, Shopping Center Development, Cemetary & Mortuary Business, Banking and Restaurant & Catering.
All of these individuals brought their disciplines to the development or operations of a hotel or restaurant. Each one had the discipline to listen to a professional consultant, a designer, an architect, a marketing consultant and other professionals. They listened but brought out their own ideas and concepts and created something better.
The hotel industry is usually a franchised business. The main franchise companies are Hilton, Marriott and Holiday Inn. The banks will generally not finance a hotel without a franchise. We had a project that was going to be a franchised hotel. The Owner developer indicated that he thought it would work as a Boutique Hotel. We brought in a consultant and the consultant said it was worth the effort. The savings in today’s dollars is over $1,000,000 per year. The bankers did not want to finance the construction of the hotel but finally provided a 60% loan to cost. A local bank provided the difference. That owner brought concepts and ideas to the Hotel that made a difference.
Another client has taken a restaurant that was failing or had all ready failed, changed the concept and within one year has made a big success out of someone’s failure. It took new ideas, lots of thinking and coming up with a creative solution that worked. It also required some infusion of equity.
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