Description

Evan Addams is a technology entrepreneur that has led a diverse portfolio of hospitality and healthcare tech startup companies. In addition to that, he has founded a direct-to-consumer coffee company, invested in various types of real estate, and recently started owning and operating a bed & breakfast group, CarriageWay Bed & Breakfast. 

Today's episode features Evan as he discusses how bed and breakfasts can provide meaningful experiences for guests and how technology can be used to deepen relationships. We talk about our personal experiences visiting different bed and breakfasts around the world and how they've enriched our lives. We also delve into how other industries could benefit from the cross-pollination that bed and breakfasts provide. Evan also shares his thoughts on how investing in a bed and breakfast has helped him connect with people in a unique way, while also providing economic stability in challenging times.

[00:00 - 08:40] Real Estate Investing for the Young and New

• Evan Addams is involved in the real estate industry in a variety of ways, including owning and operating a bed and breakfast
• Evan's passion is to make an impact on communities, which is why he invested in a mixed use building that would be used for community purposes

[08:41 - 17:20] How Evan and His Wife Built a Bed and Breakfast Empire

• Evan and his wife are a team
• 10 years of traveling allowed them to get to know a local community and have a unique experience compared to staying at a big box hotel
• We've also explored renting out second homes

[17:20 - 25:52] Bed and Breakfast Owner Uses Technology to Deepen Relationship with Guests

• Evan has seen a rise in guests due to the pandemic of loneliness
• Evan's Bed and Breakfast business can help combat the pandemic of loneliness by providing a hands-on experience, curated experiences, and investing into technology to deepen relationships with their guests

[25:52 - 34:45] Bed and Breakfast Owners Struggle to Keep Prices Competitive

• B and Bs are trying to adapt to the touchless experience by creating community spaces and enhancing their checkout process
• The key to success for B and Bs is to focus on long-term relationships with their guests and keep prices competitive

[34:46 - 42:51] B and B Keeps Prices Low Amidst Recession

• The B&B industry is experiencing a recession, and Evan recommends pricing to be in line with the market rate instead of 200 in order to keep cover costs
• Evan takes on The Lightning Round
• Tips for Impactful Real Estate Investing

Quotes:

"When we think hospitable, we're not talking about just great decor Instagram worthy. We're talking about cleanliness. We're talking about thoughtfulness. We're talking about a space that allows somebody to feel safe and confident to break out of isolation or some version of social distancing." - Evan Addams

"You can take lessons from customer success of how your favorite tech company might interact with you." - Evan Addams