Today’s guest has more than 14 years of experience in the lodging industry. She also has a passion for people and pineapples. Davonne Reaves is Founder/Hospitality Strategist at The Vonne Group. She is also the author of How To Buy A Hotel - Roadmap to Hotel Ownership. Davonne joins host Dan Ryan to talk about her journey in hospitality and what it all means to her.
Takeaways:
- Owning a hotel requires a lot of work, you have to keep up with the land and raise capital and hire staff among many other things.
- When starting your own business, you want to start small and work your way up to becoming a bigger company.
- When looking at buying a hotel, you want to know the surrounding community and have them feel comfortable with you.
- People are what make the hospitality industry so special and unique, most people will stay at a hotel for the human connection and interaction.
- You need to know your purpose, if you don’t have a clear purpose for your business that it will not last.
- Knowing how to invest the right money into the right places for buying a hotel can help you to financially be all set.
- There will always be people who don’t believe in your dream or help you along the way, so it’s important to have thick skin and move past it.
Quote of the Show:
18:52 “You could automate the hospitality industry as much as you possibly can, it's the people, it's even some people who would prefer to stay in a hotel over an Airbnb, just because of the human connection and that human interaction.”
Links:
Shout Outs:
3:50 ACS
4:05 Hyatt
4:42 Jessica Meyers
31:30 Shannon Steel
31:45 Dr. Mina James
31:58 Andre Arbrieten
57:35 Skift
57:39 Highgate
57:41 JLL
58:43 Swiss Hotel
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