Most people walk past the ugly deal. That's exactly why the ugly deal is where the money is.

In this episode, Michael Russell sits in the hot seat as a guest on the Lights On Podcast, sharing the unfiltered story behind how he acquired a rundown one-star motel in Maui during COVID and repositioned it into the number one small hostel in North America, growing annual revenue from $500K to $2.4 million in just a few years.

Co-founder of Howzit Hostels and Malama Capital, Michael has built a hospitality portfolio by finding value where others aren't looking, starting with single-family homes in the post-recession market, scaling through short-term rentals, and eventually buying a motel no one else wanted.

In this episode, you'll discover:

• Why Michael paid $800K for a property most investors would have ignored, and how seller financing made it possible
• The budgeting mistake that nearly destroyed their returns (and why going 40-50% over budget is more common than anyone admits)
• How the Lahaina fires wiped out short-term rental income overnight and what it taught him about cash reserves the hard way
• The real math on OTAs vs. direct bookings that most independent operators get wrong
• Why Michael started The Hotel Investor Playbook with zero interest in monetizing it, and what that means for the conversations he's willing to have

If you're serious about finding your first hotel deal or scaling what you've already built, this episode will save you from some expensive assumptions. The unglamorous path is usually the most profitable one.

If you found value in this episode, take 30 seconds to leave us a review here. It helps more people find the podcast and keeps us bringing on great guests.

Connect with Michael on Instagram or LinkedIn.

Email Us at info@hotelinvestorplaybook.com

Visit the Hotel Investor Playbook Instagram

Invest with Malama Capital

Submit a deal

In this episode, you'll learn how to diagnose whether your property is actually a candidate for wellness positioning, and if it is, how to implement it in a way that lifts ADR without blowing out your expense line.

A hospitality strategist who spent 20 years in hotel sales and development before building a consulting practice around wellness revenue joins us to share the playbook she's used across independent properties worldwide. Emily Johnson's approach has helped properties drive occupancy lifts and ADR increases with near-zero incremental cost by tapping into what they already have.

In this episode, you'll discover:

• The 3 questions every owner should ask before spending a dollar on wellness
• Why a Thailand beachfront property was getting crushed on rate until one strategy drove a 15% occupancy lift and $40 ADR increase in a single quarter
• The low-cost local partnership model that turns empty meeting rooms into revenue
• Why most "wellness hotels" are faking it and how guests always find out
• The pre-arrival touchpoint that nearly every hotel is missing is costing real revenue
• How a mountain property with no unique story repositioned around one experiential amenity and sold out glass-ceiling cabins at $1,000 a night

If you're an independent operator trying to compete without throwing capital at the problem, this episode will show you where to start.

If you found value in this episode, take 30 seconds to leave us a review here. It helps more people find the podcast and keeps us bringing on great guests.

Connect with Emily Johnson

Website: https://www.elevatehospitalitycollective.com

LinkedIn: https://www.linkedin.com/in/emilygoretskyjohnson/

Connect with Michael on Instagram or LinkedIn.

Email Us at info@hotelinvestorplaybook.com

Visit the Hotel Investor Playbook Instagram

Invest with Malama Capital

Submit a deal

It took zero dollars of his own money to buy a $4.5 million waterfront resort. It took three years and over a million and a half dollars out of pocket just to keep it.

In this episode, you'll discover the deal, debt, equity sequence he says has never failed to raise capital on a good deal, and exactly when a joint venture beats a syndication.

A multifamily investor who scaled to over 600 rental units, and once raised $10 million without a following or a dollar from family, walks through the one hospitality deal that broke all his usual rules. Christian Osgood unpacks exactly where his due diligence missed the mark, and the strategy he used to turn a struggling resort into a self-sustaining cash machine.

In this episode, you'll discover:

• Spot the hidden payroll problem that makes a mom-and-pop hotel's books lie to you
• Avoid the seller-financing structure that can wipe out a full year of cash flow in one payment
• Turn dead event space into guaranteed income through master leasing, fixed checks every month, with zero staffing or cleanup
• Combine a $1,000 a month ad budget with free community events to drive a 43% profit jump in twelve months
• Apply the deal, debt, equity framework before you ever start looking for investors
• Decide when a joint venture beats a syndication so you can skip the legal headaches

If you're underwriting a boutique hotel or resort deal, this conversation could save you from learning these lessons the expensive way.

If you found value in this episode, take 30 seconds to leave us a review here. It helps more people find the podcast and keeps us bringing on great guests.

Connect with Christian Osgood

Website: https://multifamilystrategy.com/

YouTube: https://www.youtube.com/@Multifamilystrategy

LinkedIn: https://www.linkedin.com/in/christian-osgood-10a95b71

Connect with Michael on Instagram or LinkedIn.

Email Us at info@hotelinvestorplaybook.com

Visit the Hotel Investor Playbook Instagram

Invest with Malama Capital

Submit a deal