Have you ever thought about owning your own hotel or investing in one? The probable answer is no because most of us don’t even think it’s a possibility…
The Dreamer this week is, Davonne Reaves, at 35 years old, she’s co-owner of 3 hotels under a major chain. Davonne is on a mission to democratize hotel ownership, and in this episode, she breaks down how to raise capital and how to become a hotel owner for us.
Davonne believes in asking yourself the right questions if you are interested in investing or owning a hotel.
- What types of hotels do you want to invest in or buy?
- What kind of hotel brands should you pursue?
- How much funds do you have available to invest?
While it’s important that your investment strategy is aligned with your current reality, you shouldn’t let the lack of knowledge prevent you from accessing other avenues of wealth-building. Expand your mind as an investor when it comes to what’s possible by listening to Davonne.
In this episode, Davonne discusses:
- How she built a $20 million hotel portfolio with her partners
- Why every investor should have an ownership thesis
- Unconventional ways to raise capital
- Different ways to fund your investment in hotels
- Partnering with financial advisors to raise capital
- The experts you should have on your team
- The importance of doing your due diligence
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Dreamers’ Wealth of Wisdom:
- Get someone who’s an expert in that field, especially an expert who’s done it a couple of times and they can guide you through it. So it’s not the blind leading the blind. — Davonne Reaves
- When investing, you wanna do your due diligence. You wanna do your homework. — Davonne Reaves
- As an (African American) community, we have a mindset of a hotel consumer instead of a hotel owner. — Davonne Reaves
- Once I become more focused, that’s when my career and my portfolio have grown significantly. I would never have thought in a million years I’d be where I am now. And I just scratched the surface. — Davonne Reaves
Mentioned on the Show:
About the Guest:
Travel trailblazer and hospitality enthusiast Davonne Reaves is an award-winning hotel consultant and asset manager, who on her own path to hotel ownership, is fiercely dedicated to empowering underrepresented communities on opportunities unlocked through investment in the hospitality industry.
As founder and chief hospitality strategist behind Atlanta-based hospitality firm, The Vonne Group, Reaves capitalizes on her more than 14 years of experience in the lodging industry, to teach African Americans how to become hotel investors and owners.