Ep 208 - Buying Your First Boutique Hotel with Kim Herrlein

Kim Herrlein, a seasoned professional in the luxury STR space, shares her journey from managing high-end short-term rentals to acquiring and transforming boutique hotels. Listeners will learn about the unique challenges and rewards of venturing into the boutique hotel market. Topics include the importance of admitting gaps in knowledge, designing bold and eclectic spaces, dealing with booking platforms, and fostering effective team collaboration. Kim’s fearless, community-driven approach and her focus on creating unique, curated experiences offer valuable insights for anyone interested in hospitality or real estate investment. 00:00 Overcoming the Fear of Learning 00:11 Introducing Kim Herrlein: From STRs to Boutique Hotels 02:00 Kim's Journey into Real Estate 05:12 First STR Project: Transforming a Home for Large Groups 10:21 Mindset and Overcoming Fear in Real Estate 20:17 Scaling Up: From STRs to Boutique Hotels 25:12 Revitalizing the Community 27:30 Designing a Boutique Hotel 28:32 Challenges in Renovation 32:20 Operational Differences: STRs vs. Boutique Hotels 35:19 Tech Stack and Online Presence 43:11 Marketing and Group Buyouts 46:15 Final Thoughts and Success Tips Kim Herrlein's Bio Kim Herrlein is the Chief Leisure Officer at Purveyors of Leisure, a boutique vacation rental management company in Greater Palm Springs, Southern California. Kim’s interest in travel began at a young age when she was fortunate enough to spend holidays abroad in Europe, traveling with extended family and friends, temporarily residing at unique vacation rentals; such as a magical poolside villa in the south of France, an enchanting Tuscan castle and vineyard, or an artsy Swiss chalet. Her love of travel, art and architecture, and design was ignited and more poignantly, a simple joy was sparked, gathering with loved ones on vacation was fun! Connect with Kim https://linktr.ee/purveyorsofleisure https://www.faintingcouch.com https://www.facebook.com/The.FaintingCouchHotel/ https://www.instagram.com/the.faintingcouch/ Connect with the Hosts Michael Sjogren: Short Term Rental Secrets Facebook Group | Clubhouse | Instagram | Youtube | Facebook Page | Linkedin https://linktr.ee/mikesjogren Emanuele Pani: Clubhouse | Instagram | Facebook | Linkedin Learn more about your ad choices. Visit megaphone.fm/adchoices