John Grossman, CEO of Classic Hotels and Resorts, a mission-focused owner and operator of independent hotels on the west coast and mountain west. With hotels ranging from upscale resorts to hip roadside motels, the company is known for designing and creating those hard-to-describe moments.  In this episode we discuss: Sourcing deals & developing strategy Leading an operating team & executing on a vision Hospitality trends over the next decade Links: Classic Hotels & Resorts John Grossman on LinkedIn Manka's Inverness Lodge   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (1:51) - Introducing John & his portfolio (4:25) - What is it about leisure and independent hotels that is attractive to you? (6:10) - How have you avoided the franchising model after all these years? (7:41) - How do you approach the infrastructure of your organization? (8:29) - Why are folks who’ve come from places like Ritz Carlton and 4 Seasons a great fit for you? (10:10) - What are your criteria when you’ve found a market you like? (13:45) - How are you finding these properties when there are moratoriums on hotel doors? (17:12) - How do you plan out how each hotel will look once you’ve acquired an asset? (19:47) - How do you underwrite your deals? (25:13) - How do you think about who the guest is going to be? (27:48) - Who handles the design for your hotels? (31:28) - What are you prioritizing as you set your budget? (35:07) - What makes the best designers truly great? (38:14) - Are you prioritizing public spaces over guest room decisions? (41:33) - How are you creating “Moments” without focusing on the F&B side of the property? (44:07) - Is there a variable when you’re analyzing a new investment some would find surprising? (49:09) - Is being vertically integrated your best competitive advantage? (52:10) - How involved are you in setting the mold of the brand narrative for the designers? (55:54) - What are the big trends that you’re thinking about over the next 5 years? (1:01:49) - What is your favorite hotel?