Paligroup is a fully integrated branded real estate development and hospitality operating company that acquires, programs, develops, owns, and operates unique hotels and residences. Their brands, development, and operational expertise also include specialized retail spaces, highly curated restaurants, bars, and event venues. Avi Brosh founded Paligroup in 1998 and serves as its Chief Executive and President.On this episode, Jake and Avi discuss:- Avi's career in hospitality- Pali's approach to design and placemaking- How to enter new markets- How to excel at Food and BeverageLinks:Palisociety - https://www.palisociety.com/Connect & Invest with Jake:Follow Jake on Twitter: https://twitter.com/jwurzakTake the Hospitality Investing Masterclass: https://learn.jakewurzak.com/Learn How to Invest with DoveHill: https://bit.ly/3yg8PwoTopics:(00:00:00) - Intro(00:02:52) - Avi’s background and career(00:12:23) - Avi’s approach to placemaking(00:13:49) - Where do you draw inspiration?(00:16:20) - Creating a hub for both locals and transients(00:18:27) - Transitioning from residential to hospitality(00:23:38) - What were your non-negotiables when starting your own company?(00:26:41) - How are you able to maintain a fresh feel with each new project while keeping a brand theme?(00:32:26) - Walkthrough of a typical project(00:37:11) - What does it mean to have a brand?(00:41:25) - What mistakes did you make early on and what components matter?(00:48:32) - How have you been able to make good returns on your investments?(00:52:15) - What have you learned about making the operating business profitable?(00:54:55) - What’s been the hardest part about growing the brand?(00:58:54) - What do you look for in a new market?(01:04:11) - How do you find the right people to help bring these projects to life?(01:10:40) - What works in Food and Beverage?(01:17:00) - How do you decide to pivot if a restaurant isn’t working?(01:19:47) - What are you looking to get into that you aren’t already?(01:27:23) - Navigating owner/partner visions(01:31:30) - What is your favorite hotel?