From $50 in His Bank Account to a 140-Key Hotel in Italy | Emanuele Pani E83

What happens when you find a deal that could change everything, but you've drained your bank account just to close it?In this episode, you'll hear exactly how one operator went from cleaning parking lots to owning the building, and what that journey taught him about risk, focus, and building a business that doesn't need you in it every day.A vertically integrated hospitality operator who built an 84-door portfolio across two countries and is now pursuing a 140-key historic hotel in Sardinia, Italy, joins us to share how he thinks about scaling from short-term rentals into boutique hotels. Emanuele Pani's path from maintenance guy to multi-market operator is full of hard-won lessons most investors learn too late.In this episode, you'll discover:Why STR investors drastically under-budget when they buy their first hotel (and what it actually costs)How to find off-market deals by doing something most investors won'tThe capital stack strategy for financing a hotel deal in Europe as a U.S.-based investorWhy the first hire matters more than the first system when scaling operationsThe shiny object mistake that slowed his growth for 4 years and how to avoid itHow to structure a hybrid hotel and residence model to reduce acquisition riskIf you're serious about making the leap from short-term rentals into boutique hotels, this episode will save you from the most expensive assumptions investors make on their first deal. Don't skip the part about what breaks first when you try to scale.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 Emanuele Pani:Instagram: @epani.mindsetLinkedIn: https://www.linkedin.com/in/emanuele-pani-0b2970105/Connect with Michael on Instagram or LinkedIn.Email Us at [email protected] the Hotel Investor Playbook InstagramInvest with Malama CapitalSubmit a deal