Defining Hospitality

DH - Nathan St Cyr
===

[00:00:00] What I do is inconsequential. Why I do what I do is I get to shorten people's journeys every day. What I love about our hospitality industry is that it's our mission to make people feel cared for while on their journeys. Together we'll explore what hospitality means in the built environment, in business, and in our daily lives.

I'm Dan Ryan, and this is Defining Hospitality.

This podcast is sponsored by Berman Fall Hospitality Group, a design-driven furniture manufacturer who specializes in custom case goods and seating for hotel guest rooms.

dan-ryan_55_04-03-2025_150818: Today's guest is an expert in sales and creating wealth for investors. He's the co-host of the Hotel Investor Playbook podcast, where he and his business partner discuss owning and operating boutique hospitality properties. He's the co-owner of House It Hostels, which won the 2024 award for number one, small hostile in North America.

He's the co-founder of Malama Capital. Ladies and gentlemen, [00:01:00] Nathan St. Cyr. Welcome, Nathan.

nathan_1_04-03-2025_090818: Aloha. It's great

dan-ryan_55_04-03-2025_150818: Uh oh.

nathan_1_04-03-2025_090818: on.

dan-ryan_55_04-03-2025_150818: I'm so sorry. I should have said Aloha and Mahalo for being on. Um, thank you for becoming part of the defining hospitality ohana. How's that?

nathan_1_04-03-2025_090818: Oh, I love it. I love it. I'm, I'm pumped to be a part of the, oh.

dan-ryan_55_04-03-2025_150818: Oh, good. Um, so I want everyone to know I just met Nathan recently, but before we actually met, um, virtually I. He was blowing up all my, not intentionally, like he just came up in all my feeds, the hotel investor playbook and all this. And I was like, wow, you're really good at that. And then he reached out and I was, and it was all, you were already in the back of my mind and I was like, oh, let's connect the dots here.

I'd love to learn more about what you have going on and like what you've created. And it's so cool that, um, I haven't stayed, hostels are not really for me, but they are for a really strong and passionate demographic about [00:02:00] hostels who, um, they used to be for me, but not anymore. 'cause I have children and I'm old and I need privacy.

Um, but I'm not your target demographic.

nathan_1_04-03-2025_090818: will share with you that we are aligned with that hostels are not for me either. Um, as I have, uh, a 12 and, uh, 15 going on 16-year-old and a wife. And, and so, uh, you're right. They, they're, they're, I actually stayed in my first host about two months ago, uh,

no.

of, in our hostel on the big island.

Uh, and I did it. We were, we were over there at the asset and creating some content, and I'm like, you know what? just, I'm, I'm solo. I'm not with the family. I'm just, I'm gonna do it. I'm gonna stay in the, stay in a private room in the hostel. So I have stayed in a hostel for one night.

dan-ryan_55_04-03-2025_150818: Okay, well you know what? I'm gonna challenge you. You gotta go and stay in like the group room for a night, and I want to hear about that one. We'll do a follow up podcast, but I, I, when I was in high school, um, in traveling through Europe or [00:03:00] I was biking, cycling through Europe, I stayed at a lot of hostels and they were great.

We got to meet a lot of people and from all over the world, and I love that. Um, it's awesome. And to be the number one best small hospital in America, that's quite an achievement. You, and we'll get into this a little bit more, but listeners, uh, Nathan also shared with me that, and this is really surprising, there's only 309 hostels.

That's crazy to me. Um, but before we get into all the hostile stuff and the, uh, investor playbook, uh, hotel investor playbook, what do you, what does hospitality mean to you? How do you define it?

nathan_1_04-03-2025_090818: it's the intentional execution of the six human emotional needs and in fulfilling those six human emotional needs, creating the feeling of happiness, joy, and awe.

dan-ryan_55_04-03-2025_150818: Ooh,

nathan_1_04-03-2025_090818: To.

dan-ryan_55_04-03-2025_150818: happiness, joy and awe. Okay, so now I'm [00:04:00] gonna put you on the spot. Like, just give us the six needs. What are they?

nathan_1_04-03-2025_090818: Okay, so the six human emotional needs, uh, you have variety, right? We all need that, that constant variety in our life, that flavor of experience, right? But we also need the opposite of that, which is security certainty. We need to be able to be depend on things and know that we're safe and that we're secure, and then connection, right?

We love and connection. We, we need that human element of being connected to, to others is, is critical. And then significance. We, we all need to feel like we matter, like we matter to, to others, and that we are significant. And then there's two that we would call more of the, spiritual emotional needs, um, which are contribution.

So giving and contributing more than [00:05:00] just our own selfish needs, but actually contributing and then growth. Um, not being stagnant, but being able to, as we walk through this journey of life, uh, growing. So, so those, six human emotional needs all of us have within us. Um, and they can be, they're, they're dominant in different ways and everyone, everyone has a different map.

Different things are more important to other people. Uh, but when you understand that these are. Deeply their, their needs. It's not human emotional wants. It's human emotional needs. And so when you can go and dive into those and fulfill those, and you fulfill the most important, the things that are most important to people, the ones that are dominant within people, you're gonna leave them with a feeling of, man, was, man, I, I'm, I am, this is as happy as I can be.

Like,

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: filled with joy, or I am in absolute [00:06:00] awe in this moment. And is, that's, that's what we're looking for. what we want.

dan-ryan_55_04-03-2025_150818: When I think about like. This podcast is a passion project for me. I only spend, I don't know, between two and three hours a week doing it. Um, but it brings me such tremendous happiness, joy, and awe. And the awe comes from, mostly from everyone that I'm talking to. 'cause I always get to learn something and sharing it with all of our listeners.

And if I look at it, there's tremendous variety in all the guests that come on. Um, there's certainty in that I have a great producer and all I have to do is show up for this part and like, I don't have to deal with the editing and all that other stuff. So, but it's like clockwork. It goes off every week.

Like I can plan my life around it. I try and interview people on Fridays. Um, there's significance because maybe not at first, but there's gr it turned into [00:07:00] being more significant because I. People within our industry listen to it. I get feedback all the time. I get inbound requests all the time. I get asked to speak at events.

It's opened up so many doors and it's become this like significant thing and contribution. I feel like I, by all the people I talk to, I'm contributing and impacting others. And there's that sense of building community and like I say, shortening other people's journeys through education and growth. Um, I'm helping the listeners grow, but also myself, selfishly, every one of these I get out of it.

And I know I'm supposed to be interviewing you here, but um, it's really interesting to look at, this is the favorite part of my week and I think it's because it checks all six of those boxes. Um, and that's pretty awesome. Where did you first learn about these six human emotional needs?

nathan_1_04-03-2025_090818: Yeah. Tony Robs, yeah,

dan-ryan_55_04-03-2025_150818: Oh.

nathan_1_04-03-2025_090818: years ago over. Yeah. Must have. It's [00:08:00] actually over 20 years ago, I went to unleash the power within.

dan-ryan_55_04-03-2025_150818: Holy shit.

nathan_1_04-03-2025_090818: And it, know, there's a, there was a huge focus point on this mapping, and it starts with understanding ourselves, but then I recognized, well, it, all of us are wired this way.

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: whatever I do in life that if you can really focus on, on the understanding of delivering this and fulfilling this for people, uh, you're, you're, you're gonna have an impact.

dan-ryan_55_04-03-2025_150818: Wow. Um, it's so interesting. I don't know, like I've been an entrepreneur since I was, I don't know, 26. I started my first company and um, probably somewhere about 14 or 15 years ago, I went to and unleash the power within. It was like right after the global financial crisis I went with. Uh, my best friend Mike, and we're like, let's just go try 'cause like nothing else is [00:09:00] happening.

And it was what I loved about it. Some people may see it as like, um, a cult or a guru or whatever, but it's just, I, I look at it as like this, it gave me this incredible set of tools that I didn't have in my toolkit and, and self-realization. But for me, it was the first time I'd ever spent like three days just like looking inward at myself and having like actual exercises and a framework to like dig into those things, to help uncover a lot of this.

And it set me off on this path of, which ultimately led to us speaking right now, but going, joining Entrepreneurs organization and being involved in forums and go and, I don't know, just all of this learning, uh, doing this entrepreneurial master's program and interviewing people and being on, uh, leadership teams and writing.

And I think it, if I go back. It was really that. So anyone listening, I would definitely, I have no skin in the game here, but just like check it out. I think he's [00:10:00] doing a tour right now of unleash the power within. How did you find it? 20 years ago.

nathan_1_04-03-2025_090818: Yeah, so I was a, a sales leader and my company sent me, and so I had won something and, um, for winning that I. I got like an elevated status where I was like, diamond lead or some, some crazy thing, right? But it was awesome 'cause I got to shake his hand. I was in like the front row and I was

dan-ryan_55_04-03-2025_150818: Oh wow.

nathan_1_04-03-2025_090818: I gotta shake his hand. And that hand was like massive, nothing fricking wrapped around me like I was nothing. Um, but, but look, I I, takeaways that was, that was a pivotal moment in, in my life. It really was. And, and some of the things that you just said just brought back, I was just, you know, filling me, you know, a huge takeaway from that was that 80% of success is based on mindset and 20% is based on then strategy, [00:11:00] all of that stuff, right?

The, the how. But if when I go and look around me, what I see is I. The flip of that, most people are spending 80%, at least of their time, figuring out the how and, and they're, they're not focusing on mindset part. And when you really look at that 80% mindset, people go, well, what does that really mean?

Like, well, mindset. And I think that there's two components to mindset that are critical. And the first one is state, right? Your physiological state. And, and that that comes from this. You have to be Intentional in putting yourself in the highest and best state consistently.

dan-ryan_55_04-03-2025_150818: Do you know what's interesting? I, I've actually forgotten all of this, but it like you're having a flood back. It's coming back. The other thing I learned is that no matter how you're feeling at any point, whether you're up or down, but [00:12:00] if typically if you're feeling down or just lethargic or depressed or sad, there's always a way to change your state, either through breathing or I don't.

He did these power move things, which I totally forgot about, but you can like shock yourself into changing your state immediately, which can get you out of anything. It can be going for a run or anything. And then that was a real surprise to me, and now I've just, I haven't thought about that in 15 years because I think it's just become a part of who I am, that I always have this trigger that I can change my sake

nathan_1_04-03-2025_090818: Yeah. Well, most people don't, and most people let, and what that is, hap what's happening is your state is based on your thoughts.

dan-ryan_55_04-03-2025_150818: And

nathan_1_04-03-2025_090818: if you really look at it right,

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: when what you just talked about is all of the feelings, but the feelings of, uh, depressed, down, sad, those feelings directly, they're the barometer for what's going on in your mind. What are the thoughts? what people don't realize is who controls the thoughts?

dan-ryan_55_04-03-2025_150818: [00:13:00] We do.

nathan_1_04-03-2025_090818: That's the dis you,

you, you do, you can, but if you don't have that discipline, you're no longer the driver. You're no longer in the driver's seat of your mind. 'cause your mind's gonna think no matter what, whether you're taking control of your mind or not, the thing's gonna go. And so what happens is when you are not disciplined in controlling the thought,

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: thoughts are just gonna go. And a lot of those tapes that run, they're gonna be the ones with self-doubt and with fear. And they're in the future and they're all of these things. But when you can recognize and create disciplines around being the, the gatekeeper of those thoughts and saying, no way, man, I'm gonna be in the driver's seat.

I'm gonna sit in the driver's seat of my mind and make sure that the thoughts that I have are aligned with ultimately what I want.

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: and it's so it look, it's simple in. in just talking about, it's much more difficult to create those disciplines,

dan-ryan_55_04-03-2025_150818: Yeah.[00:14:00]

nathan_1_04-03-2025_090818: but that's

dan-ryan_55_04-03-2025_150818: Well, I feel like I walked away with tools to develop and focus on those. You know what's interesting though is, uh, and thinking about this is so crazy, but like thinking about those feelings that are not, when you're not in your best state, right? So you're down, depressed or you're, it's your intuition, right?

nathan_1_04-03-2025_090818: Yep.

dan-ryan_55_04-03-2025_150818: There's ways to change it, but I've also found that there was a time there when I would just ignore all of that, right? And just push on and like go, go, go. But even though those things are there, I don't think it's. I don't think you want to get rid of them. Totally. 'cause I think that intuition also is a good gut check to just be check in with and be like, okay, what is my body or intellect or emotional self telling me that maybe I'm not listening, that I'm just powering through right now?

And I think it took me a while to, like, I push those down a lot and then I'm like, okay, those do serve a purpose and I do need to check in with them every now and again.

nathan_1_04-03-2025_090818: I think that that's gaining clarity,

dan-ryan_55_04-03-2025_150818: yeah.

nathan_1_04-03-2025_090818: I think it's important to recognize and gain [00:15:00] clarity, but at the end of the day, is it, is it fear? What, what, what is it? What is it really that if you can then figure out, okay, well cool, this is what it is. So is that real? Is it something that I have to solve? Is it not? But to reframe what's happening and, and usually the emotions that we feel are are secondary anyway, Oh, I'm angry. Well, no, I'm not angry. I'm sad. Anger is the way that I'm feeling it, it comes out in, in, in anger. So yeah, I, I mean, the bottom line is I could, I could, we, I could spend days, um, you know, diving into this and then the disciplines in my life that I've, I've forth so that I continue to focus on 80% of it being this mindset.

Um, the other part of that, aside from just your, your state right, is your beliefs. And I, what I recognized coming out of that is that [00:16:00] beliefs are, they're really a, they're a choice. Like you can, sometimes we don't even realize that we believe something, but then the thing that's so powerful about a belief, it is your strongest form of thought. And we have the ability, if we, if there's a, we wanna get somewhere, we have to ask our ourself, do my beliefs align with that? And if not, then it's cool. I can just, I can make a change there. Because belief is the powerhouse belief is the thing that's gonna create the highest level of manifestation in our lives. Our lives.

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: it's really critical that, that we put, um, intentional focus into, um, our, our beliefs. They're the, they're the powerhouse behind us. And that, that we're able to connect with our subconscious mind and make sure that our subconscious mind understands that this is, this is our belief.

dan-ryan_55_04-03-2025_150818: I also think beliefs and ideas are the most powerful weapons in the world, right? If you look at what starts [00:17:00] wars, it's beliefs, right? It's, and then once everyone coalesces behind those beliefs, like it's a clash of civilizations. It's insane. Um, wow. Okay. So. So you didn't, you weren't born thinking about how, how can I make the number one hostile in the country?

Right. So how through all of this discovery and being in those, I don't know, within those six, um, intentions, um, how did you discover that, oh, this is what I need to do. I want to do this hostile. You have one successful and now you're growing and scaling and doing more and raising money for others. How did you find, figure out that you wanted to be in the hospitality business?

nathan_1_04-03-2025_090818: Well, I could say that it was luck. Um, a lot of people would maybe say that, but uh, the reality is this wasn't a plan. we happened, my business partner and [00:18:00] I happened upon. Opportunity. And I really, I really, when I look back, I see that our entire life's work of preparation of operating with championship mindset, being creative outside the box thinkers, um, having a lifetime of investing in different, different real estate assets, uh, that it set us up to recognize something in the moment.

And, uh, my business partner and I, uh, we were colleagues for over seven years. I recruited him onto our sales team. I was a sales leader and we worked together.

dan-ryan_55_04-03-2025_150818: And what kind of business was it?

nathan_1_04-03-2025_090818: we sold timeshare.

dan-ryan_55_04-03-2025_150818: Okay, so it was in ho you were in the hospitality space

nathan_1_04-03-2025_090818: Yeah.

dan-ryan_55_04-03-2025_150818: as far Okay.

nathan_1_04-03-2025_090818: and I'll share with you a little bit about that sales experience first, so that you understand what my drive has

dan-ryan_55_04-03-2025_150818: Mm-hmm.

nathan_1_04-03-2025_090818: this hospitality is so important to me. Number one, if I'm gonna sell something, I have to believe in it, like from the depth of me. that's a [00:19:00] critical piece to be passionate about it. And, when I was growing up, I grew up, I was raised by a single mom. We just, we didn't have, you know, we grew up without. And so when I look back, I remember the feelings of number one, not having, I remember standing in, we had to, it was so stupid back then, man.

They stand, they made me stand in a separate lunch ticket line to get my lunch tickets because I was on reduced pricing lunch tickets. And

dan-ryan_55_04-03-2025_150818: like the, the spotlight of shame at a young age.

nathan_1_04-03-2025_090818: And you actually, then they gave you a different colored ticket. So everybody would hand in their pink

dan-ryan_55_04-03-2025_150818: Oh,

nathan_1_04-03-2025_090818: and mine was blue.

And it was like, you know, when you stood in the line, you had to give 'em your ticket. And,

dan-ryan_55_04-03-2025_150818: yeah.

nathan_1_04-03-2025_090818: and so I hated Mondays because I had to go and get my stand in that stupid line where there were only like two of us. The other line was. So it was just, yeah, I, I was really impacted, you know, as a, as a, as a kid financially, number one. But then number [00:20:00] two, going back, like after summer break and the teachers would say, all right, let's write an essay on what you did for the summer. And it was just, you know, just, it, it hurt that kids would be like, we did this and we did this, and we did this, and, and, and those were all experiences. They were out there experiencing the world.

And it was like, well, I, I went to sports camp, you know, I got put in this camp and that camp and, um, but then God bless my mom. She did everything in her life to make sure that I was gaining experiences. Like she put me in a boys choir, right? And then we went and traveled Europe. She, when she went, she was, when she went to have any sort of work, travel, I. Everybody loved my mom, and they would be like, look, if you want to bring your son, um, you can, you can bring him with you. We'll cover the cost. And so we'd go out to the east coast or we'd go to Chicago where they had, um, printing presses that she did project management for. So I was gaining these little experiences through [00:21:00] her. Um, and then the most memorable experience I had was, um, she took us, she worked for two years. She got written up in like Red Week Magazine for this.

dan-ryan_55_04-03-2025_150818: Hmm,

nathan_1_04-03-2025_090818: took on a, uh, a, a second job as a waitress. Took her two years. She earned enough tips to where, uh, she took us to Disney World. And I mean that. That experience of staying at that resort that had arcades.

Like I got to, I got to go to the arcade and, and spend some money on, on games and, and then to go to Disney World and, and see my mom and my sister with tears in their eyes as we were going through the, it's a small world, little, it's a small, that

little ride, you know,

dan-ryan_55_04-03-2025_150818: I love that

one.

nathan_1_04-03-2025_090818: And then I found shark's teeth on the beach in, in Sarasota, and it was like, just, I remember everything.

Like, I remember the way I felt. I remember what it was like, I remember I felt special. And so I had this impact of two [00:22:00] ways. Number one, what those, those few experience felt like, and then also what it felt like to not have those experiences and, and, and see other people experiencing the world. And so that it really deeply impacted my, my life as I move forward.

So I had the opportunity to go into sales and then to be able to actually sell vacation plans to people, it, it was just a. It was a perfect, perfect fit. Hospitality and experiences meant more to me than anything. And so, so that's really where my journey in hospitality started. It's where then I also started to recognize, um, that my leadership skills were my greatest skillset.

And that within leadership, that finding who's not how was the most important piece. So I started building teams and shaping the, the type of character and the type of, the type of grit and that all, all of the alignment of values that mattered. And when, when I [00:23:00] found those, right, who's that, that we were really unstoppable. that's where I met my business partner and we worked together for, you know, over seven years. He actually became a leader under me. So we were, we, we just knew each other, but we also knew that we had very um, uh. Complimentary skill sets. I was more of the visionary and the leader and the team builder.

And he was very, very oriented, process oriented. He'd already had a background of, um, buying and selling businesses. He had, he had a, a different, uh, different focuses than I had, but we both had a passion for real estate and we wanted to do something big together. And so, um, we had been taking, uh, he went off into the short-term rental world here on Maui and created two unbelievable properties, but then restrictions, regulations, they all, they, they, we, he recognized he couldn't scale that here in the islands. And, um, we wanted to do something big together. So we took [00:24:00] an apartment building, a multi-family educational course. Uh, we wanted to be able to leverage from an investment side. I. Commercial real estate. and and so, you know, we both had this, these values of generational wealth, time freedom, financial freedom, and we had a passion for real estate. So we went off onto this venture and the first property that we called on, we were at, we, we were at work, we went into the back office and we're like, all right, here's an apartment building, let's call on it. we called and the real estate agent said, oh man, I'm, I'm really sorry, that just went under contract today.

So we, we can't show that one. But in the comments this first apartment building that we looked at, it said, previously being run as a hostel,

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: and we're like, we asked the question, well, what, Hey, what does this mean? And the real estate agent picked up on [00:25:00] our like, curiosity. He started, even though we didn't even get to look at this property, he started sending us all of this information on hostels. the, he picked up on that. My business partner recognized that the margins in hospitality, in his short-term rest, uh, rentals were so dramatically superior to what long-term rentals were or what really the apartment buildings were gonna be.

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: And so this thought process for us of, is there a way to combine of short-term rental, but with this hostile idea?

And the reason that the it this was so important is because hotels on Maui, there hasn't been a hotel sold on Maui in the past decade for under $25 million. So hotels weren't even, it wasn't even a thought for us, all of a sudden this opportunity to say, wait, can we combine hospitality? Which we both had a passion for [00:26:00] margins. This unique business model of hostiles.

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: that started the deep dive for us into what is a hostile and is this something that we think is, uh, is, is viable?

dan-ryan_55_04-03-2025_150818: So in the, in the realm of commercial real estate, you know, you might have industrial on one side. Maybe office kind of over there, multifamily and then hospitality's, like usually on the other side from a risk perspective, right? They're much riskier. You have to show much higher returns. Um, but then that risk often is balanced out by people saying, oh, well it's kind of a hedge against inflation in my overall portfolio.

'cause you can reset the leases every, every day if you wanted to. Um, what, how do you model out a hostile from if you're raising money? Um, what kind of returns do you perform [00:27:00] out for your investors? I.

nathan_1_04-03-2025_090818: Yeah, so when we look at, when we look at properties, when we underwrite properties, now the beginning we, you know, we just bootstrapped everything. But really when we look at a hospitality asset, we look at, okay, for in our underwriting, the first thing we start with is, does it deliver based on our value add concept?

In a a seven year term, does it deliver a plus IRR? Does it deliver a 9% plus cash on cash return with an 8% plus preferred? Return for our investors and does it have a 2.5 to three times multiplier in that seven to 10 years? And if it hits those, we know,

dan-ryan_55_04-03-2025_150818: It is all of the above.

nathan_1_04-03-2025_090818: it. Yeah. If it

dan-ryan_55_04-03-2025_150818: Okay?

nathan_1_04-03-2025_090818: of the above, that's, that's, that's the goal

dan-ryan_55_04-03-2025_150818: Mm-hmm.

nathan_1_04-03-2025_090818: And if it, if it [00:28:00] hits those, and we're very, very conservative in our underwriting, you know, if we look at, you know, if, if we look at what we've done to date it, it's, it's, it's almost, it's almost difficult for people to wrap their minds around. Um, and, and look, we've, we, we've done very well. But, we, we go back to when we purchased our first hostel here on Maui and we called it our prototype.

That was our goal. Our goal was to develop the prototype. 'cause we wanted to build a hostile brand. And we, we purchased this host for this building for $821,000. Our budgeted, NOI for 2025 is $800,000.

dan-ryan_55_04-03-2025_150818: Whoa, back up the truck.

nathan_1_04-03-2025_090818: so, so when you look at that that doesn't happen in multifamily anymore.

dan-ryan_55_04-03-2025_150818: Right?

nathan_1_04-03-2025_090818: found is that there's these very similar fundamentals, [00:29:00] but because of the business, like you talked about, hospitality is a business and because it's a business, you have way more levers that you get to pull within that business than you would with just a, a traditional commercial asset.

dan-ryan_55_04-03-2025_150818: But you can also say, you know, these are the hospi, the people who are against. Investing in hospitality, it's, oh, it's too risky. There's too many levers, it's too complicated. Um, I don't know. What do you say to those, those folks?

nathan_1_04-03-2025_090818: Totally fair. Uh, yeah, absolutely, totally fair. At the same time, when we underwrite, we, we don't underwrite right with what's our best case scenario. We, we always look at what's our worst case scenario. So we had a plan with this, okay, well what if this doesn't go right? What if this doesn't go as well?

Then what do we do? What is a secondary plan with this asset?

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: could we do? So the first goal for us always [00:30:00] 100% of the time, is do we not lose money? So we go into it with a plan of how do you not lose money first? And then from there, look, we've had to navigate, you know, we've had to navigate we've had to navigate the Maui wildfires.

We've had to, you know, we've, we've, we're, we're, we've been tested.

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: That's, for sure. And so that's, but there is, is upside. And,

dan-ryan_55_04-03-2025_150818: And.

nathan_1_04-03-2025_090818: not just upside, but let's just say all things were created equally. Let's just, for a moment, forget upside. Let's just say that you've got these three assets and one of them is hospitality and they all deliver whatever, 15% IRRs, 8% cash on cash.

What, whatever. Let's just say that they're all the same. The other side of this is what we're doing. What we're doing is we're creating a. What [00:31:00] I view as the most valuable thing in any of our lives and investors want. This feels so good when you go and look at our Instagram page, right? When you go to Howzit hostel's Instagram page, and you look at what you know, if you look at our, our target demographic or our avatar, you know, color, whatever, 20 to 30 year olds, that's our target.

That's 80% of them. When you look at the experiences that they're stacking in their life, number one, our investors are either gonna align with that time in their life or go, man, that's what I wish I would've done. And either way, it's so fulfilling to be invested in because it feels good. I mean, look, I can, money can go wherever my money can go, but to have my money in something that is like unbelievable, that feels like I'm affecting people and in the most important way.

Hey, everybody. We've been doing this [00:32:00] podcast for over three years now, and one of the themes that consistently comes up is sustainability, and I'm just really proud to announce that our sponsor, Berman Fall Hospitality Group is the first within our hospitality industry to switch to sustainable and recyclable packaging, eliminating the use of styrofoam.

Please check out their impact page in the show notes for more info.

dan-ryan_55_04-03-2025_150818: Yeah, I just, I just, as you were talking, I went on the Instagram and it's just as you're saying it, and I think back to, um, the joy and the awe and the. Everyone is smile. There's like, it's a lot of smiles in there. Um, as you approach each project. So you're building, you're basically, now you're building these communities, the, these hostile communities for a really tight demographic that I'm not a part of.

Um, and you're not a part of either. Um, how, how do you structure it as far as, um, is it a fund that you're raising for multiple or do you treat each one [00:33:00] as its own, uh, entity and LLC and have your gp and then you raise LPs as well? Um, I'm, I'm curious for twofold, because you know, many people, they have this dream of doing hospitality like me and or having a hotel or an inn or something.

But, um, the capital is often a barrier, right? So how, how do you treat each project and raise it?

nathan_1_04-03-2025_090818: Yeah, so when we look at, look up until this point, we've bootstrapped everything now on this next project that we're entered into will be a syndication. It'll be a single asset syndication. Proof of con concept for us is really critical, number one. And then number two though, we're we've, we have a passion for hospitality not our hostile hospitality is. Set up for a specific demographic, but not everybody falls in that demographic. [00:34:00] in today's world are so valued, so there fundamentally, there are similarities between what we're doing and experiential stays, unique stays. We were invited to the Unique Stays Summit. and, and there's, there's unbelievable opportunity in, in that, that asset section of hospitality boutique hotels, being able to, there is a, very, very unique timing that we've never seen before.

Right. I, um, people talk about it all the time. The silver tsunami, right? The, the baby boomers are retiring and it's gonna be the largest transfer of

dan-ryan_55_04-03-2025_150818: and dying

nathan_1_04-03-2025_090818: and dying, but at the biggest transfer of wealth in the history

dan-ryan_55_04-03-2025_150818: of the world.

nathan_1_04-03-2025_090818: of the world,

dan-ryan_55_04-03-2025_150818: It's crazy. I was just, actually, I was on a hike, um, yesterday or the day before with my dogs and a buddy, and he's, he's starting a business to, um, a new buddy, but he was telling me he's starting a business to help [00:35:00] people on the receiving end of that greatest transfer of wealth in the history of the world.

Um, and it's pretty exciting, you think, um, about what's possible. I don't think we've really, or I'm sure economists have thought about it, but like I, what do you see in what, what do you think is an outcome of that greatest transfer of wealth in the history of the world? I.

nathan_1_04-03-2025_090818: Well, I, I can be specific about what we're seeing right now in hospitality. What we're seeing right now in hospitality is that a lot of these independent hotels hosts, I. That they're, they're independently owned. There's, there's a big sector of 'em, and those owners kind of think of 'em more as like a, a mom and pop owner that have been involved in the business, that have been running the business, and, and they're, they're ready to move on. lot of these assets are not, they need to be brought into today's

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: the way that they're being marketed, the way that they're being [00:36:00] run, the way that they're physically look.

dan-ryan_55_04-03-2025_150818: yeah.

nathan_1_04-03-2025_090818: need, they need love and attention and, and what this is doing is providing opportunity to create value add experiences where we can take the asset and then understand that today's world also focuses more on experiences. so there's a, there's a space here that fits between the branded hotels. The commodity commodity hotels that really sits in this experiential opportunity and to be able to, to help an owner that currently wants to move on with their life. a lot of times they don't, they don't know what to do with the money either.

They're like, okay, well, we have this, we would like to move on and have freedom, but we don't really have a plan with the money. And it opens up awesome opportunities for things like seller financing and it helps minimize their capital gains. And there's, there's just, there's an [00:37:00] unbelievable opportunity in this.

We really, it's, it's almost early adopter and we're, we're starting to see it a lot more. Look, we have the hotel investor playbook. We're teaching people how to, how to really invest, and whether it's passively or whether it's somebody actually wants to do this, but this, this transfer of wealth is happening.

It's happening right now, and it hasn't been tapped into before.

dan-ryan_55_04-03-2025_150818: Love it. And then, okay, so let's talk about the hotel investor playbook. 'cause I think that's where you kind of creeped into my psyche. 'cause I get a lot of emails. Um, and just in my social media, I guess. 'cause what I'm looking at and how I post for this podcast, it kind of comes across the transom. But when did you decide, like, what's your origin story on the podcast?

How did you, what, how, what made you wanna start it?

nathan_1_04-03-2025_090818: I am a very, have been a very private person, so I didn't even join. I had zero social media, everything that I built here. [00:38:00] If you go back to the original conversation we had about, uh, state right

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: being in, for me, being in peak state, well, for me, what that's meant is through my life and career is shutting out the noise.

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: I don't need all the noise. Look, I, I control my own state and the more noise there is, so never even created a Facebook page. I didn't have Instagram, none of this. Um, we built in private, you know, I built my sales teams in private, I built, so I never did it publicly. I never, people don't know, have, have not known what I'm doing.

dan-ryan_55_04-03-2025_150818: Now you're turning yourself into one of those boomers we were talking about a couple minutes ago.

nathan_1_04-03-2025_090818: Exactly right. Well that was, that, that, that was me. Right? That was me. And, and so my business partner and I decided in 2024 that we were gonna level up and we, we bootstrapped everything to this point. We've done, we have [00:39:00] about a $30 million portfolio now, four commercial properties here in Hawaii.

Long-term rentals, short-term rentals, the whole thing. But we recognize we got as far as we could, and that we've got a massive vision. We have a vision to build a $400 million. Company. And to do that, we were gonna need to then depend on capital. We couldn't do it all on our own. we joined a mastermind at the beginning of 2024. And what we recognized is, number one, success leaves clues. We don't need to recreate the wheel, but success leaving clues in today's world means there's an unbelievable opportunity to get eyeballs on you. You gotta tell your story and there's all of these different avenues to tell your story. And we were not comfortable with the whole Facebook and Instagram and we're like, no way.

We're not doing that. we're, we're operating in a different world. That's the reality. And, and, and eyeballs equate to equity. And, and so what our first, what we did feel [00:40:00] comfortable with is, hey, we could do long form content. We could, we could tell our story through a podcast like that felt more comfortable to us and more in our wheelhouse and going out and creating these, you know, these. Social media clips. Now, as we started to go into this and recognize, yes, let's, let's, let's teach people number one, let's be adventurers, right? So let's take this podcast concept with I. We're, we're a few steps ahead of a lot of people in hospitality that are looking to go and invest. And you know, we've been through a lot.

We've grown this unbelievable hospitality company where we've been awarded the number one hostel in, in small hostile in North America. We've, we've scaled, we've done our second one, we've got our prototype. So hey, we, we've, we've got something to offer, number one. But then number two, let's also be adventures.

If we have a podcast we can actually have guests on that are further [00:41:00] along than us, that can teach us and our audience at the same time and we can have access to the man. We have, we have lenders on, right? We have a cost. We had a, the cost EG Cowboy on one of our episodes and to learn about cost segregation and all of these things that are not just teaching our audience, but are teaching us as well.

So we also have this adventure, curiosity mindset um, and, and that's where it started. And from there then we started to develop, okay, well, to grow the audience short term con, you know, so now we have a, a marketing presence that is really helping us, but whether it's LinkedIn, all these different accounts now we've just created, they're brand new.

You go in and look and you're like, wow, these guys don't have very many followers. Well, we just got started. And, and so we recognize though that ultimately by telling our story, people have been very interested in our story. Investors have been very interested in our story. [00:42:00] um, now we're out there in acquisition mode.

We've created a, a pretty unbelievable infrastructure from, uh, fractional CFO business coach, EOS across our, our company.

dan-ryan_55_04-03-2025_150818: Look, there's an alphabet soup of things and I've, I've done a bunch of 'em, but EOS or traction is like, it's unbelievable for any entrepreneur out there if you haven't heard of it or you're thinking about it, it is such an awesome playbook. And all of these are good, all these different playbooks, and it really comes down to the practice, not the actual tool, but that book and the way that they showed it and the way that they organized their, uh, level tens and their values and their, I don't know, everything is just amazing.

That was like transformational for me as well.

nathan_1_04-03-2025_090818: yeah, we hired a business coach to, to really

dan-ryan_55_04-03-2025_150818: Like an,

nathan_1_04-03-2025_090818: we were spending so much time in the business

and we needed to

dan-ryan_55_04-03-2025_150818: an implementer.

nathan_1_04-03-2025_090818: Yes. And so, um, that, that process, I want to share with you the [00:43:00] impact of that.

dan-ryan_55_04-03-2025_150818: It's amazing.

nathan_1_04-03-2025_090818: if you, if you look at, if, between my business partner and I, we were probably spending 60 hours a week on operations working with the

dan-ryan_55_04-03-2025_150818: Mm-hmm.

nathan_1_04-03-2025_090818: building processes and systems.

He's really the process guy. I am the people guy.

dan-ryan_55_04-03-2025_150818: Your culture. Yeah.

nathan_1_04-03-2025_090818: like all, all of this stuff, we were spending all this time and we're like, man, we, we don't have time to do anything to work on the business. So after we made this switch between the two of us going from 60 hours a week on operations,

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: between the two of us we're down to five hours a week.

dan-ryan_55_04-03-2025_150818: Yep.

nathan_1_04-03-2025_090818: So we run two and a half million dollars worth of, of revenue on five hours a week.

dan-ryan_55_04-03-2025_150818: That's awesome.

nathan_1_04-03-2025_090818: a million dollars of NOI on five hours a week, and that that was the power of EOS.

dan-ryan_55_04-03-2025_150818: Yeah. And just so you, uh, for those of you also dunno, E os is the entrepreneurial masters, no entrepreneurial operating system. And it was written by, it's probably up on that shelf, my business [00:44:00] porn shelf, but it's, um, Gino Wickman, Gino G or Gino. Gino Wickman.

nathan_1_04-03-2025_090818: I,

dan-ryan_55_04-03-2025_150818: Yeah. They're pretty awesome. It's, and I know so many entrepreneurs who dusted that one off or bought it and it's, it's changed the course of their existence.

Huh. Um, one question, I'm, I actually haven't talked to that many podcasters, um, but from doing that outside of your business, I know it's a part of your business as a wheel, what's the most rewarding thing you find about doing a podcast?

nathan_1_04-03-2025_090818: Oh, I just took screenshots today. I sent him to my business partner this morning. Before we had this, I sent him two or three. now we're really starting. My, my favorite part is a contribution. So the things that drive me, if we go back to the six human emotional

dan-ryan_55_04-03-2025_150818: Mm-hmm.

nathan_1_04-03-2025_090818: one driver for me is contribution. So for me, and that's, if you look at leadership and building teams, well, the thing [00:45:00] that gives me such fulfillment and energy in life is to contribute to someone else's journey. It's more important to me than my own. and so to receive feedback, because when you're doing a, a podcast. It's like you're speaking into the void.

dan-ryan_55_04-03-2025_150818: Totally.

nathan_1_04-03-2025_090818: You don't know. You're just like, alright, well we're just talking. Two or three of us are just having this conversation. We've got this intent, but what does it really mean? And to get of

dan-ryan_55_04-03-2025_150818: I.

nathan_1_04-03-2025_090818: saying like, the title of this guys was dropping nuggets. Please don't stop. Someone else said, I've been devouring your content. And, and what they're, they're, and then they go on and they put, those are like the, the, you know, intros. But then they go on and they say how we've really, really impacted them

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: and they're growing. Someone's under contract for their first, their first [00:46:00] property. Other people are partnering and they've got other, you know, there's just, it's really, really cool to know that, um, by, by putting this time in, that we're really having an impact on other people's lives.

For me, that's the, the

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: part.

dan-ryan_55_04-03-2025_150818: think that's my, that's my favorite part too, and the impact, and, and I, my listeners have heard me talk about this. Um, I think what makes the impact so great for me also is that I feel so bad. For the young kids that are just starting to come outta college or high school and just going into working in an office now, because it's, even though people are coming back to work, it's still hybrid.

People are not in the office as much. You don't get to hear or overhear those conversations or see how people who are older than you in the organization react or act in certain situations at the water cooler or waiting for copies. I don't know if they do coffees anymore. For me it was, there was fax machines, but it was, uh, you just don't, that doesn't [00:47:00] happen.

And I feel like in this hospitality world, or my specific, it's more hospitality design, um, but also hospitality. I feel like it fills the gap of that water cooler time. And I, I think especially for the ones who are very passionate about what they do and why they do it, it. It helps them hear those that shop talks, those stories or the, the glass of wine or the beers that would be had after work that aren't really happening as much anymore.

And it's really upsetting to me when I see it when I'm out there. And then I guess my soce is that this is impacting them in that way and kind of filling the gap and, and also they can do it asynchronously and fill it in on their own time. But for me it's definitely the impact. That's number one favorite thing for me.

Number two is it's opened up so many other doors and conversations that I hadn't really anticipated. Like I've gotten asked to speak at events or mc events or I got asked, I'm going to, um, this will probably have happened in the past. I'm gonna go speak at, uh, Penn State [00:48:00] University, um, in some hos their hospitality school next week.

And there's just all these cool things, starting new businesses, finding new partners. It's just opened up all these doors I think because I'm, I. Just so curious and talking to all these people and then it just, it creates this kind of halo effect. It's awesome, but it, for me, it's all around that impact.

nathan_1_04-03-2025_090818: Yeah. And what the second thing that you said would be my second thing as well. It is unbelievable the connections that you have the opportunity to make and it's consistent And these connections are, they're powerful. All of a sudden it's like, oh, we had a broker on that

dan-ryan_55_04-03-2025_150818: I

nathan_1_04-03-2025_090818: you know, AC across 23 states with 46 brokers.

Well. Now we have a personal relationship with them and their team. Well, that could certainly have an impact on our acquisitions, right? Like just these little, these things and the, and there's relationship behind it.

dan-ryan_55_04-03-2025_150818: totally.

nathan_1_04-03-2025_090818: I'm gonna know you now after this. You and me have [00:49:00] really, now we've like shared this moment.

And that's, that would be the, other than just having an impact on others' lives, the impact that it's having on my life with networking, connections, growth, all of that, it's, it's substantial.

dan-ryan_55_04-03-2025_150818: The other thing, and I'm doing this while you're talking 'cause I'm not even, I never even look at this shit anymore. I did for a while and I'm actually upset that I looked at it back in the day 'cause I almost got obsessed with it. But like they've listened to this podcast in 134 different countries, like the United States is the most, but like everything from Zimbabwe to Albania.

And I think at one point I was number one in um, Bulgaria, but it's because I interviewed someone from Bulgaria and I'm sure it was 'cause their mom was the one listener in Bulgaria. But it's, the reach is just amazing and it's evergreen and it stays out there. And then the transcripts are up. And if people are searching for.

Hey, a career path or something, and they type in these things. It comes up and it's part of that, [00:50:00] the large language models of ais and everything, and I just feel like I'm leaving a footprint or a stepping stool for other people to step on. And it's, it's fucking awesome. It's really awesome. I didn't actually know I would talk this much.

I feel like you're interviewing me in a way, but you're, or maybe you're just bringing the shit outta me. It's pretty great, but I don't often get to think about it by geeking out with fellow podcasters.

nathan_1_04-03-2025_090818: Yeah, I love

dan-ryan_55_04-03-2025_150818: Hmm. Awesome. Okay, so you're raising for your next po uh, uh, project, um, you, you're searching for more mostly in the islands or also on the mainland as well.

nathan_1_04-03-2025_090818: Yeah. So when we developed the prototype here on Maui, uh, we thought we were gonna build out our goal of 400 beds in, in Hawaii.

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: so we purchased our second property on a different island. what we learned through that experience is, what the heck is the difference between [00:51:00] another island and the mainland us? it's the length of the plane flight,

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: everything remotely, and it gave us so much confidence, like, oh. What, what's the difference? And so instead of just saying, Hey, we're gonna stick to Hawaii first, and then go to the, to the us, uh, we, we just decided, hey, let's go, let's grow. we are very, very close on our next project, which is really exciting.

I, I can't talk about we signed a

dan-ryan_55_04-03-2025_150818: Well, well you,

nathan_1_04-03-2025_090818: NDA,

dan-ryan_55_04-03-2025_150818: oh, okay. You could talk about it, but then you'd have to kill myself and every other listener.

nathan_1_04-03-2025_090818: we wouldn't. Yeah,

dan-ryan_55_04-03-2025_150818: Yeah. So it might be hard. Hmm.

nathan_1_04-03-2025_090818: the, the, the point is, um, yeah, we're, we're, we're, we're, we're growing. We have, we've been negotiating pro properties, uh, for per potential purchase, both here in Hawaii and, and in the us.

dan-ryan_55_04-03-2025_150818: Cool. Um, one other thing as I'm talking to you, 'cause I'm in my normal business of furnishing hotels, [00:52:00] um, with a company called Berman Balk. Our number one KPI is unsolicited positive guest feed or customer feedback, unsolicited positive guest, uh, customer feedback, which means in order to get that, you have to be doing everything else right way as far as delivering product or projects and product.

Um, and it's all, all that comes from culture and values and all this stuff. I was thinking about you in the hostel thing, your number one KPI, I'm gonna ask you what it is in a second, but I'm writing this story in my own head that it should be like marriages made or babies birthed. How about that?

nathan_1_04-03-2025_090818: We, we have welcomed our first Howzit hostels baby into the world.

dan-ryan_55_04-03-2025_150818: Yes. Okay. But you have this unbelievable thing of bringing people together and like creating these partnerships of, at a very early stage of life. That's, that must, I'm getting goosebumps. Like really just thinking about it too.

nathan_1_04-03-2025_090818: it's real. It's real.

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: we do and we get those responses. People will [00:53:00] share with us their wedding photos.

dan-ryan_55_04-03-2025_150818: So are you tracking those? How many people?

nathan_1_04-03-2025_090818: talking No, but you just, you gave me a really good idea. In fact, I was in a hostel when we were, we were looking at a, a hostel, they do a great job, um, on Oahu, we're just touring different hostels. And they had this board that had, um, these photos of moments like

dan-ryan_55_04-03-2025_150818: Hmm,

nathan_1_04-03-2025_090818: described. And it, now it just hit me like, oh wow, that really is powerful. Holy crap. So, um, I've written it down

dan-ryan_55_04-03-2025_150818: the

nathan_1_04-03-2025_090818: I mean, really if we look at my favorite story of, of growth, and when you really look at our culture, what we've created, we had two, two intentions in the beginning, and that was to become the employer of choice in the, the hostile industry and be the volunteer of choice, uh, work exchange within the hostile industry, those two things, because ultimately that. to hospitality experiences and the impact that it has on guests. And so when we did our initial [00:54:00] interviews, um, we were hiring for our general manager first hire. We hired a consultant from, uh, from Europe that was a successful hostile consultant. 'cause we remember, we knew nothing about this. So we hired a consultant and, um, to help us in the beginning.

But we, we really focused on, we wanted our first, uh, anybody that worked for us to not just want to want a job, we wanted people that wanted to be a part of something special and build something unbelievable.

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: And so he was responsible. Our consultant, Leo was responsible for setting up all the interviews, taking in all the applications, and then he would put a column that would say, no. Maybe. And yes. And then we would decide which ones we wanted to interview. we get down to our final three candidates and we went to, to log into the call. Um, we were interviewing Zach. Well our previous interview was Zach. He was in a buttoned up white [00:55:00] shirt in his office. was passionate about hostels, but he was currently working as like a, a higher level leader in FedEx or UPS or something like that.

He had an actual office and stuff behind him, books and very buttoned up. He was bald um, and so we go to have this final interview with him. There were three candidates and we hit send to open up the zoom call and all of a sudden there's this 27 hair out to here. Ring rings, like rings in his ears,

dan-ryan_55_04-03-2025_150818: Oh good. He became his real self. The real Zack. Will the real Zack please show up?

nathan_1_04-03-2025_090818: Tattoos. Tattoos, he's, and he's outside and there's pine trees and a fence. And he's just so, he's like, thank you so much for this opportunity. We're like, who is this? was so confusing. dropped off the call, business partner dropped off the call, but I remembered [00:56:00] that one of the nos in the applicants said, this is my dream job.

I asked, Hey, where are you? Where are you right now, Zach? And he said, oh, I'm in Oregon. And I remembered this person was from Oregon. um, and we said, no, he didn't even hit the maybe list, right? And now, all of a sudden, so what Leo had done is he'd sent the invitation out to the wrong Zach. That's what we've called him for the past four years.

The wrong Zach. So I go on with this, this conversation. I say, look, Zach, I just wanted to let you know that we didn't feel you were the best fit based on your experience for the general manager position, but we think you're an unbelievable human being. Can I ask you a few questions? As I dug in, I recognized, wow, this is,, is the type of person we wanna build our culture around.

dan-ryan_55_04-03-2025_150818: Yeah.

nathan_1_04-03-2025_090818: So I offered him a position, and the position was 30 days, come stay with us. We'll provide food and board, see what you think. We need somebody to go and create

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: like what are the [00:57:00] coolest things to do on Maui? And then how can we go and make that into

dan-ryan_55_04-03-2025_150818: Oh my God, that's probably his Everything.

nathan_1_04-03-2025_090818: like, he's like, all right, well. I just got done with the relationship and okay, at worst it's a 30 day adventure in Hawaii. But he goes, I'm gonna be something for you guys. man, he became our second full-time hire.

dan-ryan_55_04-03-2025_150818: Hmm.

nathan_1_04-03-2025_090818: And then he became, as we built, he became our assistant manager. And then when our general manager had to have for an emergency move on, he became our general manager.

And now he's our area general manager. He's our number one in command of the entire Hawaiian Islands. He's running two and a half million dollars worth of revenue. And he is an unbelievable part of our culture. So culture for us in developing people and providing opportunity, becoming that employer of choice. Um, but it really, it really starts with, with with people.

dan-ryan_55_04-03-2025_150818: If being the wrong Zach turned out so good, you don't want to be [00:58:00] right. That's from coming to America. A little, a little fun there. Um,

nathan_1_04-03-2025_090818: that's a good way to put it.

dan-ryan_55_04-03-2025_150818: if being wrong feels this good, I don't want to be right. Um. Awesome. I mean, this has been just a wonderful and surprising conversation on many different levels, so I thank you.

If people wanted to learn more about you or the hotel investor, uh, playbook, or how's it or malama, what's the best way for them to get in touch or learn more? I

nathan_1_04-03-2025_090818: tune in, listen to the, the Hotel Investor playbook. You can find, find us there. We, we also have for that, uh, an Instagram page, so you can find us on the Hotel Investor Playbook. And you know, I'm Nathan St. Cyr, so you can put, put that in the, the, the show notes for us. And yeah, if you have intrigue and interest, if we sparked your interest, uh, give us a listen.

dan-ryan_55_04-03-2025_150818: totally 100%. And so thank you for sharing your story with me, with our listeners. Um, I really appreciate it. Nathan. Thank you so much. And

nathan_1_04-03-2025_090818: thanks for having me on, Dan. [00:59:00] Appreciate you.

dan-ryan_55_04-03-2025_150818: to our listeners, Mahalo, uh, if it weren't for you. All of those six things coming into alignment where you really bring me such happiness, joy, and awe. I probably wouldn't have wound up talking to Nathan here, so I thank you.

And if this changed your idea of hospitality or made you think a little bit differently or maybe choose another career path, or maybe want to go out to Maui and meet Zach and go paddle surfing with him, pass it on to someone else. Uh, because we all grow by word of mouth and other channels too. But it's, uh, it's a labor of love and thanks for being on the ride with me.