Hotels As An Alternative Investment: Peachtree Hotel Group

Alternative Investment: Peachtree Hotel Group

If you're tired of simply choosing between stocks and bonds for your investments, I have an alternative. Investing in hotels can bring stability and growth, and Peachtree Hotel Group is a leader in the industry.

In this episode, we talk hotel investments with Peachtree Hotel Group. Brian Dunn, Managing Director, discusses how Peachtree builds, finances, and operates top-tier hotels. We discussed their approach - focusing on premium brands like Hyatt and Marriott, and how they mitigate economic challenges.

Key Takeaways:

• Vertically Integrated Model: Peachtree's comprehensive business model, encompassing development, financing, operations, and sales, enables them to optimize costs, streamline processes, and adapt to market changes.

• Investor-Centric Focus: Peachtree prioritizes investor relations through transparent communication, regular updates, and involving third-party experts.

• Strategic Brand Partnerships: By partnering with premium brands like Marriott and Hyatt, Peachtree leverages strong brand loyalty and standardized quality to drive occupancy and investor returns.

*To invest with Peachtree Hotel Group, you must be an Accredited Investor.

*This is not a solicitation for sale, for informational purposes only. 

Links:

• Read more about Peachtree Hotel Group - www.peachtreehotelgroup.com.

Time Stamps

00:24 Meet Brian Dunn from Peachtree Hotel Group

00:52 Overview of Peachtree Hotel Group

01:20 Peachtree's Focus on Premium Brands

03:24 Property Improvement Plans (PIPs)

04:21 Limited and Select Service Hotels

06:57 Peachtree's Development and Acquisition Strategy

08:20 Private Credit and Non-Predatory Lending

11:30 Friends and Family Investments

19:00 Investment Structures and Returns

21:39 Communication and Transparency

25:59 Conclusion and Final Thoughts

• Transcript

  Introduction to the Podcast

  Welcome to me financial the podcast designed to inspire your financial life. Hello, everyone. And welcome to the podcast. I am Michelle Moses, your host. And today we are going to talk about an alternative investment that is invested in hotels called a private placement, and we are going to be talking to Peachtree Hotel Group.

  
  Meet Brian Dunn from Peachtree Hotel Group

  And to do that, I have Brian Dunn, who is the Managing Director at Peachtree Hotel Group, to join us. Thank you for joining us today, Brian. Thank you so much for having me. We're excited to talk to you about hotels and excited to be on the podcast. Yeah. So, uh, Peachtree Hotel Group. Let me, uh, I'll, I'll get to my, I see.

  I just want to launch right into my excitement about Peachtree, but I has, that's specifically why I wrote something here so that I would actually introduce rather than going into how excited I am.

  
  Overview of Peachtree Hotel Group

  Uh, so Peachtree Hotel Group operates finances and invests. hotels. Uh, and so I think this makes it [00:01:00] sound very basic, but they are really kind of what I call a market maker in the hotel space.

  Uh, they build hotels, they operate, buy hotels, operate them, sell them. Am I missing anything? Invest in finance them. Renovate them. Yeah. That's a big part of it. And one of the pitfalls of hotels for sure. Okay. All right.

  
  Peachtree's Focus on Premium Brands

  And, uh, Peachtree mainly deals with Hyatt, Marriott, and IHG. Is that correct? Okay. And, uh, I just as full disclosure, I am an investor in them and I have clients invested in them.

  Um, but I am a big fan and I get a lot of questions about how some of these alternative investments work. And so I thought I would get one of my favorites on here to talk about it. And, uh, so thank you again for joining us. And so Brian knows about all of the funds that there and we're just going to talk about how some of these deals are structured and what you can expect to go into them.

  We're not going to be talking [00:02:00] about a specific deal. Uh, we're not going to be talking about like a specific fund. Okay, so let's go and we'll back up a little bit and talk about what does Peachtree do? And I know I kind of touched on it. But can we go a little bit more into like how long they've been in business and that sort of thing?

  Yeah, absolutely. So we were originally founded in 2007. really as a family office. It was our three principles that came together, all three of which have backgrounds in banking or banking with regards to hospitality or ownership and hospitality assets. And they came together really to Invest their own money and their friends and family money.

  And then, uh, they're, you know, recognized as one of the market leaders and had the opportunity to expand into the institutional platform that we are today. Uh, but we've always, as you kind of mentioned, focused in the premium brands, the Marriott and Hiltons and IHGs of the world. And the reason that we like those is that they have, you know, more than anything, the app that's on your phone that, uh, [00:03:00] that takes you to their, their home page and, uh, their loyalty points do a great job of driving occupancy.

  And I think it's great that you guys focus on that because, um, I, I want to stress, you know, you have contracts, the hotels have contracts with Marriott and, and Hilton, right? And there's a lot of stipulations with that, with, uh, when you need to remodel a hotel. And so can you go into some of that too? Yeah, absolutely.

  
  Property Improvement Plans (PIPs)

  So the, the, the premium brands typically have what's called like a seven year property improvement plan and we call them PIPs, but a property improvement plan is what they are. And that's effectively, uh, you know, capital that you're going to need to put back into your hotel to do a renovation, to maintain the brand standard.

  Uh, if you don't do that, you end up losing your flag because this is a franchisees franchise or agreement. And it's a way for the premium brands to maintain experience from, uh, let's say a courtyard on the West Coast to a courtyard on the East Coast. And, uh, and again, it drives occupancy because at the end of the day, the, the folks that are going to stay there know what they're going to get.

  It's not going to [00:04:00] be, you know, kind of, I often get the question about Airbnbs and, uh, you know, the, you don't know what you're going to get with an Airbnb. Sometimes they're phenomenal experiences and sometimes they're not. And then sometimes you, you check out and you've got an extra 300 on your bill for whatever it might be.

  So you know what you're going to get with what we do. Right. And so that's, they're trying to maintain consistency across. Yeah, exactly.

  
  Limited and Select Service Hotels

  And then, you know, you mentioned that we focus in the limited and select service. We really like that model. Uh, it tends to be resilient to economic downturns. There's cost centers that are easy to control.

  So, for example, what can you explain what limited and full services? Absolutely. So limited and select services, you know, just like your courtyard by Marriott, your Hampton Garden Inns, it's, it's effectively, you know, the, the, the hotel, the, the, the room itself, and then maybe a cafe or something as compared to an upscale or a luxury brand.

  You know, we often say that we're not going to own a Ritz Carlton on the beach and we're not going to own a motel six. We like the kind of the middle ground that has multiple demand drivers. And by demand [00:05:00] drivers, I just mean, you know, folks that might want to go there for leisure activities or group activities or corporate activities.

  And what the, the limited select service brands do is that they, uh, they really have cost centers that are easy to control. So what I mean by that is going back to 2020 and during the pandemic. You know, if you owned a Ritz Carlton on the beach, that might be a beautiful hotel, but at the end of the day, it probably had three restaurants in it.

  It probably had a couple of retail centers in it. And all of those are drags on the cashflow from the operations. And by having the limited and select service focus, it allows us really to control those costs as much as possible. Okay. And there is an, so you were going to Let's go into what I would kind of backed up about the limited and select service and then wanting the, um, was I stopping you from going in another direction with this?

  Nope. Nope. Limited and select services is where we like to focus in. Every once in a while we'll do an extended stay brand because, uh, again, from a cost center perspective, those are typically cash cows. They do really well and performed phenomenally during the [00:06:00] pandemic. And so, uh, ultimately we're pretty, uh, risk off despite being in hospitality.

  We really like to be more conservative both. from a leverage perspective, but also, um, you know, from a, from a brand perspective as well. Yeah. And that's what I always like. I, when I go to your meetings and everything, it's like, um, you guys are always preparing for a recession. I feel like it's like there could be always be a recession tomorrow.

  And that's how I think when I'm investing, I mean, anytime I'm investing anybody's money, it's like, okay, what if there was a recession? Like that's just what you're always thinking about because you don't want to go through that. And like, you want to feel the minimal amount of pain. Yeah. Yeah. Absolutely.

  You know, if, if Greg Freeman, our CEO was on here, he'd tell you that at the end of the day, we're just basis investors more than anything. Uh, you want to protect your downside. Yeah. Yeah, absolutely. And that's one of the reasons that I love you guys. Uh, okay. So have we kind of covered like what peach tree?

  Well, I don't think we've covered everything. Okay. So that's what you guys invest in. And so I want to go back to you guys.

  
  Peachtree's Development and Acquisition Strategy

  Build hotels, so that means develop them, [00:07:00] buy the land, build them, you know, get the contract, get it up and going, and then with the goal to sell it, correct? Absolutely. So we have those opportunities that are out there.

  Um, you know, those are challenging, especially in today's environment. But I would, you know, I would say that today is the day to be developing, frankly. When things are hard to develop, that's when you want to develop, especially when you think about the, you know, the seven year cycle of the property improvement plans.

  It creates, you know, kind of like wine vintages of hotels. And if there's less of a vintage that can create some, some extra demand when you go to sell them. And do you guys sometimes go and look for those seven year hotels with the people that can't, can't afford the upgrades basically? Yeah, you know, that's a phenomenal opportunity that we're finding today.

  Um, you know, a lot of folks survived the pandemic. They kind of scraped by, but they spent a lot of the money that they had. in reserves in order to do so. And so now, you know, the brands were really forgiving during the pandemic, actually. They knew times were tough, [00:08:00] uh, the brands being Marriott and Hilton.

  But now that times are really, really good for hotels again, those brands are going back to those owners and saying, it's time to do that property improvement plan, Mr. Owner. Um, well, a lot of those owners, unfortunately, don't have the capital available to do so. And so a lot of them are now coming back to us in order to provide financing.

  And, you know, you alluded to it earlier of what we do.

  
  Private Credit and Non-Predatory Lending

  We provide private credit. And you know, today's environment with a lot of the banks and other kind of traditional lenders out of the market, it's provided a great opportunity for Peachtree to step in. Um, and at the same time, you know, hospitality is a very, very small niche market, and we're known for being non predatory lenders.

  In fact, it's difficult to be a predatory lender in hospitality. Due to, its really kind of, you know, tight-knit community. Because if you start going and foreclosing on borrowers, uh, real quickly you're gonna find that, uh, there's, there's folks that just don't wanna borrow from you. Mm-Hmm. . And that. Well, and that's another reason I love you guys, is not only that you can pivot, so you could pivot because you are vertically integrated, [00:09:00] is that you could go buy land or you could buy a hotel.

  You could build a hotel, whatever you need to do, or buy an existing hotel and remodel it. But then when that is not a feasible option in the market, then you can pivot and do credit. And it's not like you're doing it in a predatory way to get people to sell their hotels to you. It is, you are really actually restructuring their debt so that their payment is better.

  And you guys, you should see some of the ways that they do it. It just blows my mind, honestly. Does it blow your mind too, Brian? Oh yeah, absolutely. You know, I feel like every single day I get schooled by our C suite of, uh, of how to do things and, you know, make it mutually beneficial for everybody. You know, again, going back to the pandemic, excuse me, we bought about 1.

  8 billion worth of discounted debt during the pandemic. and didn't just turn around and foreclose on those people. We worked out the loans, you know, sometimes we extended the term. Um, sometimes we put different covenants in place, so it protected us, but also made it mutually beneficial. And now a lot of those [00:10:00] borrowers are coming back to us knowing that we treated them well in kind of the worst possible times.

  And, uh, they're more comfortable with us, even though, you know, today's lending environment, uh, is certainly a little bit better for borrower. Right, right. Yeah. And I love the, just the creativity that there is with some, and we're not going to get into that. That would be a whole nother podcast and would need to need some visuals for sure, uh, of ways that you guys restructure some of that credit.

  But it really is mind blowing to me that I'm like, wow, I would never think of to do it like that. Uh, and obviously that's why there's professionals to do it, but I just. think it's so great. And then, um, even if you guys do restructure it, if someone does default on the loan, then you have first right refusal to purchase that property, correct?

  Yeah. You know, a lot of times, even before we need to go to foreclose on somebody, we have the option to replace the operating company with our operations. And, you know, we operate about own or operate about a hundred hotels nationwide. And I really thought of as one of the premier operators. And so a lot of times we [00:11:00] have the option to step in and avoid a foreclosure.

  Uh, but if it's necessary to foreclose, then we foreclose. And again, we plug in our operating company, ramp the asset back up. That's the goal. And then, you know, sell it off. Yeah. And by operating company, you guys, he means, um, like operating the hotel with staffing and cleaning and, uh, getting groups in there, uh, for conferences and things like that so that you can, um, get the revenue back up.

  Uh, and so again, that is why I like you guys.

  
  Friends and Family Investments

  So I kind of want to pivot to another reason that I like you guys is because there's such a high level of friends and family that are invested in your funds. And do you want to speak a little bit about that? Yeah. So, you know, like I mentioned, we started as a family office and so it really started as, uh, Jutton, Matool and Greg, our three founders going around to their friends and their buddies and saying, you know, we've, we've done this successfully for a while, uh, would you like to invest with us?

  And that's, was the, really the, like the core foundation that allowed us to expand into, [00:12:00] uh, you know, institutional and, and, and kind of everything else that we do. Uh, but yeah, a, a large, large portion of our, uh, raise of any of our investments is friends and family money. They typically, frankly, are the first people in the deals.

  Um, they, they are repeat investors over and over and over again. And they, you know, they can make up anywhere from 20 percent to more than 50 percent sometimes of individual investments, sometimes even more than that. And, uh, again, you know, it's important as, as a, as an investment company to treat your investors well.

  And I think that, uh, it's indicative of, of us doing that, that they keep coming back to us to, to continue to invest. Well, yeah. And you've got, I just call it having skin in the game. I like to invest in these types of deals when people have skin in the game and if they don't have anything in that, I don't think that they're going to manage it the same way.

  And if you have your friends and family, I mean like literally your grandma is in this fund. Your mom is in this fund. You are going to manage it differently. You've got your own money in the fund. Uh, I, you know, [00:13:00] it does go differently and you do have a different communication with your investors. You know, all of that, uh, it, it does trickle down.

  Um, and so it's something that I love. It's funny. I get these reports of, you know, all of the investors that are invested in it. And there's, there's a lot of Freedmans and a lot of, a lot of Patels and, uh, a lot of Desais and, and, you know, everybody that's got a last name that, uh, that works with us here.

  Um, but also, you know, our, our owners have skin in the game, right? You know, they're investing alongside the, their investors and their friends and family, you know, again, that's, that's sometimes 5 percent of a deal. Sometimes it's more, sometimes it's less. Uh, but, uh, yeah, they're, they're putting their money where their mouth is.

  Right. Right. And I mean, they even grew up, I mean, in hotels, like, right, like living in the hotel and operating the hotel and knowing what it is to put the plastic on the cups. Absolutely. You know, I think sometimes they like to, uh, They like to distance themselves from, from that part of their lives. But we often talk about, yeah, you know, they, they were cutting clean, cutting keys, they were cleaning the rooms, they were running the books.

  Um, and so yeah, [00:14:00] they absolutely grew up. Yeah. Because you see those shows, right? Where the CEOs have no idea what, you know, who, you know, the people on the ground are actually doing. And if you actually are Uh, in the trenches, then you actually know, you know, whether that's possible. Is it that, is it possible to clean this many rooms in a day or, you know, that kind of thing?

  Without a doubt. And, you know, hotels can be kind of a, to a certain extent, a more attractive asset a lot of times than other commercial real estate assets from the aspect of the cash flows from hotels. There's typically a stronger than many other asset classes, but at the same time, along with that comes a daily operating business.

  And, you know, pitfalls. And, you know, to your point, if you don't know how to staff it, or you don't know how much it's going to cost to renovate it and what that's going to do to your occupancy when you renovate it, you can find yourself in a really tough scenario. And, uh, yeah, I'm, I'm very happy to be at a place that thinks of things again, just from a conservative standpoint.

  despite loving the asset class. Um, uh, and, and, you know, obviously, obviously always wanting to [00:15:00] maximize returns for investors. A big portion of that is managing risk. Yeah. Do you remember when you joined Peachtree? And I was like, Oh my God, you joined the right company. Oh yeah, absolutely. I was like, you don't have to sell me.

  I love Peachtree. Yeah. It was one of my favorite meetings of all time because I, uh, I walked into it as a newbie at Peachtree and we're just like, Oh, I love Peachtree. People already love us. Oh, yeah. Oh, yeah. I was like, you don't have to sell me. I already know everything, but let's meet or whatever. I feel like I could be the salesperson for Peachtree.

  It would be great. Okay. Yeah. So, okay. So let's kind of go into an, um, You know, I don't want to talk about other funds, but you guys, I do think it's important to point out that Peachtree being vertically, vertically integrated and being able to finance, build, and to operate hotels, I think is very rare in the industry when you are looking at different hotel investments.

  And so that's another reason that I really like them because you can cut costs in the different areas. Uh, and so you aren't just beholden to some company that you're going to hire [00:16:00] to operate. Um, your hotels, uh, you know, it is in house. And so they're, and they're all talking. So obviously that kind of creates an economy of scales.

  Uh, so let's go over some of the, I don't know that we need it, but you know, some of the funds, you know, there could be a fund with one hotel in it. There could be a fund with 12 hotels. There could be a fund with multiple hotels and credit, right? Am I kind of covering the gamut there? Yeah, absolutely. So we structure our investments in a way to really lean into what the opportunity is in the market, not the other way around, just to have investments that are out there.

  And that's really one of the ways that Peachtree Group shines. You know, that could be, to your point, a single asset hotel development opportunity. Um, that could be a multi asset development opportunity in the form of maybe an opportunity zone. And the way that we look at opportunity zones I think is very different than many other sponsors that are out there in that we don't let the tax tail wag the dog.[00:17:00]

  And it's easy to want to do that from the aspect of, you know, the 2017 jobs act, which created opportunity zones, um, created really some, some phenomenal advantages to investing in those. And so a lot of sponsors go out and they want to find the opportunity zone and then find an asset in the, that opportunity zone to develop.

  Well, that's in our opinion, kind of the backwards way to do it. So what we do and what we've always done is, you know, we, we, we pick places that have uh, demand drivers that have maybe, well, certainly a growing market or a hospital, entry, you know, the right brand that we can put in there. And then if it happens to be in an opportunity zone, great.

  Now we can put it in an opportunity zone fund. So we have those, we have, um, strictly credit opportunities. So this is, you know, a lot of times senior secured, uh, first mortgages, we primarily operate in shorter term notes. So two to five years. Uh, but yeah, you might see. a pure equity fund. You might see a little bit of a blend.

  You might see a pure credit fund. Again, the opportunity zone fund. So we kind of [00:18:00] have opportunities all the time. They might not be the same opportunities all the time. Um, but again, I think that's a, that's one of the major reasons that people invest with us because They know that we're not trying to fit a square peg into a round hole.

  Yeah. And your track record is amazing. So we're done. I mean, I'm just going to say your track record is amazing. I can send it to you if you guys really, if your listeners really want to see it. Uh, but we're not going to go over what specific returns were for funds. Um, but obviously I wouldn't have continued to.

  Uh, invest with you if the returns weren't great and the communication wasn't great. Uh, and to back up to you guys, Opportunity Zones are a new tax code that was just created where if you have some capital gains or a sale from a business, you can defer the taxes if you go into this long term investment for 10 years.

  Uh, there's a lot more to it. I'm just kind of given the highlights there. Um, okay. So we've got all the different kinds. Um, I'm kind of drawing a blank here on what to talk about next because I have so many things I wanna talk about. [00:19:00]

  
  Investment Structures and Returns

  Uh, I think we should talk about the way, the way that investors can invest with you, I guess, and what are some of the returns?

  'cause I, I do wanna talk about what a preferred return is 'cause in these types of investments. Um, you can either invest for growth and sometimes people will invest for depreciation. And so in talking about the different ones that he was just saying with the single hotels might be credit. Uh, you know, if you're credit and you're lending, you're obviously going to be making interest and dividends on that.

  But if you own a piece of real estate, then some of that depreciation can pass through to you. Um, and so there are different options. It's more that you're picking hotel as an asset class. And then, you know, we kind of work with you on what are you trying to achieve or what do you need, uh, on your taxes and with your investments.

  So, um, so then kind of pivoting from there, when you do invest. There are minimums. You do have to be an accredited investor. An [00:20:00] accredited investor is making over 200, 000 a year or a million dollars of net worth without your primary residence. So these are not available to everyone. Uh, and if you are accredited investor, um, then there are some minimums, as I said, that you need to, um, invest in the fund.

  Um, but there's normally what's called like a preferred return. So would you like to explain what a preferred return is? Yeah, absolutely. So the preferred return is effectively a return that starts accruing once, once you invest. So, you know, we might not be paying cash flow right away, but effectively the goal is that the, the first 8%, you know, just using the example of some of our previous offerings, uh, previous closed offerings, that is, You know, the first 8 percent of profit that comes out of the company, uh, you know, it really what's called goes into what's called a waterfall.

  So you have priority over the first 8 percent of that money coming out of the profit coming out of the business or the fund. Isn't it your investment plus the 8%? Yes. Yeah. Whatever your base, your basis is, whatever [00:21:00] you put in plus your 8%. Okay. Yeah, absolutely. And then, you know, in a, in a, in a kind of typical fund, Uh, we structure it where it's, let's say it's an 8 percent preferred return.

  And then after that preferred return, there is a, a 2 percent catch up to Peachtree, which means that we get the next 2 percent profit after your 8%. And then everything going forward is an 80 20 split. So we, you know, we think that that's very fair. Um, and again, 80 to 80 percent to the investor and 20 percent to Peachtree.

  Exactly. So, you know, in other words, it kind of is 80 20 the entire way. However, you know, again, uh, we do get that 2 percent catch up. So 100 percent of the 2%. Uh, but, uh, yeah, that's the, you know, the, the, the typical structure.

  
  Communication and Transparency

  And then from an investor experience perspective, you're going to get quarterly statements, um, regularly emailed or mailed to you.

  Uh, we have webinars on a month, on a, sorry, on a quarterly basis where we have, you know, our development team or whoever might be in charge of the different business unit on talking about, you know, What's going on the fund with pictures, with graphs of all of the, you know, whether that might be [00:22:00] the PNL, uh, that might be, um, you know, the, our indexes against other properties or something along those lines.

  And then we also have, what's really interesting to me is just an overall market update. And those happen, uh, periodically. They're not necessarily quarterly. Sometimes they're monthly, sometimes they're quarterly, sometimes they're biannually. And then those we bring in. third parties from outside of Peachtree, you know, they're still focused in commercial real estate and more specifically hospitality.

  Uh, but it gives, you know, not just Peachtree's opinion of what's going on. And, you know, that might be somebody from CBRE or CoStar, or frankly, you know, we had somebody on from the Fed previously. So, Um, it's, it's a great opportunity to hear again, people that are really well known in the field talking about what they think is happening in the market.

  Um, and you know, you can compare and contrast that to what we're thinking, you know, obviously a lot of time those things align, but they don't always. And, uh, it's, it's just a great data point for people that want to learn more, you know, especially for your more, uh, hands on folks that want to, You know, learn more about what, [00:23:00] what the deal is and, and understand the market and maybe, you know, maybe how that might impact some of the other parts, portions of the portfolio as well.

  Yeah, that's true. And that is another thing that I like about you guys is, um, especially during the pandemic was how transparent and, um, you ramped up your communications versus a lot of people, uh, were a little bit more shy about their communications and, um, and then I've invested in other deals and especially development deals.

  I mean, and I'll get one newsletter a year. And it is just crickets and it's hard for people to invest in things and to not know what's going on. And I would say you guys really excel at the communication standpoint. And it's not just webinars. I mean, your statements are detailed. Um, the newsletters are detailed.

  I mean, it is really like next level compared to, um, a lot of these other funds, because I think a lot of the ones they start Spend a lot of time fundraising and then selling it to the advisor, and they're not spending as much time to do the communication with the investor. Uh, and you [00:24:00] guys really do that well.

  And so that is another thing that I love about you guys. So, yeah. You know, it's a, a lesson that, not that Peachtree learned from me or anything like that, but it's a lesson that I learned from a good buddy of mine who was in the Army that was effectively, you know, I'd rather have bad information as soon as possible, or bad news as soon as possible.

  Mm-Hmm, , because that allows you to, to act on it rather than. you know, getting out into the field and then having a Humvee wheel pop off your, uh, your Humvee or something along those lines. Uh, but you know, one of the things that's always drawn me to Peachtree and is really just, you know, really more than anything, you know, Greg Freeman willing to be, um, uh, you know, really to have the spotlight on him.

  I don't think it's by any means something that he particularly, uh, loves to do. It's just an important part of the business. You know, when I first learned or, you know, when I first was introduced to Greg was in 2020, actually it's May of 2020. He was on CNBC talking about what it's like to be a hotel operator.

  It would have been easy to, to hide from the spotlight at that point. And, you know, [00:25:00] he kind of hit it head on. He said, you know, yeah, it's, it's a tough time. Uh, we're plugging the holes in the ship, then we're riding the ship and then we're going to go on the offensive. And I think if you think back to May of 2020.

  There wasn't really anybody that I can think of that was thinking about offense at that point, everybody was defense and everybody was frankly very quiet at that time. And it's definitely something that I think earned us a lot of, you know, nothing else. Street cred. Yeah, well, and it shows, uh, just Just how used to the ups and downs in the market that they are, that it doesn't scare them and that, you know, they're just like, okay, well this is another correction and we'll get through it.

  So, uh, I think it's great. Historically, we've performed better in times of volatility than the not. And, uh, you know, to your point that, that, that, when there, when there's blood in the water, you know, unfortunately, uh, for some people that's a bad time, but, you know, for, for those that are investors, that's typically the time that you want to really start to evaluate those opportunities because you can find discounts or, or whatever it might be.

  Yeah. You might get some good deals. Okay.

  
  Conclusion and Final Thoughts

  Well, I [00:26:00] really appreciate you being on and, uh, I appreciate all the information that you've shared and you guys, I hope that You have at least gotten a glimpse to how these deals work. I think we've given you just a great overview of just a really good hotel fund.

  Uh, there are other hotel funds out there, but I think Peachtree is exceptional. Um, and that's why I brought them on and I had to like really petition them to do this. I had to bother them to do it. So again, Brian, thank you for being on. I appreciate it. Oh, no, we, we, uh, we certainly appreciate being on and, and, well, we love hotels.

  We love what we do. We're really enthusiastic about it. We're enthusiastic about the opportunities ahead, you know, and, and to your, to your point, you know, if folks want to get some more information, you know, first and foremost, Google Peachtree, you'll see all sorts of good stuff, you know, whether it's our website or Greg, our, our owner speaking.

  Um, and then, you know, please, please, please reach out to Michelle and, you know, we can dive into things as deep as possible as you'd like. Our goal [00:27:00] is for them to be as comfortable as possible with the investment. We certainly don't want people investing with us, um, that just happened to think it's the hot thing and jump in.

  We'd rather have people that want to, you know, understand the business. Yeah. And you don't want them to be stressed out or worried about their money. And, um, my investors, uh, this is usually the first. alternative investment that I put them in just because you guys are running on all cylinders and people love it because it's like you're investing in a business, but you don't have to do anything.

  But they, you know, and so they're making all this money and, but they don't actually have to operate the business. They don't need to do stock trades, you know, anything. Um, they're literally giving you your money and then trusting you guys to do what's best with it. So. Yeah. So thank you again and thank you for doing a great job.

  Uh, again, if you guys have any questions, let me know if you have any suggestions for other podcasts, I would love to know. Uh, and thank you so much for listening. I hope that this, uh, inspires a little bit of your financial life. Have a great [00:28:00] day.

Disclaimer: The information provided in this podcast is for general informational purposes only and should not be construed as professional financial advice. Always consult with a qualified financial advisor or professional before making any financial decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.