Stewart Title National Commercial Services’ Post

Agent "A": "PLEASE SEE MY SUBMISSION FOR ABC HOTEL GROUP AND LOG FOR OUR AGENCY ASAP! We are expecting competition from approximately 17 other agencies so we are trying to block all markets available to us! We have been unable to obtain loss runs from the insured's other broker(s) so can you please make an exception and accept the attached no known loss letter?" Agent "B": "Please see our submission for XYZ Hotel Group. They have been a long-time client of ours for the past 20 years and we are looking to improve their program in any way we can upon their upcoming renewal. Can we please schedule some time to discuss the opportunity so we can determine if AIU can be a good fit for our client? In the interim, you will find a completed SOV and currently valued 5-year loss runs attached for your review". Both agent types exist. I'll let you make the conclusion as to who wins more business (and who any underwriter would rather work with!). #insurance #hotel #motel #propertyinsurance #insuranceagents #insurancebrokers #commercialinsurance

Join me as I host this webinar on the importance of using your industry contacts when sourcing hotel RFPs!

🎥 **Spotlight on Underwriting Templates: A Tool for Success** When I first delved into the world of underwriting, I leaned heavily on a personalized version of Robert Beardsley's template—a pivotal move. This choice evolved over time, especially as I started collaborating with Stephen Glode. Stephen, an expert in hotel conversion underwriting, developed his own unique template. - Why is this template special? - Tailored for hotel conversion projects. - A proprietary tool designed for efficiency and accuracy. - Available for purchase, showcasing its value and effectiveness. If you’re serious about mastering underwriting in hotel conversions, connecting with Stephen Glode might just be your next best step. Curious about how these templates could transform your approach to underwriting? Drop a comment or share your insights! #Underwriting #HotelConversions #BusinessTools #CapitalEfficiency #Investment #ProfessionalGrowth #motelstoapartments #parkrise #hoteltoapartmentconversions #moteltoapartmentconversions

💸 Are you facing higher event deposits or more frequent deposit demands? Discover essential strategies for navigating the complex landscape of hotel deposits. In our latest blog post, we explore insights shared during a recent HopSkip webinar featuring industry experts Sean Whalin (Co-founder and CEO of HopSkip), Barbara Dunn (Partner at Barnes & Thornburg LLP LLP), and Lisa Sommer Devlin (Devlin Law Firm, P.C.). A few takeaways: 🔑 Leverage is everything—savvy negotiators can reduce subsequent deposit demands after the initial payout. 🔑 From the hotels' perspective, a solid payment history and glowing recommendations can tip the scales in your favor. 🔑 Escrow arrangements are costly and impractical—strategic negotiation is key to balancing trust and security. #HotelNegotiation #MeetingProfs #EventProfs #MeetingsMeanBusiness https://lnkd.in/eN6Z8KZ3

Finding hotel deposits challenging? You're not alone. As event deposits grow in size and frequency, mastering the art of negotiation is more important than ever. I had the pleasure of chatting with two of the brightest legal minds in our industry during a recent HopSkip webinar. Together, we discussed effective strategies and practical insights for navigating this complex landscape.

⚡️ Last week, while deep into underwriting some promising hotel deals, something just didn't sit right. Here's a little story about how a glitch almost led me astray, and what it taught me… As I dove into the Rooms revenue projections for several hotel deals I was underwriting, something seemed off. The numbers were climbing at an unrealistic pace… 📈 While part of me wanted to believe I had just discovered a grand slam hotel deal, my instincts told me to dig deeper… I suspected a glitch but couldn't pinpoint the exact issue. This is where my good friend Rance Jones came into play. I reached out to him with this, and he immediately recognized the problem. Rance had encountered a similar issue a few years back with the same exact Underwriting software and knew right away that the root cause was a misconfigured variable component in the software. He guided me through the necessary adjustments to correct the model. With Rance's expert advice, we tweaked the underwriting model to align better with realistic market conditions, bringing the revenue projections down to earth. His insight was invaluable, turning what could have been a costly oversight into a manageable fix. 🔍 Key Takeaways: 1️⃣Vigilance is Key: Always double-check your figures and question anything that seems too good to be true. A simple oversight can lead to significant misjudgments. 2️⃣Leverage Your Network: The importance of having a reliable network cannot be overstated. Rance's prior experience with the same issue saved me from likely days if not weeks of finding a needle of a solution in the haystack… 🏨 Connect With Me: Interested in more insights and hotel investing insights? 📲 DM "Invest" to join my exclusive Hotel Investor Newsletter #RealEstateInvesting #HotelInvestment #Underwriting #Networking

“We no longer have to raise breakage and damage issues with guests - which helps us to deliver a better guest experience and ensure we maintain our 5 star TripAdvisor score” Maintain your 5 star rating. Breakages and damages happen - we're all human. But when you're a short term rental property owner, these costs can mount up. Whilst deposits enable you to cover the cost - they often leave a bitter taste when it comes to settling a dispute. Waiver protection avoids this - with any disputes or issues paid out by us. The result? Happier guests and 5 star scores remain intact. Thinking of switching to waivers for your property protection? www.waive-it.com

We're thrilled to share that Compass has achieved the #1 spot for brokerage volume in the country for an incredible 3 years running! This wouldn't be possible without our incredible team and an unwavering focus on putting our clients first. Here are 10 reasons why Compass continues to be the leading choice for your real estate needs: 1. Unmatched Agent Network: We've built a powerful network of highly skilled and experienced agents who consistently deliver exceptional service, ensuring a smooth and successful experience throughout your real estate journey. 2. Tech and Marketing Edge: We leverage cutting-edge technology and marketing tools, giving our agents a significant advantage in attracting buyers and sellers, and maximizing exposure for your property. 3. Client-Centric Focus: Client satisfaction is paramount at Compass. We ensure a smooth and successful experience for both buyers and sellers throughout the real estate transaction. 4. Data-Driven Decisions: We use data and analytics to inform our strategies, allowing us to target the right markets and clients more effectively, connecting you with the most qualified buyers or sellers. 5. Global Reach, Local Expertise: Our global presence connects you to a wider pool of potential buyers and sellers while maintaining a focus on local market expertise to ensure you get the best possible results. 6. Investing in Our Agents: We heavily invest in training and development programs for our agents, ensuring they have the latest knowledge and skills to excel in the real estate market, ultimately providing you with the best possible representation. 7. Competitive Advantage: We offer competitive compensation packages and benefits to attract and retain top talent in the industry, like the amazing agents who will be working tirelessly on your behalf. 8. Collaboration is Key: We foster a collaborative work environment where agents can share knowledge and resources, leading to better outcomes for clients and a thriving community within Compass, working together to ensure your success. 9. Luxury Market Leaders: We have a strong presence in the luxury market, catering to high-net-worth individuals and investors, allowing us to leverage that expertise for the benefit of all our clients. 10. Innovation at the Core: We are committed to constant innovation, developing new and better ways to serve our clients and elevate the real estate experience for everyone. We are constantly looking for ways to improve and deliver an unparalleled level of service. John Bathurst Compass | John Bathurst Group 310.594.5705 DRE# 01977487 #Compass#1 #compass #johnbathurstgroup #compasscalifornia

Caught in a doom scroll? Well, if you're working on an existing Class 3 (hotel) or 9c (resi care) refurb in NSW, you may be interested in this... The Design and Building Practitioners Amendment (Miscellaneous) Regulation 2024 was just made the Design and Building Practitioners Act 2020. See here: https://lnkd.in/dzRZ_b8B The major change seems to be that the regulations now apply to existing hotels, boarding houses or residential care undergoing refurbishment or extension from 1 July 2025 NOT 1 July 2024 as previously. This may mean that a project you had assumed would be subject to the regulations now no longer is. Until 2025 that is. The Fair Trading website also has been updated: https://lnkd.in/dSJR-kCh Check with your Project Certifier to see how this might effect you.

The boutique hotel industry has been gaining popularity, which provides greater opportunities for independent agents to offer boutique hotel owners the coverage they need. Dustin Ritch, Client Advisor at World, spoke to Independent Insurance Agents and Brokers of America about the nuances of the risk associated with individual boutique #hotels, and the importance of asking the right questions to assess what additional coverage is needed. Dustin also points out that despite the growth of this industry, it is not immune to the current hard #insurance market, from both a carrier and underwriting perspective. To understand more, read the full article here. https://hubs.la/Q02DTk-k0 #hospitality