212: Hotel Meth Takedown
Debbie Feldman literally grew up in hotels—her father founded Embassy Suites—and she’s since worn almost every hat: GM, asset manager of a 45-hotel portfolio, and co-founder of TCOR Hotel Partners. She’s led high-profile repositionings (hello, Fairmont Copley Plaza) and recently teamed with Hotel B School to build a pragmatic course on hotel investment. Susan and Debbie talk about buying basics, budget brass tacks, and booking blend.
🔔 Call Button Q: When staff ask, “Is the hotel for sale?”—lead with candor.
🎓 From GM to DOS (on purpose): Debbie took a “demotion” into sales to prove she could do it—and did.
🧾 Revenue vs. profit reality check: Early in her career, even as a GM, she admits the focus stopped at GOP.
🛑 Brand showdown: As an asset manager, Debbie hired an outside sales trainer for brand-managed hotels, got a cease-and-desist… then watched the brand adopt the same trainer chain-wide.
💸 How her group dodged COVID cash calls: Maxed every eligible relief program early, kept leverage conservative (~65%), and worked closely with a relationship lender for forbearance. Discipline > drama.
🏫 Hotel B School course—who it’s for: GMs who want to speak “owner,” ops pros eyeing the real-estate side, and commercial leaders (sales/rev) aiming at development.
📈 Rate, occupancy & flow-through—what owners actually want: It’s not “team rate” or “team occupancy.”
🧠 Deal thesis 101 for GMs: Know the hold period, cap rates, and likely exit timing so your capital asks match ownership’s lifecycle.
🪄 Debbie’s magic wand for NOI: Win more lowest-cost demand—local negotiated accounts + direct/brand-site booking.
Our Top Three Takeaways:
1. Owners Value Transparency and Alignment
Debbie emphasized that honesty is always the best policy when staff ask tough questions, like whether a hotel is for sale. She explained that owners prefer to retain staff through transitions and often provide incentives for key leaders to stay on board.
2. Think Like an Owner, Not Just an Operator
A recurring theme was the importance of GMs and property-level leaders understanding ownership concepts like hold periods, debt service, NOI, and cap rates. Debbie pointed out that too many managers stop at GOP on the P&L without considering debt, taxes, or insurance. She advised that showing up “like an owner” requires tracking those below-the-line costs and making decisions that reflect the deal thesis, not just short-term RevPAR growth.
3. The Path from Hotel Ops to Ownership is Possible and Teachable
Debbie’s own career path, from GM to asset management to ownership, underscored that crossing into the investment side of hospitality is achievable. She created the Hotel B School course to help GMs, revenue leaders, and others make that leap. The course demystifies ownership jargon (IRR, debt service coverage, cap rates) and provides the tools to interview well and contribute strategically. For aspiring owners, the key is moving beyond operations to truly understand how hotels make money for investors.
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