Think hotel investing is "passive real estate"? Think again. In this episode of Get Diversified, host Jacqueline Landry sits down with industry heavyweights Rikesh "Thunder" Patel and Kevin Kohler to expose the brutal operational realities of the hospitality world.

Rikesh, a 20-year veteran with brands like Wyndham and IHG, explains why a single negative guest review is more than just a headache—it can represent a $10,000 loss in revenue. We go deep into the "Brand Trap," where companies like Marriott and Hilton can mandate million-dollar renovations (PIPs) on your dime, and the labor crisis where you must hire eight people just to keep one.

Whether you are a seasoned investor or looking to diversify, this episode reveals why you must treat hotels as operating businesses first and real estate second.

Timestamps

• [03:28] – Meet Rikesh "Thunder" Patel: From the family motel business to launching a 2026 fund.
• [08:26] – The Biggest Misconception: Why hotels are NOT passive real estate.
• [11:01] – The $10,000 Mistake: How guest reviews directly impact your P&L.
• [15:42] – The Brand Mandate: How Marriott dictates your renovation budget.
• [20:19] – AI in Underwriting: Why you can’t trust the "hallucinating" machine with big deals.
• [26:45] – The Labor Crisis: Why you have to hire 6–8 people to find 2 who will show up.
• [38:58] – The Dark Side: Protecting your property from human trafficking and crime.
• [41:27] – Deal Structuring: Waterfalls, tax advantages (Cost Segregation), and avoiding capital calls.
• [47:20] – Thunder’s 5 Rules for hotel investing success.