Graduate Hotels: Ben Weprin

Ben Weprin created Graduate Hotels by recognizing the gap in the hotel industry. Unlike conventional hotels that lack personality, he focused on college towns, incorporating their unique culture into the decor of each hotel. This strategy appealed to those wanting a memorable experience, celebrating university nostalgia. After years in real estate, he learned key lessons and built a distinctive brand that resonated with guests. His approach underscores the importance of storytelling and connecting businesses to specific communities. Through creativity and understanding market needs, he transformed a simple idea into a successful hotel chain, now expanded with nearly 40 locations. His journey shows that innovative thinking can open doors to unexpected opportunities and highlights the value of learning from life's experiences.

Through a journey filled with personal and professional challenges, a man navigated love, career shifts, and real estate development. He began with the sale of properties, moved to Chicago to work for a renowned entrepreneur, and faced fears of inadequacy in a demanding role. Despite economic uncertainties, he recognized opportunities in the downturn, particularly with a hotel brand he admired. Inspired by his experiences and driven by his passion for hospitality, he and his wife made the bold decision to acquire the brand, showcasing the potential to turn challenges into opportunities during difficult times.

At age 30, driven by ambition, Ben approached his mentor, Larry, to buy his shares in the luxury hotel business, Oberge. Despite the financial crisis, Ben secured investors by sharing his vision and determination. He emphasized his desire to grow the company and foster partnerships, ultimately creating AJ Capital. This experience taught him valuable lessons in real estate and the importance of resilience and collaboration, proving that perseverance can lead to success even in tough times.

Starting a business often involves taking risks, especially in challenging economic times. The speaker shared their journey of launching 'Adventurous Journeys' and acquiring the Raleigh hotel during a recession. Despite setbacks, like being pushed out by investors, the support from mentors reinforced the idea that relationships are crucial in business. The lesson learned was that the most important aspect in both restaurants and business deals is the value of the people involved. This helped the speaker find confidence and new opportunities, like revamping an old hotel and creating a unique story behind it that reflects the local community.

A successful hotel concept can emerge from understanding community needs. By creating a hotel tailored for families visiting nearby universities, the developer focused on local stories to make the space feel inviting and relatable. This approach not only attracted guests but also helped integrate the hotel into the neighborhood's culture, showing that thoughtful design and local engagement can drive business success in a competitive market.

Ben Schwartz's journey into the hotel industry transformed when he visited Ann Arbor, Michigan, uncovering the unique charm of college towns. His realization led him to create a hotel brand centered around university nostalgia. Focusing on meaningful connections with alumni and the culture of these towns, he embraced the idea of offering a compelling and affordable hotel experience that resonates with the memories and theme of college life. This fresh approach prioritized community engagement and storytelling, ensuring that each hotel reflects the spirit and character of its respective college town, ultimately creating a brand that fosters a sense of belonging for guests connected to these universities.

This hotel brand stands out by integrating local culture and history into its design, using influential figures from the area as inspirations, like Michael Jordan for Chapel Hill and Phil Knight for Eugene. Despite challenges, such as the COVID-19 pandemic that drastically reduced business, the brand focused on building trust within the communities it serves by providing support during tough times. This commitment helped them bounce back as travel resumed, showcasing the importance of connection and storytelling in the hospitality industry.

Ben Wepren, the founder of Graduate Hotels, credits the success of his brand's sale to Hilton to a mix of luck and strategic decision-making. After surviving the financial strain of COVID, he realized that selling the brand to a larger company could provide necessary capital while maintaining property ownership. This deal allows Hilton to expand the Graduate brand globally, capturing customer loyalty through established points systems. While luck played a significant role in his journey, including personal aspects like family and marriage, Wepren emphasizes the importance of timing and making bold decisions in the real estate business. He reflects on the cyclical nature of investments and the challenges faced, ultimately leading to a bright future for Graduate Hotels, continuing to open new locations under Hilton's management.