The Hotel Investor Playbook
Welcome to The Hotel Investor Playbook, hosted by real estate investors and hospitality experts Michael Russell and Nathan St Cyr. As the founders of Malama Capital and Howzit Hostels, Michael and Nathan have a wealth of experience in owning and operating boutique hotels, hostels, and other experiential lodging properties. With over $30 million in real estate investments, including short-term rentals, long-term rentals, commercial retail, and hospitality properties, they bring a unique perspective on how to turn passion-driven investments into financial freedom.
In this podcast, they share their roadmap for transitioning from traditional real estate investments to boutique hotels, offering listeners the insights and strategies needed to succeed in this niche market. Whether you're looking to learn about identifying the right property, managing operations, or understanding the financial complexities of boutique hotel ownership, The Hotel Investor Playbook has you covered.
Join Michael and Nathan each week as they document their journey towards building a $400 million real estate-based business and bring you along for the ride. Subscribe now and start turning your real estate investment dreams into reality.
The Hotel Investor Playbook
The Ultimate Guide To Financing Your Next Hotel Deal | Suraj Desai E30
In this episode of the Hotel Investor Playbook, we sit down with Suraj Desai, a hospitality finance expert who has helped close hundreds of hotel deals, to unpack everything you need to know about financing your next acquisition, renovation, or ground-up development.
Suraj breaks down the full capital stack, from SBA 7a and 504 loans to bridge, CMBS, and mezzanine debt. He explains which types of financing work best for boutique hotels vs. flagged assets, why banks are pulling back, and what it really takes to get a deal funded in 2025.
We also cover:
- The difference between good collateral and great sponsorship (and why you need both in today’s market)
- How to use bridge and mezzanine loans to scale faster, even with limited equity
- The truth about SBA loans: how they work, who they’re for, and the major difference between 7a and 504
- What CMBS lenders really look for (and why they’re not always the bad guys)
If you’re serious about buying your next hotel or just want to understand what lenders are looking for right now, this episode is a must-listen. It’s a masterclass in real-world hotel financing.
About Suraj:
Suraj Desai leads the hospitality practice at Black Bear Capital Partners, a nationally recognized capital markets firm that has closed over $28 billion in commercial real estate financing. With more than a decade of experience and over $800 million in hospitality debt and equity transactions, Suraj specializes in structuring creative and competitive financing solutions for boutique hotels, lifestyle assets, and independent operators. His team brings deep lender relationships across all major platforms including banks, credit unions, SBA, non-recourse lenders, bridge lenders, and mezzanine providers. Suraj is widely regarded as one of the go-to brokers for hospitality financing and has helped secure funding for properties ranging from $3 million to $50 million nationwide.
Connect with Suraj:
Website: https://bbcp-llc.com/
Email: sdesai@bbcp-llc.com
Phone: 773-314-7659
Linkedin: https://www.linkedin.com/in/suraj-desai-4276ba24
Connect with Mike and Nate:
Instagram: @the_hotel_investor_playbook
Contact Us: info@hotelinvestorplaybook.com
Invest with us: Visit Malama-Capital.com for more information.