Living the Luxe Life by Mark Bego

Author:Mark Bego
Language: eng
Format: epub
ISBN: 9781510740877
Publisher: Skyhorse
Published: 2019-03-10T16:00:00+00:00

5

RODEO DRIVE

THE ODDS OF BUYING A HOTEL ON RODEO DRIVE

People often ask me how I ended up owning the only hotel on world-famous Rodeo Drive. It was nearly twenty-five years ago, and frankly, it had happened just by accident.

I’d received an invitation to an exclusive luncheon in honor of Councilman Hal Bernson that was organized by Rick Caruso, owner of the successful Grove shopping mall and theaters. Hal was the same city councilman who, five years earlier, had championed our zoning battle in the City Council to keep the property on Sunset as a hotel. So, of course, I was one the people who replied, “Yes,” to the event being held at an elegant private business club in Westwood.

By chance, the man sitting next to me was a banker, and after looking at my business card, he asked, “So you are in the hotel business?” I answered yes, to which he said, “My bank has a hotel on Rodeo Drive, in Beverly Hills, and we just can’t seem to get rid of this note.”

“You’re kidding,” I said with astonishment. I was intrigued. When the lunch ended, I asked him, “Will you have time to go look at it with me?” He agreed, and the rest is history.

So sometimes, the act of simply “showing up” can turn your life around. Had I not gone to that luncheon to assist Hal Bernson to pay for the debt he incurred in a recent reelection campaign, I might have never had the opportunity to purchase The Rodeo Hotel. In fact, I usually don’t go to these types of events because of my personal shyness. Often I am stiff-necked and afraid that I will seem foolish and awkward at these events, especially where I don’t know anyone. This is one of the many issues I have worked through after all these years. So, when I received the invitation to this luncheon, I simply made the decision to “show up.”

When the banker and I went to look at the hotel, I immediately saw the potential in the location, so I did everything it would take to find the financial means and subsequently purchased it.

A vitally important aspect of launching a brand undertaking like this is to partner with the right people. Finding the right sincere people is a key part of seeing your goals accomplished. You want to find people to work for you who not only understand your vision, but who also “buy into” your dream. You want to find creative people you can work with. It is very important to surround yourself with people who are working in the same direction, believe in your idea, and want to help you grow it.

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