The Hotel Investor Playbook

Building a Lifestyle Hotel Brand in Costa Rica | Bill Graf E52

14 snips
Oct 7, 2025
Bill Graf, former investment banker turned founder and CEO of ONDA, shares his inspiring journey of trading Wall Street for a boutique hotel brand in Costa Rica. He discusses uncovering hidden opportunities in small hotels and the unique challenges of buying real estate abroad. Bill offers insights on keeping properties full year-round through innovative strategies and the advantages of investing in Latin America. His vision for ONDA blends the social energy of hostels with boutique comforts, making it a game-changer in the hospitality sector.
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ADVICE

Pick Stable Jurisdictions First

  • Choose jurisdictions with stable law and clear property rights when buying abroad.
  • Prioritize countries with robust service providers and easy travel links for your target market.
ADVICE

Mitigate Title Risk With Local Counsel

  • Use a competent local attorney and form a local entity to buy property abroad.
  • Pull certified title records from national registries to spot claims before you close.
INSIGHT

Long Tail Opportunity In Small Hotels

  • Many hotels in markets like Costa Rica are mom-and-pop, under-managed, and underpriced relative to upside.
  • Improving operations and F&B can multiply revenue far beyond what similar U.S. deals typically yield.
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