Annex Hotel's Expansion into the US with Ryan Killeen & Ben Hoffman

Join us as we welcome back Ryan Killeen, co-founder of Annex Hotel, and introduce his partner, Ben Hoffman. In this episode, we dive deep into the Annex Hotel's expansion from Toronto into the US, specifically focusing on their new project in Palm Springs. Learn about their unique approach to merging the best elements of hospitality and tech, their journey through various market ventures, and the intricate details of their latest deal. Perfect for anyone interested in hospitality, real estate investment, and innovative branding strategies. 00:00 Introduction and Guest Welcome 01:54 Ryan's Background and Annex Hotel Overview 04:07 The Partnership and Early Days 05:05 Restructuring the Business 06:18 Expanding to Palm Springs 10:36 Challenges in the STR and Boutique Hotel Market 16:18 Annex's Unique Approach to Hospitality 23:19 Discussing the Deal: Initial Thoughts 23:43 Negotiating the Purchase Price 24:19 Financing Challenges and Strategies 26:09 Capital Raising and Projections 28:35 Renovation Plans and Timeline 29:01 Coachella and Celebrity Involvement 30:38 Branding and Market Positioning 32:22 Unique Experiences and Activations 35:40 Navigating Local Regulations 38:24 Final Thoughts and Call to Action