The Overlooked Hotel Model Making Real Money: Mike Nielson
- 3 days ago
- 1 min read
Episode 104
Real estate developer Mike Nielson, CEO of LivAway Suites and West 77 Partners, explains economy extended stay hotels as a hybrid closer to multifamily than traditional lodging, serving essential-workforce and life-transition guests needing furnished stays from roughly 90 days to six months. He shares how COVID revealed the segment’s resilience when traditional hotels collapsed, inspiring the mission to deliver a cleaner, safer, more consistent product for underserved customers. Nielson details LivAway’s rapid growth since its first 2024 opening—over 100,000 room nights sold, eight hotels open, and additional properties in development nationwide—and credits vertical integration across brand, development, construction, and property management for consistency. He also recounts an early contractor bankruptcy crisis, his contrarian investing roots, a cash-on-cash-focused investor base, and advice on compounding experience and relationships over time.
Show Notes:
00:00 Why Build LivAway
02:08 Extended Stay Explained
03:19 Who Stays Here
06:41 COVID Proof Demand
11:20 Fixing A Broken Product
11:58 Vertical Integration Edge
14:41 Contrarian Origin Story
17:21 Underwriting To Conviction
26:28 Investor Mindset Cashflow
29:52 Childhood And Football Drive
34:48 Doubters As Fuel
36:53 Why This Niche Wins
37:49 Base Hits Not Home Runs
38:31 Nature Versus Nurture
40:01 Hard Work Childhood Lessons
45:04 Work Smart And Risk
46:46 Contractor Bankruptcy Crisis
51:24 Paramedic Walk Leadership
53:31 Riots And Broken Waterwalls
01:00:27 Live Away Growth Vision
01:03:35 Compounding Career Advice
01:07:29 Final Wrap And Where To Follow
