YouSaid · the spoken record

Liz Lambert

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132
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2018-06-14
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2018-06-14
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  1. “It is a big deal. It's an interesting. We could talk for hours about that too. I think it's about to change yet again. I mean, it would have changed, and it would have grown and everything is always changing and neighborhoods are always changing. But, you know, I think we're about to see a whole next wave of South Congress happen.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  2. “When you're sitting there, you can see it, it's kind of blue on the corrugated so it doesn't bounce out. Maybe we need to repaint it. But it's been there since we opened. It's from, I think, Mexico City Blows.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  3. “We do over down by the San Jose and the Austin Motel, there is a big billboard, but of course we rented two advertisers. But on the side of, there are a couple things on the side of Joe's. One is that iconic, I love you so much that people take pictures of all the time. It's a longer story. But on the back side of Joe's, there is a quote from Jack Kerowac that says, don't break your tenderness. And I love that quote. I think that's a good thing for everybody to remember. Break yourself.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  4. “Of realizing that there were rules and there was authority and the honor system was what this whole system was running on and it was a system I was a part cog and wheel in and I realized that he was really proud of me because I'd grown up with brothers and with a whole community that really believed that you didn't rat on somebody else. You didn't call somebody out. I was right to remove myself, but I think there was a whole system of belief that I grown up with that it would have been wrong just to run and tell on somebody else. And I think it was the first time that I, you know, over the years in looking back at it, I think I learned more from this thing going wrong than I would have learned from it going right. And it was about questioning systems and questioning values just because somebody says this.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  5. “Whoever our supervisor was, and she said, Did you know they were drinking? And I was like, yeah, I knew. And I left. What turns out that the whole thing was running on the honor system? I'm sure I knew that at the time. And because I did not report them, I was kicked out and sent home with them. And by that point, they knew that I had won the election for youth governor of state of Texas, which meant that in the next year you were going to go to nationalism, you would do all this stuff. But instead, so the morning of the announcement went to the next person in line and I was sent home on a bus with them, you know, sitting with them. And when my mom went to report to my grandfather, what had happened? Because he was following play by play. He said, Tell Liz, we're really proud of her. And to me, that was this formative moment.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  6. “In government week, and they do it at the Capitol, and they do it in the chambers, so in the Senate and in the House of Representatives, and it's right after the real thing has let out. And so it's really awesome because you're in these great big hallways and all that kind of stuff. Anyway, I ran for Youth Governor, and the night that I already taken the vote, we're staying in a hotel right over here, not far from here at Alda Quinta over there, and I was staying in a room with three friends who were there for the party, for sure. I was very serious, they were there to be in Austin. One of them had an older boyfriend who lived here in Austin, so they started drinking in the room. And I knew that we weren't supposed to be drinking in the room, and so I left the room and went and visited some other friends down the hall. They got caught. And I got called to, you know.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  7. “Sophomore junior high school. When I was a senior in high school, I ran for youth governor of the state of Texas, which was a big state, but you had to run on a local level and then you had to run at a regional level and then you came to state. And my grandfather at the time was a rancher and one of the men I admire most was at the time older and I think at that point he had broken his hip and he was in bedbound at home. But as I ran for youth governor, I would read the paper with him on a pretty regular daily basis, if not every other day, and discuss current events and current issues. It was an awesome period of time having those discussions with him. And we came here to Austin for the”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  8. “I've felt so often, and I've been successful very often too. I think if it were a formative favorite failure, and again, yeah, sometimes don't we all feel like we're beating our head against the wall. And why am I doing that same thing over again? I mean, that's a whole, I think I'm still doing that. That's a whole other subject. But when I was young, when I was in high school, I was in, there was a thing called youth in government. And from all over Texas, they did it in other states as well, but you would learn about government by this kind of mock government thing. And it came through the YMCA tour, and there were like little social clubs and all of that. But you think government was something I got involved in probably when I was this.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  9. “The impermanency of things and learn how to live in the moment or on the roiling sea, and live with that discomfort, it's a life changer. And so when things fall apart, I realize just in saying all that Joan Dennium book slouching towards Bethlehem is taken from the same poem, the Yates poem, slatching towards Bethel, what's it called? Is it slatching towards Bethlehem, right?”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  10. “Get to that next perfect place, it would all be okay. Like if we had the next job, or if we moved to this new city, or if we just had this relationship, it'd all be okay. And then as it turns out, when you get to that place, lo and behold, on the next horizon is you feel uncomfortable because you need this next thing. And it's really the idea of, again, the journey is a destination, being able to on the way to that island, rowing across the ocean, you need to find comfort in being on that boat in the rolling sea. The idea of impermanency and how I think anybody who's lived their life with loss or death or anything of the sort understands what a jolt it is to understand that things aren't permanent and that when we do accept”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  11. “Pima children, for those of you who don't know, is a Buddhist monk who became a Buddhist monk, I think probably 30 years ago, when she had, when her husband, she found out her husband was having an affair and he left her and she was left in this place of what to do about that. And she kind of accidentally found her way into Buddhism. But to me, it really revealed this struggle we have day to day of in the face of anything, loss, adversity, all those kinds of things, how much how we tighten up and struggle or we get angry or we get bitter or we just continue doing the same things over and over that don't necessarily work watching TV, movies as an escape, drinking, even exercise sometimes. Whatever it is we're doing and how we always think if we would just”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  12. “So things fall apart. I think it's been important to me. I've given to people in my life because it had an impact on me. But it's, I don't know, I could be wrong that it was Pima Chodrin's first shot across a bow. I mean, it might have been the first book she did. I don't know if that's true or not. But it was really my introduction into”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  13. “I'm keeping a notebook. There's one called On Self Respect. There's one on morality. But it's an awesome collection of essays in their other books by Joan Diddian, but that's one I tend to gift the most. You know, the other one I'm sure people mention to you. I can't imagine they don't is when things fall apart by Pima Children. Does anybody recommend that?”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  14. “I forgot about that. I gift a lot slouching towards Bethlehem, a book by Joan Dideon, which is a collection of essays that I love that book so much. It's a lot about what the kind of writing Joan Dideon is doing. And those essays are both, you know, of the time there's one about John Wayne, there's about California, but there's also this collection of personal essays she does, one's called On Keeping a Notebook that I go back to again and again and I share a lot. There's one called Onboat.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  15. “I was trying to think why was that book so important to me? And it was really funny when I read Cheryl Straed's. Wild. That was one of the books that was most important to her that she had as she hiked the Pacific Rim.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  16. “I love that you asked that question that way because it really puts it in a different perspective. It's like not what your favorite book is, it's what you've given his gift, which I thought about a little bit this morning. And I mean, it's so clear. I have an immediate answer. And then I had to think, why did I do that? But I think when I was younger, and still to this day, I sometimes gift a book of poetry by Adrian Rich called A Dream of Common Language.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  17. “I'm not against money, and it's super important for a business, and it's super important for the people you work with and for and all those things. It's just the means to the end, you know.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  18. “Young enough to be pregnant, clearly. And that's a whole other life change. Also, again, when you see, you know, I do am a big believer in the realization of mortality. I mean, all those things really point me in the direction of living quality life in relationship to other people. In those ways, I think you find meaning much more in a much more real manner than you find meaning in making a lot of money.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  19. “Absolutely. And so true. It's tricky. No, it's such a balance and it's a struggle in a way. It is, but you know, some of their outside pressures, they're inside pressures, but it's a really good question because I'm in the middle of it right now. And I have lots of thoughts about it, but it could go on and on and on. But I do know that I could get hit by a bus tomorrow. And we all could. You're not going to care about that IPO five years from now. My wife is pregnant and I'm older and she's”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  20. “And in this business, I think, and in this day and age, people just mindlessly want to grow and explode. The bigger you are, the better you are, the more people know about you, the better. But I think that a lot of the qualities that you appreciate in day-to-day living become lost. I think one of the reasons we're successful as a company internally at least is because we are like a family in some ways. And so how much can you maintain that as well? I guess the answer is I don't want to mindlessly grow. I want to thoughtfully grow. And that may not be at the pace that a lot of companies. Would want you to grow. And it's also about the end game, and I don't think my in-game would be to grow really fast and to sell the business, which you find a lot of brands want to do now.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  21. “You know, I think you asked me about what are the next three five years hold, what's my plan business-wise or hotel growth-wise. And I feel like I'm at such a crossroads there and trying to determine what's, it's not only what's best for me, it's also what's best for the company, but also the people I work with every day. And so you want to grow because you want to be able to give the people you work with more equity, more chance for more of a chance for higher fulfillment, moving into other jobs, just all those things. I think that we have a natural propensity toward growth. But then the question becomes how fast and how much and what is the end game there.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  22. “Yeah, yeah. And so you can depend on that. I read something from, I was look the other day, I was looking at some stuff about why musicians and hotels, you know, why that love story and they're interdependent in one way or the other. And somebody was saying, I don't remember it was probably Keith Moon or somebody who was well known for just totally trashing hotel rooms. It's like, yeah, it's the fifth, you know, it's the 20th fucking holiday in, you know, we've woken up in, and just as many days, and they all look the same, anybody would be mad at it. But that time began to change with what we think of as a batique hotel or a lifestyle hotel from Schraeger to Chip Connolly.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  23. “And you're growing a brand. And that's easier or much easier when you are a Marriott and you're going to be the same everywhere. And you have, and there was a time in hotel business that, or a time in hotels, and those of us as consumers of hotels wanted that because before that you could take a trip across country and all these hotels were independent and God knows what you might find or it might be delightful or it might be horrible and there was no way of judging the quality of a place. And then we guide Hilton's and Holiday Inns and what was great is that you could you knew what to expect. You knew the level of service.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  24. “So, you know, can you have a good life and have employees who are invested in that business and also keep an asset And have it, you know, I'm gonna digress for a second, but the hotel business as we know it today is a result of a lot of things, but we've come to a time where most hotels are not owned by the management company. So you have a group of owners and you have a management company that is a brand. So from the four seasons to the Hilton, you name the Marriott, whatever it is or even Ace, those guys over there, great friends of mine. Every ace you look at is owned by a different ownership group. And you can talk all day long about why that is. A lot of times a management company wants to stay asset light because the hotel business is in waves. So you don't want to get caught in a downturn owning a property.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  25. “We live in a time where you have hotels that they're redone every seven years or every five years. There's a big repositioning or whatever. The most interesting places to me just get better as time goes on and layer upon layer and texture upon texture.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  26. “I'm a bit of a journey as a destination kind of person. And so I think that I'm both doing, if I grow at an enormously rapid pace, if I push not only myself, but my team to grow as fast as possible, we're not going to do the quality of work that we want to do. And while we might have a higher value in five years as a company, I don't think that the end game is to sell. Larry Maguire, I think, believes the same thing I do. And a lot of people that I look around at, and I'm interested in their careers and their lives, also are people that are interested in what they do from the people they work with day to day. And creating an asset like a hotel that can just get better over time rather than say...”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  27. “It's such a crossroads right now, really, about this. You know the pressure in business, and the bigger your business gets is to grow, grow, grow, and then sell it. That seems to be, you know, I wonder if we'll be 30 years from now that won't be the thing or if it wasn't 50 years ago. We live in a time where it's about growth and making your business worth as much as you possibly can and then selling it. And to me, it makes no sense in the world to me because”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  28. “It begins anew every day, in a way. And so to create a guest experience that is right for that hotel takes constant vigilance in a way. And that is always going to translate to the bottom line. I mean, we don't market most of our hotels in a certain way, but people market them for us. Instagram is obviously great. And so are a lot of other social media platforms. But we get a fair amount of print as well. And that comes a lot not from us necessarily pitching stories, but for people becoming real believers in what we do. And so I don't know if I'm really answering that question except to say you have to have both things, whether it's you doing it or someone else that believes in your vision and you believe in theirs. You've got to have both the Artistry in the beginning and the good practice practice to continually tend the fire.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  29. “To me, if you don't, people make hotels, people design hotels, and then they walk away. And so that is always going to get diluted over time. If you don't remain involved in the experience or what your vision was in the first place, then what you created is not just an object. It's a living breathing thing that has employees, people that work there that spend their lives there. It has guests that come and go as part of an ever-evolving community. And it has people that have part of ownership in the place. So I think your vision is not complete if you just create something and walk away. It is in other genres of art, but in a hotel or in a restaurant.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  30. “Right. It's a really interesting question. I mean, it's such a balance. I mean, it is, Larry's actually very good at what he does. Larry has several restaurants here in town, and I've known Larry since he was about 16 and started work for my brother. But Larry is one of those rare people that understands both, again, rigor and operations, which is going to be really important at the end of the day for somebody to have the right experience and the artistry of creating an experience.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  31. “I think that Chip was influential from early on about operations and how important not just your guest was, but your employee and your investor as well”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  32. “Other people Actually, our head, our president now at Bunkhouse, I worked for Chip for 10 years, a guy named Christian Strobel. And, you know, it's good, here's the thing, you can be as creative as you want to be and dream as big as you want and create an incredible experience and programming and everything along those lines, but if you can't keep the lights on, if you can't return money to investors, if you can't keep your employees happy, then you're never going to have a successful business. I mean, you've got to keep the lights on. You've got to do a little better than keeping the lights on. But I think a lot of people fell in business because they don't have operational rigor. And that can be a lot of different, that can manifest in a lot of different ways.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  33. “I could have had that conversation now much better. And then most recently, we have a hotel in Baja, California, in a little town called Torosantos, right outside of a little town called Totosantos. That is about 45 minutes from Cabo. And he is the one that got me into that because he had sold his hotel company. I don't know if he had a non-compete or just not supposed to be in the business. And he was very interested in the community. And so he kind of pointed them in my direction. And now we have a really great hotel there and Chip lives part of his life in Tedasantos now.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  34. “I have this motel in South Austin, and I just wanted to talk to you about it click or something like that. Of course, simple. Of course, I think he thought I wanted to see if he wanted to consider buying it. But the fact that he called me back was I have cursed him for from that day to this day because now people constantly, you know, now they email me or in some way ask if I could spend a few minutes and for advice. And you know there just aren't the hours in the day. But he just pops up in my brain every time. Like, what would have happened had he not called back? But over the years, he was one of the first guests at San Jose. He was passing through. He came to see it after giving advice. I went and met him in San Francisco and he looked at my numbers that I didn't really understand and tried to make sense of them.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  35. “Right. Chip has written many books and he often has done a TED talk and is often a lecturer on business and just on being more complete person. And so Chip continued throughout. So the way I met Chip is I co-called him. I bought the San Jose, didn't know what I was doing, had no idea what I was going to do. And I saw his name like in a trade magazine, and so I called him up. Unbelievably, he called me back in about 30 minutes.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  36. “He's still a very young man, by the way, if you're listening, Chip. And the guys from Airbnb tapped him on the shoulder and said, come help us a little bit. And what was helping in an advisory role for a while, he became the head of global hospitality for Airbnb. And along the way, he's written a lot of great business books that we often have our managers read like Peak. And the emotional equation, what is that book called?”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  37. “It was. I mean, like, he really did the whole camp with some friends, and basically you could get food at any point you wanted. There was a full service bar. I had an air-conditioned yard. You know, it was only like six feet across, and it was made out of some kind of building. It was like fold-up. The whole thing folded up into a very small package. But it wasn't a bad way, a kind of in and out.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  38. “Oh, no kidding. It totally was. So that's crazy. The only time I've ever been to Burning Man. That's really funny. I've had one of the yurts that was the fold up. Air conditioned yurts. Of course I did.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  39. “So much over the years. Chip is a mentor to this day. As I'm last week, for those of you guys who don't know, Chip started a hotel company called Joa de Viv that was based in San Francisco. And he started when he was fresh out of business school, probably early 20s. The Phoenix was his first hotel, which was a motor court, not unlike the San Jose or the Austin Motel and was a favorite of bands on tour, musicians, that kind of thing. Chip continued to grow a very successful hotel company and decided at some point in his around fifty or so, I don't know how it was Chip when he sold Rod of”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  40. “Yeah, totally. You know, they say in the service industry good recovery is going to make a bigger, more loyal guest than if you hadn't fucked up at all. That's true.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  41. “No, I think we did get him to stay. I think that we went in and cleaned like crazy and disinfected like crazy and remade the rooms all hands on deck completely.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  42. “Made a mistake or had sewage flooded rooms. But there was no hotels to walk anybody. I don't know how he manages. I put it out of my mind now.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  43. “Yeah, exactly. And so hotels, you know, hospitality business is really interesting because hotels really are behind the scenes, usually most likely, want to be friends with each other. You can say it's competition, but you're sharing information all the time. Yield management and what's going on in town just so, you know, a rising tide raises all boats to a certain degree. But you're also going to have to walk somebody sooner or later to another hotel, which means that you're going to pay for their room somewhere else because you've either overbooked or”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  44. “How do you handle that? I don't know. I mean, you know, you have to be on the front lines of it with rubber boots and the whole thing. And again, really, you know, I don't know. It's hospitality. Yeah. I mean, usually people don't know this, but behind the scenes, a lot of places overbook knowing because they're counting on cancellations.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  45. “And so that was a special. And I mean, like, trying to just get people in the doors was the whole point. We opened your in South Southwest, totally sold out, crazy because of course we had something in the waste pipe that was going to the street like an electrical fixture falling down into it. So entire wing of the hotel flooded with sewage. You know, people were running out of the hotel with their stand-up base or, you know, whatever. There was no place to put them.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  46. “Well, right before. It was like February 14th. And I remember February 14th was the first day that we had, so it was Valentine's Day had anybody that actually spent the night in the hotel. And I put a banner outside that we sold rooms for $69 for Valentine's Day.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  47. “Soft tempering is when you invite people to that might be friendly towards you or at a very discounted price to a property or a restaurant and let the staff practice on you knowing there's going to be some mistakes.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  48. “Yeah, okay. But at that time, with a first project, you don't know what you don't know and you don't know. I have a lot more confidence now. I mean, I had confidence then, but not necessarily as a designer. But I remember when we first opened, we opened in March, which is spring break, but it's also south by southwest, which is a huge conference. It used to be more music-centric, but now it's tech and film. And a lot of people descend on Austin.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  49. “Is really hard at first because not everyone was going to get it, and you have to decide if you want to please everybody or if you just keep doing what you're doing and know that intuitively there is something that you will find your audience. And again, I was very lucky in life to be in the right place at the right time because Austin was changing. And when we first opened the San Jose.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT

  50. “Yeah, exactly. And so the San Jose, though, although it's very simple with just wood and concrete, and some people would think of as cold, there's a ton of plantings, a ton of gardens. It has feels really lush and feels sort of like living indoors and outdoors. But we have comment cards and early on I really paid a lot of attention to comic cards, and I'm sure the staff does now. But one of my favorite ones that I had up on the wall for a while was Somebody had written, this is the most expensive fucking garage I've ever seen.”

    2018-06-14 · The Tim Ferriss Show · #320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert · IDENTIFIED FROM THE TRANSCRIPT