Who are you?
The Godfrey Hotel Chicago is Chicago's newest luxury boutique hotel offering 221 graciously sized guest rooms and the largest indoor outdoor rooftop lounge called IO Urban Roofscape.
Why Did you start your business?
The hotel was created because an opportunity in the market presented itself that allowed us to take a calculated risk and create a new boutique brand in downtown Chicago's River North neighborhood that we were able to create from scratch to meet travelers needs and become a differentiator in the market. Being a boutique independent hotel it allows us to define the service, amenities and the flexibility to adjust to our guests needs quickly.
What makes your business unique?
The Godfrey Hotel Chicago offers 4 1/2 and 5 star amenities at great value. Large guest rooms, high quality textiles, various amenities that include 100% free WiFi in the entire hotel, spa, fitness center and Chicago's largest indoor outdoor rooftop lounge (15,000 sq ft). We completed a lot of analysis of competition in the market and found items that we can offer that they currently aren't or how we can offer something similar but in a different way. This provides us the difference that we need to capture market share.
What's the biggest mistake you've made with your business and what did you learn from it??
what big goal do you have for your company and how do you plan to achieve it?
Open at the right time in the market to capture market share, operate profitable and put The Godfrey Hotel Chicago name on the map for travel. This is only the first hotel of The Godfrey Hotel brand and a second one will be opening in 2015 in Boston.
what advice or tips do you have for people wanting to start their own business or follow their dreams?
In order to really move the needle in your industry or the industry you want to enter, risks are always a part of starting from scratch because there is a chance of failure. In the end learn to be a risk taker but not a reckless risk taker, learn to take calculated risks and you give yourself a chance a longevity.