When Andrew Lazarus purchased The Beach Hotel in Newcastle three years ago, he didn’t think he’d sell it so soon.
However, after successfully applying for the DA and making a few renovations, he decided to sell the property after it increased in value.
Mr. Lazarus collaborated with his son to sell the iconic hotel for around $40 million.
According to Andrew Lazarus, the duo decided to sell the hotel because the DA acquisition would positively transform its business in the coming years.
In addition, there had been an increased demand for pubs in the area, and maybe there was no better time to make the sale.
Lazarus noted that the growing pub market happened because of the increased population in the area. As the pandemic became prevalent, more people were willing to spend time in hotels and pubs.
Andrew Lazarus’ Success Path
Mr. Lazarus did not have an easy success path.
While managing The Exchange Hotel, one of his properties in Sydney, he used strategies that made him regret the losses.
However, Lazarus used different techniques in Newcastle and took time to understand the market while managing the Exchange Hotel.
Andrew and Luke Lazarus concentrate on real estate ventures and always learn from mistakes to do better in their new ventures.
They used the lessons to use a different experience when running The Beaches.
When choosing a beachside hotel, the partners spent time learning more about the property and providing the facilities required by visitors and locals.
Although Andrew and Luke Lazarus no longer concentrate on property ownership, they use the renovation lessons to improve their real estate projects to provide customers with high-quality facilities and properties.
Although Andrew Lazarus enjoys renovations and real estate development, he has embraced philanthropy in the recent past.
As he and his partner continue working on various real estate projects, they focus more on giving back to the community.
Learn more about Andrew Lazarus: https://thebossmagazine.com/andrew-lazarus-the-path-of-success/