(Bloomberg Businessweek) — Editor’s note: This article is part of a package about entrepreneurs who are trying something new.
After more than two decades building a residential rental business in Philadelphia, Amy Santana and her husband Nick were ready to switch gears. She says they were increasingly frustrated that the city’s government was making it difficult for landlords to survive, and they were looking to spend more time with their children. “Child care, as you know, is outrageous,” she tells Businessweek.
In 2015, the couple bought a highly distressed hotel in the island resort town of Wildwood on New Jersey’s shore. They started renovating the 22-unit property in 2018, investing everything they had to transform it into an 11-unit boutique hotel, including buying an additional property for overflow parking to