Up to date, this Colombian entrepreneur is at the pinnacle of the global luxury short-term rental market, generating over $5 million annually. Eight years ago, after enduring a period of profound adversity, Mateo reassessed his life and decided to embark on a new adventure. Today, he is a successful international entrepreneur with years of proven experience and a track record of continuous success.
From an early age, Mateo has been a natural entrepreneur, passionate about the world of business. Born into a middle-class family, he learned the value of hard work, effort, and dedication from a young age.
“Like any teenager, I dreamed of achieving financial success and saw business as a promising opportunity, especially during a period of economic boom in my city, Medellín,” he reveals.
Over time, Mateo recognized the potential of short-term rentals, particularly in Medellín, not only due to the city’s significant economic growth but also because of the opportunity to maintain proper cash flow. “In the short-term rental world, money comes in every time a client uses the service, without the need for subsequent collections that can be frustrating for any entrepreneur,” he explains.
In his current business model, it’s not necessary to purchase the property to rent to guests, which provides significant benefits. Instead, the property can be rented directly from the owner and then sub-leased for short periods to travelers seeking a unique, comfortable, and satisfying experience. This approach offers considerable financial efficiency, flexibility, and luxury, meeting the growing demand of an expanding clientele.
“That’s why, while most were focusing on apartments, I ventured into a less explored market, positioning myself as one of the leading luxury property companies in Colombia,” Mateo adds.
Today, Alta Gama Propiedades SAS is a firm specializing in providing luxury lodging and concierge services in exclusive villas and mansions through short-term rentals via platforms like Airbnb. Its clients come from various parts of the world and include elite figures from the arts, business, and sports sectors, seeking unforgettable experiences in Colombia, including magnificent properties and personalized service.
Overcoming Obstacles
Every entrepreneur knows that the path to success is not without its challenges, and Mateo’s journey is no exception. He recalls that the idea of entering the rental industry came when he lacked the necessary resources, yet he managed to persevere. Later, he faced the challenge of establishing himself in a highly competitive, innovative industry, which he overcame thanks to the added value his business model offers.
But that’s not all. The COVID-19 pandemic also presented an unprecedented challenge for Mateo, as his client base was drastically reduced by 30%. This decrease led to a revenue drop, accompanied by a significant amount of uncertainty. Furthermore, although Mateo hoped banks would be allies during tough times, this was not always the case. He experienced blockages in international transfers and payments due to lengthy verification processes, negatively impacting his daily operations. “This situation only highlights the need for greater flexibility and support from financial institutions for emerging businesses,” he reflects.
He also adds:
“Businesses that endure over time are those built with DISCIPLINE. The path of entrepreneurship is not about getting rich overnight but about facing challenges that only the bravest can overcome. Therefore, cultivating a mindset and healthy habits is crucial for any entrepreneur’s success.”
Differentiating Factor
Mateo and Alta Gama Propiedades SAS stand out in the market by offering exceptional added value. Their properties are of the highest quality, providing a wide variety of villas and mansions. Over time, the company has positioned itself as a market leader, setting the standard for the quantity and quality of available accommodations.
Additionally, they offer personalized service and handle every detail, from security measures to luxury transportation, private chefs, exclusive tours, and more, ensuring their guests an unforgettable and worry-free stay.
Gratitude First
Mateo is not only a focused and deeply humble individual but also immensely grateful. He acknowledges that the pillars of his success are, above all, God, who has given him the strength to achieve success, and his wife Manuela, who serves as a living example of discipline and determination.
Moreover, he recognizes that none of this would have been possible without the unwavering support of his team, which now consists of over 40 direct employees. Without their dedication, integrity, and commitment, Alta Gama would not be leading the luxury rental industry in Medellín.
“You can get there faster alone, but as a team, you go further,” he says.
On a personal level, Mateo is an entrepreneur who focuses heavily on purposeful growth. For him, working on himself and his personal development is a daily task that goes hand in hand with the success of his businesses. He also calls on all entrepreneurs to focus on being rather than just doing and having. “It’s crucial to remember that the essence of entrepreneurship lies in personal growth and serving others,” he emphasizes.
Next Steps
Mateo, a born entrepreneur, believes that this journey has only just begun. He recently launched his new program called “A Journey to Success with Airbnb,” which offers two types of memberships covering essential topics such as professional photography, advanced platform setup, accounting and legal advice, optimal Airbnb listing positioning, and much more.
Additionally, Alta Gama Propiedades is making a successful entry into international markets and focusing on the development of luxury short-term rental real estate projects.
“Now, my goal is to move from simply renting properties to developing innovative projects that make a difference in the market,” Mateo states.
Finally, STREC was born—a security and technology company that will be part of an alliance Mateo has developed with ASOHOST and other companies in Medellín to create the “Good Neighbor” seal. This program integrates various government entities and aims to prevent the sexual exploitation of children and adolescents, as well as reduce high noise levels in surrounding communities through advanced technology sensors. This initiative reflects Mateo’s commitment to social responsibility and the well-being and development of his environment.
Undoubtedly, the future looks promising for Mateo and his team. His adaptability and extensive innovative vision have not only made him a benchmark in the luxury short-term rental sector but also demonstrate his commitment to continuous improvement. With a growth mindset and a strong support system from his team and family, Mateo is more than ready to continue transforming the real estate market and facing new challenges with the same determination that has driven him to success.
Learn more at www.altagamarentals.com and www.mateotoro.co.