People who travel a lot typically have an equal number of stories regarding the places they’ve stayed in. From horror stories to success stories, happy memories to those they’d rather not think about anymore, there is no shortage of things to learn from if you are interested in owning and operating similar accommodations.
And that sums up the first advice you’ll get from this post:
Perhaps you are well-travelled too, and in one or two of those trips you realised you could do better than the bed and breakfast you stayed in. But to get a better understanding of the business from different points of view, interview people you know who travel a lot as well. There are also those who have worked in accommodations, or those who own or once owned a motel or hotel. The more you know about the business, the better your chances of being successful in it.
Decide on the location
According to Resort Brokers Australia, your location will give you an idea what type of customer you can expect, and perhaps what profit you can make. So when you go looking for motels for sale in Queensland, for example, consider the motels located where you want to do business and for whom. If you want to serve tourists and holidaymakers, your best option would be a hotel located near the local attractions. For people on business, motels near an airport are convenient. Don’t buy a motel in a dangerous part of town, though, because you will definitely have problems, from not getting enough customers to dealing with vandalism or break-ins.
Join an association
Your local tourism or hotel and motel association will get you in touch with other business owners who may be able to help you. It’s not just other motel or hotel owners; it’s other businesses that you can partner with, such as local shops, malls, car rentals, etc. In addition, some associations often offer seminars and training sessions for free that you or your staff can benefit from.
A hotel or motel is a lucrative business, depending on some factors. Follow this advice and be successful in your new endeavour.