Whether you are buying a hotel for the first time or an experienced owner looking to invest in a new business, the process can be intimidating. Although it is usually not easy, entering the buying process fully prepared can save a great deal of time and frustration, making it easier to close a deal on a hotel that is perfect for you. Going into business for yourself or buying a new hotel will undoubtedly require large amounts of commitment and drive to overcome fear of the unknown, but keeping four critical factors in mind can help ensure success when investing time and money into a new business. READ MORE

When the time has come to sell your hotel and you have listed it for sale online, it is a great feeling to receive interest from potential buyers. Let's face it - selling a business independently can be a lot of hard work and a major time commitment, and when people show interest in what you are selling it can translate into a quick, painless sale. Unfortunately, for a variety of reasons communication between a buyer and a seller is not always simple. Hotel owners who list their establishment for sale on the Internet often have to deal with many inquiries from browsers who enter into a conversation without any serious interest in purchasing a business. If hotel sellers are not savvy in how to address this type of situation, they might find the selling process to be longer and more frustrating than necessary. By following some simple communication guidelines when selling your hotel online, you can ensure you don't get caught up in a communication trap. READ MORE

As more and more business owners are choosing to take a do-it-yourself method when it comes to selling, we are noticing a growing number of hotel owners using online outlets to put their business on the market. Unfortunately, we also see many hotel owners attempting to sell online using largely ineffective methods. These situations are usually the result of a lack of research and preparation before listing a business, and can greatly increase the amount of time a business is on the market, can make the selling process more frustrating than it should be, and can result in a much lower selling price. The good news is that if hotel owners looking to sell devote time to researching proper selling methods and follow simple steps, the process can be a breeze. READ MORE

Hotels and resorts are multi-faceted business operations. I recall the last time I was room guest in a hotel. In addition to utilizing lodging services, I ate in the hotel's restaurant. I relaxed at the end of a long day in the hotel's spa. I attended a convention in one of the hotel's conference rooms. As you can see, there are four distinct business operations in the above example. Of course, readers can probably sight several other additional hotel services such as laundry, hair salon, tennis courts and retail gift shops. While motels and hotels are real property assets similar to commercial properties in terms of the location of the specific asset and long economic life (usually 20 to 50 years) they differ from typical commercial properties... READ MORE

Stop anyone on the street and ask him or her to name some familiar hotels. Would you be surprised if the average person could identify three, five or more? Probably not - this is the power of brands. Just like Kleenex and Clorox, name brands for tissue and bleach, a strong hotel brand has the ability to penetrate the target market to such a degree that it becomes recognized as an enduring symbol of the market-specific service standards. This service image cultivates the loyal customer base that is the foundation of a hotel brand's future earnings capacity. The proper identification of a brand's service potential, therefore, is the first step in quantifying its value. READ MORE