The Passport Group is pleased to announce the upcoming launch of the Hotel Owner’s Toolkit: a comprehensive resource exclusively catered to owners and operators of all stages of hotel ownership across the entire spectrum of the Hospitality Industry. Whether you are thinking of diving into the world of hotel ownership or are salty hotel veteran, the always-free Hotel Owner’s Toolkit will be an extraordinarily valuable tool designed to fuel your hospitality endeavors.
Actionable Information for the Hotel Owner
Encompassing the entire lifecycle of hotel ownership, The Hotel Owner’s Toolkit is a community-fueled collection of educational, insightful and entertaining resources. They have been meticulously created to increase the chances of success in a challenging industry. From articles and industry news to infographics, videos and more, The Passport Group and its expansive network of contributors deliver a huge array of actionable information in an easily digestible format. Understanding the super-human demands of the Hospitality Industry, each and every tool we deliver is guaranteed to be relevant, current and to-the-point without talking over the heads of the average hotel owner.
Designed by Hospitality Experts and our Community
The Passport Group is driven by the desire to create beneficial and long-lasting partnerships. As hotel owners themselves, they possess over 60 years of combined hospitality experience including extensive hotel brokerage, hotel finance, hospitality consulting and hotel management expertise. Delivering solid fundamentals and valuable insights to The Passport Group’s clients in easy-to-understand formats is a key reason for the solid reputation they’ve worked over 30 years to build.
With the Hotel Owner’s Toolkit the community is in the driver’s seat. Using a combination of partnerships throughout the Hospitality Community as well as the Hotel Owner’s themselves, the Hotel Owner’s Toolkit evolves with the industry and community through extensive outreach and feedback from each and every reader.
What Does The Hotel Owner’s Toolkit Include?
This easy-to-navigate resource is organized by The Passport Group’s 5 Phases in the Lifecycle of Hotel Ownership:
- Preparing for Sale
- Taking to Market and Sale
Within the 5 phases of the lifecycle, this guide covers the following milestones:
- Do your Homework and Due Diligence
- Creating a Selling Strategy
- Assess your Available Cash
- Choosing a Business Model
- Choosing the Right Location
- Understanding the Financials
- Understanding Loan-to-Value Options
- Knowing your Loan Options
- Creating a Business Plan
- Exit Strategy
- Selecting the Right Partners
- Securing Financing & Raising Capital
- Understanding Negotiation
- Hiring the Right Team
- Hotel Equipment
- Sales and Marketing
- Revenue Management (heads in beds)
- Cashflow Management
- Guest Satisfaction
- Managing your Reputation
- Preparing to Sell your Hotel
- Finding the Right Broker
- Hotel Marketing Strategy
- Finding the Right Timing
How Do I Get Started?
While there are many steps to successful hotel ownership, the first step is the most important. Together with the Hotel Owner’s Toolkit community, get ready to navigate the ever-changing landscape of the hospitality industry with confidence and clarity.