|Hotel Owner's Tool Kit

Effective Sales & Marketing for Your Hotel

Marketing a hotel effectively takes a different mindset and skillset than marketing other types of businesses. Essentially, the product you are marketing is also a service, and that service is to offer a "home away from home" for a variety of different client groups. Some of those clients will be seeking a low-key rest-stop between daily tourist activities. Other clients will need a working business center [...]

Effective Sales & Marketing for Your Hotel 2017-06-29T01:57:08+00:00

Cash Flow Management

Cash Flow Management for the Hotel Industry While "cash flow" has become something of a euphemism in a world where most currency exchanges hands digitally, the reality is that managing the flow of your money is of utmost importance in any business. The problem with cash flow is that you often have to pay for things before you are ever paid for your services. If bills [...]

Cash Flow Management 2017-06-29T02:01:09+00:00

Hotel Equipment

The process of purchasing a hotel and getting it up and running can be a long, drawn out process. From obtaining hotel financing to taking stock and doing inventory to purchasing supplies and marketing your hotel, there is a lot to do to get a hotel operating smoothly. Hotel brokers can help you find a great property, but in some cases, you might purchase a property [...]

Hotel Equipment 2017-06-05T19:02:38+00:00

Hire the Right Hotel Team

Congratulations! So now you have secured financing, negotiated like a pro and bought yourself a hotel. This is a significant accomplishment and worth celebrating! But the initial legwork phase is not over yet. Now it is time to hire your hotel management team. You want to build a solid, trustworthy, experienced management team that can competently oversee the many operational functions so critical to your hotel's [...]

Hire the Right Hotel Team 2017-06-05T13:40:05+00:00

Selecting the Right Hotel Partners

So what do you need to buy a hotel? Money, right? For some eager buyers just entering the hotel industry, landing that initial start-up financing often seems like the toughest challenge. But in hindsight, getting the funding you need may turn out to be the easy part! This is especially true if you don't pick your business partners with the kind of extreme care you [...]

Selecting the Right Hotel Partners 2017-06-05T14:07:57+00:00

Securing Hotel Financing & Raising Capital

If you have reached the stage where you are researching hotel financing options, you already have a good chunk of time and effort invested into your new business venture. For our purposes in this section, we will assume you have done your initial due diligence in terms of selecting a viable, promising hotel business to purchase. Now it is time to get down to brass tacks [...]

Securing Hotel Financing & Raising Capital 2017-06-05T14:10:07+00:00

Have a Hotel Exit Strategy

As an aspiring hotel owner-operator, you are in very good company. After all, you are chomping at the bit to enter an industry that generates an estimated $7.6 trillion dollars per year globally! But even the most perfectly planned strategy cannot always predict what may unfold in the future. This is why it is so critical to include an exit strategy as a part of your [...]

Have a Hotel Exit Strategy 2017-06-05T14:13:53+00:00

Know Your Hotel Loan Options

Every day, somewhere in the world, someone is either buying or selling a hotel. And every time a hotel business changes hands, these two activities happen together. So many factors go into getting your start in the hotel industry. Choosing the right hotel (if you don't plan to build your own), hiring an expert team, offering attractive amenities - and, of course, finding the financing you [...]

Know Your Hotel Loan Options 2017-06-05T14:16:49+00:00

Assess Your Available Cash

Assessing the actual cash you have available - and the cash you will need - to purchase a hotel or other hospitality property can be a tricky enterprise. One of the most important aspects of understanding your available cash, however, is how much you can spend within safe limits! Here is a quick guide to help you determine what you need, what you have and what [...]

Assess Your Available Cash 2017-06-05T14:20:48+00:00