Investing in A Hotel?
This year, a few investors I know are interested in purchasing boutique hotels or small chains…
Has the hotel business fully recovered from the blows it took during several lockdowns?
Yes, the demand for staycations allowed many operators to recover…
BUT
The corporate market is still in an odd situation.
> What to think about when investing in the space -
📌 Have a viable Plan A and Plan B in place, such as converting the building into self-contained studios to sell-off.
📌 Do some preliminary research. Obtain feedback from a variety of sources, including a planning consultant, a hospitality management firm, a broker, and a tax expert, as well as a recruitment partner and a commercial lawyer.
📌 Choose a high-demand area for your Plan A and Plan B.
📌 Become completely familiar with your target market.
📌 Be realistic about your contingency plan.
📌 Become familiar with the industry’s legal and regulatory framework.
📌 Ensure that your management staff is up to the job.
📌 Don’t rush into a costly (and maybe disastrous) rebranding exercise.
📌 Prepare your exit strategy in advance.
