Subscribe for Updates

Read Endeavour Magazine

Coffee Break

Starting A Hotel Business: What You Need To Consider

(image: pexels)

There is never a bad time to think about getting into the hotel business. People will always need somewhere to stay when away from home, so careful planning should guarantee you a decent revenue. However, there are some important things to consider within your planning. Allow this simple guide to help you make some of the right choices  if you are considering a future in this business.

Research

For starters, what kind of lodging are you thinking about? A hotel is suited to holidaymakers and business people, normally situated within a town or city, while a motel is located near a highway, a respite for weary motorists. You should also consider the other lodgings running in the same area. While healthy competition is fine, you don’t want to set your hotel up in an area already oversaturated with places to stay.

Research is key, as is finding the right people to help you. Dalwadi Hospitality Management are specialists in the hospitality business and will help you in every aspect from construction to hotel management. You don’t need to go into this business alone as you may find it overwhelming. Get the help you need to ensure you succeed.

Finance

It doesn’t matter if you are planning to build a hotel from the ground up, or are renovating an existing building into a hotel. There will be a significant investment, and this isn’t confined to building costs. We have already mentioned some of the essential aspects of running a hotel, and you need to budget these into your planning. Eventually, you will turn a profit, but you need the capital to make your hotel stand out in a very competitive field.

Customer experience

Think about your own experience in staying at a hotel. Use this as a starting point when you think about the service you want to provide to your customers. You need a polite and courteous manner, and so do the staff you hire. Rooms need to be cleaned and maintained regularly. Many people expect free wi-fi, as well as room service and meals provided within the cost of the stay. Think about the needs of the customer and aim to deliver an outstanding service which will encourage them to come back again. Sites such as Tripadvisor allow users to write reviews of places they have stayed. You want good word of mouth, so be sure to put your customers first in your planning.

Online presence

Most business owners recognise the need to have an online presence, and it’s particularly important within the hotel industry. Your website may be the first port of call for prospective customers, so ensure it is easy to navigate, with bright and colourful photographs representing the service you are offering.

Include testimonials from other guests as this will encourage new customers when they are looking for somewhere to stay. Also, ensure prices are listed clearly, and perhaps offer discounts when booking online. You need to be better than the competition, and your website is the starting point in attracting custom away from your rivals.