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Basic points you should think about when moving into the hotel business

Running your own hotel is a very stressful business. Even those with plenty of experience working within a hotel environment can find that making the jump from working in a hotel to owning and running one is a difficult move.

However, you should not be put off by this. If it is your dream to run your own hotel, then go for it, but if you do not have any previous experience in the hospitality sector, you may do better to start on a small scale rather than jumping straight for a mansion. Here are some of the basic points that you should keep in mind when thinking about running a hotel.

Choosing the right property

When you are thinking of purchasing a property purely for running a hotel business—regardless of whether it will be a large luxurious affair or a small and friendly family-run hotel—it is important to ask yourself if the location you are looking in is right.

If the area has tourist attractions, your hotel already has a customer base waiting. However, if the property you are looking at is out in the middle of nowhere, you may have to carve out your own. If it is a large property, you could hire rooms out for local businesses such as hairdressers or beauticians to base their business in. This means that you would then be able to offer these services to your paying guests, which could make your hotel a more desirable location for some people. Also, if your property has extensive grounds, there will then be the opportunity to have facilities such as a swimming pool, tennis courts, or—if the land is big enough—a golf course.

Protecting your interests

When you have found the right property for what you want to be able to offer your paying guests, it is within your budget, and you have managed to secure it, the next step is to get those contractors in that will be able to make your dream hotel come true.

It is prudent to hire the services of an architect to manage your project for you, but it is not a necessity. Should you wish to save money, you can project manage yourself. This will put complete control of the renovation into your hands, and if you choose to do this, there are some major areas you will have to think about.

It is very easy on building sites and renovation sites for accidents to occur. Obviously, everybody likes to avoid risks, but it is highly important that you protect yourself, your investment, and your hired contractors so that should an accident or damage occur, you are fully insured to be able to cope with the consequences.

Making sure your guests are happy

When you are putting the final touches on your hotel, it is important that your guests will feel comfortable and will want to return again, as well as recommend your hospitality to their friends and families.

Adding the touch of luxury may not cost as much as you think but could make your hotel stand out from the crowd rather than being drab and more like a nursing home interior.

Employing the right personalities for your workers is another area that can be overlooked, but one that can give your hotel a thumbs up or a thumbs down from your customers.