Owning a Hotel or Motel
Consider whether you're interested in buying a large hotel or a small B&B. Determine whether you want a private owned establishment or a franchise.
Location is paramount in the consideration of a hospitality business. How many rooms or guests do you want to accommodate at a given time. Will current staff stay on board once under new ownership. Check the condition of the building. You don't want to buy into a building that is a money pit....unless you are interested in renovation.
Ownership of a large hotel, roadside motel, or charming bed-and-breakfast will be both hard work and rewarding. Certainly, it's crucial to investigate the financial aspects of ownership before taking the big step.