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How to Buy and Run Your Own Hotel
Author Mark Lloyd learnt the hard way how to buy and run his own hotel. He decided to write the book he wished he had been able to find when he first did it. The lessons he has learned and the experience he has gained will inspire all those thinking of a similar venture to turn their pipe dream into reality. Running a hotel is a tough business, but it' also a most rewarding and stimulating one. This book is full of up-to-date information for the aspiring or novice hotelier as well as those already in business and striving to meet customer expectations.If you are thinking about changing career direction and think that running your own hotel might be an exciting and rewarding way of earning a living, this step-by-step guide will provide you with a unique insight into the daily routine of a hotel owner so that you'll know what's in store for you. It covers everything you need to know about the process of buying and running a hotel and shares the real life experiences of its hotelier author. It presents the realities of being your own boss. It shows: how to manage the purchase process and how to finance your purchase. It helps in writing the business plan; planning your first few days of being a hotelier. It shows a year in the life of a hotel owner. It offers an A to Z of practical advice, from accounting to creating your website.
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First published January 1, 1900
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Displaying 1 - 2 of 2 reviews
August 11, 2020
45th book of 2020: A mix of obvious and bad advice.
The author ran a hotel for 18 months and then wrote a book. With precious few numbers and astoundingly mundane anecdotes, this book could be written by somebody who had run a hotel for 18 days. Picking out some quotes at random should be sufficient to dissuade you from reading this book:
On how to manage a hotel: "Having a holiday or even time off will be nigh on impossible in the first couple of years"
On purchase price: "Your key concern should be whether your offer is within your means and at the same time will be attractive to sellers."
On employees: "Making sure that your staff are paid on time is vital."
Notes:
Lender brokers are worth considering in the UK.
Contract needs to include the furnishings not just the real estate.
Book has a reasonable list of questions to ask the hotel owners.
The author ran a hotel for 18 months and then wrote a book. With precious few numbers and astoundingly mundane anecdotes, this book could be written by somebody who had run a hotel for 18 days. Picking out some quotes at random should be sufficient to dissuade you from reading this book:
On how to manage a hotel: "Having a holiday or even time off will be nigh on impossible in the first couple of years"
On purchase price: "Your key concern should be whether your offer is within your means and at the same time will be attractive to sellers."
On employees: "Making sure that your staff are paid on time is vital."
Notes:
Lender brokers are worth considering in the UK.
Contract needs to include the furnishings not just the real estate.
Book has a reasonable list of questions to ask the hotel owners.
March 4, 2020
Overall I think this is a very detailed and well thought out book about how to buy and run a small hotel. It was an enjoyable and very informative read.
Displaying 1 - 2 of 2 reviews