The Hotel Business – Tips for Start-Ups

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Starting up a hotel can be a challenging yet rewarding one. As tourism keeps rising, tourists and locals with varying budgets are in search for places to stay. So a hotel business will not fail you, provided you know what you have to do. Here are a few steps in brief as to what it takes to do this.

Budgets and plans

Once you have taken up the initiative of starting a hotel, you will need to analyse your finances and budgets to see what scale you can take it to. Prices would range on the location of your hotel as some areas are solely vacation attractions. If you are starting a small scale guesthouse, you will want to find out where tourists and sightseers visit the most. For a bigger or chain business, you have to find a spot where there are businessmen, wedding locations, seminars and other events. You can opt for loans as long as you are confident that you will be able to pay it up in the given time period.

Building or reconstructing?

Some may want to buy an existing hotel and build it up from that spot and some of you may want to construct a new one. Buying will be considerably cheaper as the initial building costs are already done. This is only if the property does not need major renovations. Generally, the old hotels come with the staff and facilities as well. Thus, you might be able to buy that off and it saves you from hiring and purchasing new staff and amenities. Building from the bottom is also a good option only if you have the funds to do so. This would open you the choice of building it in a specific manner, for a specific niche. However, common features for both can be installed. New furnishing, central heating systems, pools, event halls, sports arenas and many more spaces can be added.

Furnishing and features

Once you have developed or built a hotel the next step would be to purchase furnishing and fixtures to suit the inn’s needs. The basic amenities like beds, tables, chairs and bathroom supplies will have to be bought for every room. Some have special features like grand suites or rooms with extra facilities, these will need to be considered as well. If you plan on having restaurant services, consult with a hotel management company and if you surround a cold area, you might want to set up central heating systems. Additional structures like pools and courts can be added as well. Ensure that the electricity, plumbing and other necessaries function without a glitch in order to avoid negative complaints from visitors.

Advertising and marketing

After everything is in place, spread the word of the new venture by having an open day for families and friends, inviting special guests, opening websites and other advertising methods. Give out your brochures to nearby companies so that they send their partners for business stays. Offer complementary food and facilities for visitors and ask them to visit again with other friends. Having external seminars, weddings and parties will help the attendees to explore your hotel and drop by for a stay.