How to be successful in hotel investments?
How to be successful in hotel investments? We are clarifying one of the most frequently asked questions by investors who want to own a hotel. In addition, the most common mistakes made by those who want to invest in a hotel and suggestions for those who say they want to open a hotel.
The most important item to consider when investing in a new hotel is its location. Most of the time, they make a mistake at this very point. "where does the hotel open?" While thinking, they find themselves faced with many variables that need to be put up with, and this situation prepares the ground for hotel investors to make mistakes.
How to Choose the Right Place to Build a Hotel?
What is easy may not be right!
Consider an investor who has land large enough to build a hotel. This investor may first want to build his hotel on the land he owns. However, attempting such a thing without a detailed feasibility about the land and its location may lead to not very good results for the investor. Therefore, a feasibility study should be done first. A decision should be made based on the end of the study. If necessary, the investor should sell the land and buy land suitable for building a hotel.
How is it decided to build a hotel?
If the data obtained through feasibility can really satisfy the investor, the project should be started. So much so that everything can go better than planned, or it can go the opposite way. For this reason, it is essential to reach satisfactory real data in order to take the least risk.
How to Determine the Budget Required to Build a Hotel?
It is useful to start from the budget required for the relevant project. When acting according to the investor's budget, it is possible to stay below the required budget. In such cases, it is a factor that prevents the project from gaining momentum.
Unless a vehicle stuck in the mud can get the necessary instantaneous power at once, you cannot get out of the place where you are, if you want, press the gas little by little until the morning. The size, star, guest capacity and various units of the hotel you want to have are determined according to the hotel needs in the region. In how many years the investment will come back to you, the investment costs and the duration should be determined at the very beginning of the project.
What are the Advantages of Getting Stars for Hotels?
While making a hotel investment, the star and classification should be clarified while still in the project phase. All star hotels, which are affiliated to the Ministry of Tourism, give confidence to people. With the inspections of the Ministry, hotels that continue to update themselves and try to surpass their competitors will offer various advantages to their guests. In addition, the star number of the hotel and the quality certificates of the hotel ensure that it is preferred by tourism agencies and corporate companies.
We have touched on some of the issues that are necessary for you to open a hotel, but there are still many more details that you need to know when opening a hotel. For this reason, getting support from a professional will increase the likelihood of your investment being successful. The firm from which you receive consultancy should save you from wasting time and money with trial and error. In addition, if you are a new hotel investor, the mistakes you know to be true will distract you from going to the desired result. As My Otel Danışmanlık, we want to add new ones to our pride by managing your budget correctly and signing successful hotel projects for you.
What Can We Do for Your Hotel Project?
We provide qualified information to the investor for a new hotel.
We follow and guide innovations related to investment incentives and support programs
We meet the management consulting needs of an already operating business.
We manage personnel training and evaluation processes.
We carry out investment integration activities for national - international brands
Call My Hotel Consulting and get information about the processes. Click to get in touch.
