The high tech communication protocol and high tech living has all but blurred virtual boundaries globally – which has lead to an exponential increase in the incidence of business travel. This coupled with the increased incidence of pleasure travel would well continue to sustain the booming travel industry – evidently then the hotel industry is here to stay and in the coming years the hotel industry would continue to be one of the most viable of investments!
Options
The hotel industry could well be considered to be booming – regardless not all hotels are a sound investment as is evident to the more discerning of investors!
Physical
The most tangible of parameters being the physical structure – the building – which would need to be meticulously scrutinized using professional expertise to identify and quantify the likes of inventory, fixtures, renovations need and even building repairs before start up operations.
This would then be critical to ascertaining the market price of the hotel before initiating negotiations. Concurrently caution would need to be exercised to ensure that the hotel property for sale has a separate bill of sale for the likes of fixtures and furnishings for clarity of transactions.
Macro scenario
The enterprising investor would invariably seek and ensure procurement of the state authority road map to development so as to ensure that all road and highway renovations are ascertained for it could well make the difference between a viable hotel or a ‘has been’ – to illustrate the case in point – a loop road may well place a hotel located on buzzing highway on a backburner o considering that the very accessibility and connectivity of the hotel could be jeopardized – making the most viable of hotel properties defunct to say the least!
Observer
The more innovative of hoteliers are known to have stayed at the targeted hotel as a innocuous guest for a week – ascertaining the undercurrents and quality of services rendered – for the best of infrastructures could well have the most adverse of services which could scarcely be transformed without a substantial make over of the staff.
The impact would invariably be a phenomenal investment in terms of time and money!
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