
- 256 pages
- English
- PDF
- Available on iOS & Android
How to Buy and Manage Your Own Hotel
About this book
* User friendly, practical and informative - written by industry experts; * Provides a clear toolkit and action plan for those looking to make the leap into ownership - from getting the finance in place to successfully marketing and staffing the business;* Case study examples with practical advice from industry experts who have done it' themselves. Hotel keeping is an arduous profession. It needs technical, managerial, marketing and economic expertise; what's more, it demands total commitment. This book provides the complete purchasing toolkit. It removes all the complications and mystique and guides readers around the pitfalls of ownership, saving much heartache and expense. 'How to Buy and Manage Your Own Hotel' takes readers step by step from the time of their initial interest in buying a hotel to the day they take over – and beyond. Complete with sound bites and advice from industry experts who have first-hand experience of ownership, it unravels the purchase process - and much, much more: * Why location is key – and how to use the business agent to maximum effect;* What type of hotel to buy – and where; why franchising is so important;* Raising the finance and the critical importance of understanding the accounts;* Why good marketing will dictate your success - and how to take advantage of social media;* How to lead, motivate and communicate with your staff – your biggest challenge!
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Information
Table of contents
- 1 Hospitality – what’s it all about?
- 2 Some basic facts
- 3 Franchising and branding: where the challenge lies
- 4 What kind of hotel will suit me best?
- 5 Location, location and location
- 6 Using the business agent
- 7 Is the business sound?
- 8 The importance of occupancy – and interpreting the accounts
- 9 Is the purchase feasible?
- 10 Raising the finance
- 11 Finding a good lawyer and some legal points
- 12 Taking over
- 13 Budgeting
- 14 Sole trader or limited company - and some legal points
- 15 Starting from scratch - some thoughts on conversion
- 16 Building up the business
- 17 Boosting your sales
- 18 Harnessing social media to your business
- 19 What to do about the restaurant?
- 20 You and your staff
- 21 Keeping up the investment
- 22 What of the future?
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