The hotel business is booming, with more people travelling abroad and going on holiday than ever before. This brings the need for more hotels and accommodation, and more people entering this business. If you’re a business owner looking to start a new venture, or you just fancy a career change, it’s something you could look into.
Whether you want to invest in building a hotel from scratch or buy an existing one, the opportunities are endless. You could even start a small guesthouse from your own home. Whatever you decide to do, there are several things to bear in mind before you begin. This article will run through a number of key points for you to remember before you begin your venture. Good luck!
– Stand out from the crowds of competition, and focus on one area
There are 45,000 hotels in the UK alone, so worldwide, the number will be astonishing. With such huge amounts of competition comes a lot of businesses being swamped, so make sure you aren’t one of them. Consider what crowd you’re marketing to, and build your own niche!
For example, will you focus on the bed and breakfast crowd? They’ll typically only stay for one night, so won’t require amenities like a pool or laundry washing. It’s likely that they’re visiting the surrounding area. So, contact local attractions to have adverts displayed around your hotel.
Or, if you want the focus to be on family holidays, partnering with an entertainment company will be a good idea. You want attractions that will keep people in the hotel, increasing the likelihood of them spending money at the bar and reception. At the same time, be conscious of guests that may be sleeping or having an early night. Keep all entertainment as quiet as possible after 9pm to please everybody.
– Stock up on quality equipment
Every business venture requires the use of specialist equipment, and the hotel sector is no different. Whether you’re a small home-based guestroom or a multi-storey complex, you’ll need some resources to make the job easier.
For starters, you’ll need a supply of fresh towels and soaps every single day. If you’re thinking about opening a big hotel, you’ll need bellman carts and an elevator to transport luggage quickly and safely. Remember, your guests want to feel at home, so give them everything they’ve got at home! They will have spent a lot of money to get to your hotel, and to stay in it, so bear that in mind. If you want to enter the hotel business, you have to be ready to spend money before you make money.
– Don’t forget, you’re putting other people first
Speaking of your guests, they’re the bread and butter of your survival. If they aren’t satisfied, they won’t come back – and you’ll fade away. Have an idea of how you would like to be treated at a hotel, and treat your guests in the same way. Customers expect the highest of standards in any industry, and hospitality is no different.
Since you won’t be on the hotel floor, impress upon your management and staff the importance of due diligence. If you give a customer a wonderful, enjoyable time at your hotel, they will come back, again and again.
Thanks for reading! If you have a business mindset, you might be interested in starting your own healthy food cafe!