Does anyone know how to go about puchasing a hotel and getting it up and running?

Question

I have passed a few buildings which used to be litle hotels and was wondering what type of investment the would be.

Answer 1

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* A Survival Guide for Hotel and Motel Professionals by Karen Levine, Alan Gelb
* Check In; Check Out: Managing Hotel Operations (7th Edition) by Jerome J. Vallen
* Buying and Running a Small Hotel: The Complete Guide to Setting Up and Managing Your Own Hotel, Guest House or B and B by Ken Parker
* 100 Tips for Hoteliers: What Every Successful Hotel Professional Needs to Know and Do by Peter Venison
* How to Open a Financially Successful Bed & Breakfast or Small Hotel by Lora Arduser

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!