Unless the hotel is not insured because when it is gotten by fire, a million losses are inevitable to happen. It could be a lifetime business if cared for and managed well, if not, people who like to stay may get discouraged if see the hotel dirty and the beddings and pillows bad looking. What is your impression once stay in a hotel ? What is the first thing you will check? usually, the cleanliness and the accommodations.
Is operating a hotel a lifetime business?
- Thread starter Starmix
- Start date
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- #3
That is right, if I only have a million capital, I surely operate this kind of business.
Yes it should be if managed properly. Hotels even outlive the first founders. The bottom line is that there must be a proper management in place.
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- #7
A hotel that is abused by the owner soon will turn down. The users need a clean hotel with good services. The food must be of good service too. It's one best experience the hotel occupant cannot forget, the food service that's superb.
Who knows? It will happen in the future. If I can only win a lottery, I will surely have this business. Let me try to play lotto tomorrow. I might have the luck of having it.
Any business that has to do with real estate is surely a lifetime business. Hotel grows in reputation overtime unless it is not managed well. It gets more profitable as the years roll by if it keeps on upgrading.
Location is a very big consideration for anyone that is starting up a hotel business because if your hotel is not situated in a place where clients will have good access to it, you will find it very difficult to have those that will make use of your services.
I like this business too because it is very profitable. I wish I had the money to start this type of business.
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- #13
Yes, we do not know what lies ahead of us, luck or no luck. The Lotto thing can be a chance to become rich if life is good to us. This day, I read the news two retirees won Lotto. The two of them received 78 million pesos. They are lucky, hoping their relatives won't abuse them.
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- #16
It is a very good business and it is good as a passive income, it seems like living in interest with the income of the hotel. How good to have an investment like this. We only lack millions capital.
