How much does it cost to set up a Hotel?

[Hate2Wait]

Having a Hotel is always my dream and through it, we can make a lot of money but it requires a lot of money too. If I can somehow manage land, How much capital would I require to start a Hotel?


How much does it cost to set up a Hotel?

 

[AmazingJob]

Setting up a hotel, if it is a new building, you at least $1M to build one. How about maintenance of the building?

 

[Sanjeev]

@AmazingJob and the cost increases if you add facilities in the hotel.

 

[AmazingJob]

@AmazingJob and the cost increases if you add facilities in the hotel.

@Sanjee yes, facilities is one thing that people will consider in booking too. Aside from a nice place, they would like to know what are the available facilities in the hotel. What are the amenities complimentary to their reservations. They don't just book a room but also to enjoy the inclusion.

 

[Sanjeev]

While booking a hotel I always consider the surroundings, price and accessibility from the city. I give more importance to hotels if they are on the outskirts and pollution free. It would be a bonus if I can find good restaurants outside the hotel.

 

[Hate2Wait]

Setting up a hotel, if it is a new building, you at least $1M to build one. How about maintenance of the building?

Yes it's a good option to buy existing one if it's available at lesser price as many people start but they are unable to continue

 

[fcbetting]

Building entire hotel, fill it with equipment and furniter would cost you over 10 000 000$. Plus if you need land and you need money for workers. Maybe better start turning your home into apartments.

 

[Starmix]

Having a Hotel is always my dream and through it, we can make a lot of money but it requires a lot of money too. If I can somehow manage land, How much capital would I require to start a Hotel?


How much does it cost to set up a Hotel?

You need millions, of course, materials alone, manpower, land, water, electrical installations, TV sets in every hotel room, toilet in every hotel room, food center, and more.

 

[AmazingJob]

You need millions, of course, materials alone, manpower, land, water, electrical installations, TV sets in every hotel room, toilet in every hotel room, food center, and more.

There's a lot of stuff to thing about. Million dollar is what we need in order to build the hotel. It is not easy but it is not difficult if we have the resources.

 

[cherry123]

it will take one up to 500,000 Naira to set this up. You need a good capital though to set up businesses in Nigeria.

 

[saoussen5765]

Hotel business is not working well due to the pandemic.

 

[cherry123]

it depends on the country you are. Pandemic is almost over In my country so the hotels are safe to be used now.

 

[Starmix]

There's a lot of stuff to thing about. Million dollar is what we need in order to build the hotel. It is not easy but it is not difficult if we have the resources.

Money is the only solution of everything. It can solve problems and di business no matter how big the capital is.

 

[cherry123]

When once it comes to establishing a business, it Is good to have a good starting capital and you can establish any business.

 

[AmazingJob]

Money is the only solution of everything. It can solve problems and di business no matter how big the capital is.

Yes that is correct. Money can do the solution. We cannot buy things if we don't have the money to begin with.

 

[cherry123]

Likevwith hotel business you would need money as the business needs to be furnished to attract top customers so it might need a good startup capital.

 

[Reedex]

The amount that you're going to spend will depend on the type of hotel and how sophisticated you want you to look.

 

[eldavis]

If you are talking about a standard hotel, it would definitely cost a lot, cause besides the rooms you would also need to build event centers, and probably a restaurant.

 

[cherry123]

Yea a standard hotel will cost high money as a lot of things will go into making the hotel as great as it should be. so it is expensive to establish

 

[Hate2Wait]

A hotel business will require a lot of money and you need to have a big team to manage everything from cooking to laundry and other important things so it's not possible to plan such a thing with low investment