Description
Book Synopsis* 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!
Trade Review"Make sure you read this book before you take the next step" Harry Murray, Chairman of Lucknam Park Hotel, Wiltshire "A fabulous read and a must for all those looking to invest in a new and exciting future." Simon Longworth, Managing Director, Regent Hotel, Doncaster
Table of ContentsIntroduction; Section 1: Why, what and where?; Ch 1Hospitality – what’s it all about?; Ch 2 Some basis facts; Ch 3Franchising and branding: where the challenge lies (by Melvin Gold); Ch 4 What kind of hotel will suit me best?; Section 2: Finding the hotel: Ch 5 Location, location, location; Ch 6 Using the business agent; Ch 7 The importance of occupancy – and interpreting the accounts; Ch 8 Is the business sound?; Section 3: The purchase: Ch 9 Is the purchase feasible?; Ch 10 Raising the finance; Ch 11 Finding a good lawyer – and some legal points; Ch 12 Taking over; Section 4: Running your own hotel: Ch 13 Budgeting – what’s your break-even point?; Ch 14 Sole trader and limited company – and some legal points; Ch 15 Starting from scratch; Ch 16 Building up the business; Section 5: Growing your business: Ch 17 Boosting your sales; Ch 18 Harnessing social media to your business; Ch 19 What to do about the restaurant?; Ch 20 You and your staff; Ch 21 Keeping up the investment; Index
