The investor coming from the construction sector is taken into consideration that the cost of hotel construction will be low due to being one of these sectors and will make a very profitable investment with incentives to take. The more the number of rooms, the more money they will earn, starting with a minimum of 150 rooms. Of course, this investment will be a very profitable investment in the beginning of a tourism consultant who thinks and totally out of several feasibility reports will be found absolutely. The investor keeps from the architecture of the hotel with the excitement of taking the money in a very short period to step in a new sector and deposits it buried- it also starts to mess with everything including the opening process of the hotel. In the construction process, a chief opening general manager has taken it, but he never trusts it.
10 Golden Tips for Hotel Investment
1. Defeat your Ego!
Most of the investors in the hotel want to make a 5-star hotel. However, the profitability of 3-4-star hotels is much higher due to the low investment and operating costs. For example, remember that a minimum of 100 people for a 5-star hotel with 200 rooms and a maximum of 30 people for a 3+ star hotel with 120 rooms should be employed. Ego? Is it snow? Give your decision before the deposit begins!
2. In hotel investments, the rule of 1 TL = 1000 TL is known!
This is a golden rule. Do not forget that a successful hotel investment can offset the cost of investing $1,000 / room. If you expect an average sales price of 60 euros per room per day, your investment cost per room must be a maximum of 60,000 euros. Forget about your dreams of “getting a return on investment in up to 10 years”
3. Make maximum use of government incentives!
Take advantage of the investment and business support provided by the state. The encouragement document is very easy to apply. However, when it comes to closing these incentives, it becomes difficult. You cannot reach the support you need with the reason for the sloppy application file. There are many companies in this sector working in this field. Work with a firm that has experience in closing, not with experience in application.
4. The most suitable land in the hotel, you can call you!
The most suitable land for the hotel should include many criteria such as location, visibility, accessibility, zoning status and so on. You may have doubts about the suitability of your landmark. However, if you are looking for a land acquisition that is owned by a third party that meets these criteria, you can understand how valuable it is to invest in your own home!
5. Give your hotel a reliable brand to operate!
If you propose a car brand that has proven itself to you, you know the brand and if you trust, only the price and the evaluation of the colour may remain. This is also the case with this hotel. A person who wants to stay in a known hotel asks only 2 questions: Is there space? Is the price appropriate?
6. Work with an architect who is experienced in the hotel!
Drawing projects in hospitals and hospitals requires special knowledge and skill. Your aim is to have a hotel? Or is it having a hotel that does not have business problems? The economic life of a hotel that has been built for 2 years is 40 years. In other words, the mistake that will be made in the project and the planning will mean 40 years.
7. Do not be afraid to work with the public!
The most important step in hotel investments is the land finding and reconstruction. If you are looking for affordable and suitable land for your hotel criteria, buy it now! Think once more before entering into a partnership with a private person / company for the land or building! If there is a problem among you, it can be long and troublesome to solve it by law or by law. Do not hesitate to work with the public, to buy land or buildings by way of allocation.
8. Know that the branding business contract is not just a legal business!
If you understand the importance of the brand’s progeny, and your business has come to the contract, then your legal counsel will not be enough. Especially in the contract phase, no hotel management firm wants to have the investment adviser of the hotel. He wants to end with a classical approach using the “brand standards” shield. An experienced
consultant dominates commercial matters and business administration and conducts negotiations and negotiations in a competitive environment by backing up to a single brand.
9. Work with hotel investment consultant!
If you are not in the hospitality industry and you agree to one or more of the above suggestions, it would be useful to use the consultant. A good consultant has the potential to earn dozens of prizes for the service fee.
10. Implement sustainability criteria as much as possible in your hotel investments!
Scientists say 2.3 worlds will be needed in 25 years if world development continues at this rate. In your project, do not ignore the basic criteria such as energy, water, solid waste. It is certain that you have made the best of your social responsibility with the direct employment and indirect contributions you have gained by making investments.