Faster than expected recovery in the hospitality sector is encouraging more people to investigate the opportunities for launching their own hotel . And now sector specialists Colliers International has devised a one stop infographic enabling people thinking of a mid-life career change to crunch the numbers before they take the plunge.
Handy income calculator
The company has released its own Guide to Becoming an Independent Hotelier, providing a step by step programme for would-be owners.
South West hotels specialist Simon Wells said: “It is easy to use and has practical advice for consumers, including a handy income calculator that allows users to work out their potential income based on number of rooms, occupancy, nights open and rate per night.
“By using the income guide potential hoteliers can check their potential earnings at a glance.”
Business as well as lifestyle
He went on: “Many people dream of becoming an hotelier but it must be a business as well as lifestyle choice. We are seeing increasing numbers of people, especially couples, looking for a mid-life career change and owning your own hotel offers a number of collateral advantages.
“Living in a home that works to pay its own way is an attractive thought and has sound investment potential.
“The beauty of our income calculator is that it helps keep the feet firmly on the ground. People can be bowled over by some archetypal Cotswold stone country pub with roses around the door or a South West seaside hotspot – this provides an instant reality check as to just how profitable their dream hotel might be.
“It also allows potential hoteliers to take charge of their own destiny and decide their target market, how busy they want to be, when they want to open, and where they want to operate.”