Boutique Hotel Information
October 17, 2021
by a searcher from University of California, Santa Cruz in 1313 Marsh Trail Cir NE, Sandy Springs, GA 30328, USA
Does anyone have general information on acquiring and operating boutique hotels and the current state of the market with Covid?
I would be interested to hear from searchers, owners or investors on this. This is a new area of interest and any leads to start down this path would be greatly appreciated.
from University of Texas at Austin in Dallas, TX, USA
Spoiler alert: If you don't already have hotel or hospitality management in your toolkit, I wouldn't recommend it. You hear about the surplus of job openings without takers and in hotels it is especially bad because you're not only running a front desk but also (depending on key count) a housekeeping operation, a laundry operation, and/or an F&B operation. All of these are different businesses with different labor requirements and ALL are getting crushed.
Again, depending on key count, you're better off doing short-term rentals. Different expectations and typically more forgiving customer set housed in an asset that you can liquidate comparatively quickly and that typically appreciates in value while you claim depreciation and write the interest off.
from Stanford University in Honolulu, HI, USA