How to Buy and Manage Your Own Hotel
4th edition
Miles Quest, Peter Nannestad
ISBN: 978-1-910158-21-0 hbk; 978-1-910158-22-7 pbk; 978-1-910158-23-4 eBook
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"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
"This is one of those types of books that will save you a lot of time, heartache and cash if you really apply it's sound advice. It's clear that this book is written by authors who know the hotel industry - and it's challenges and possibilities – very deeply. It's insightful, informative and allows the budding hotel owner / manager invaluable advice and pointers about the realities of going on this journey in a way that will enable you to first consider whether you are really up for the journey and then to get your act, abilities and offering in place if you are". Rasheed Ogunlaru life coach, speaker, business coach - and author of Soul Trader – Putting the Heart Back into Your Business
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:
Pub Date: May 2015
256 pages
"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
"This is one of those types of books that will save you a lot of time, heartache and cash if you really apply it's sound advice. It's clear that this book is written by authors who know the hotel industry - and it's challenges and possibilities – very deeply. It's insightful, informative and allows the budding hotel owner / manager invaluable advice and pointers about the realities of going on this journey in a way that will enable you to first consider whether you are really up for the journey and then to get your act, abilities and offering in place if you are". Rasheed Ogunlaru life coach, speaker, business coach - and author of Soul Trader – Putting the Heart Back into Your Business
- 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!
Pub Date: May 2015
256 pages
Table of contents
Contents, Introduction and AcknowledgementSection 1: Why, what and where?
Chapter 1 Hospitality – what’s it all about?
Chapter 2 Some basis facts
Chapter 3 Franchising and branding: where the challenge lies (by Melvin Gold)
Chapter 4 What kind of hotel will suit me best?
'Section 2: Finding the hotel
Chapter 5 Location, location, location
Chapter 6 Using the business agent
Chapter 7 The importance of occupancy – and interpreting the accounts
Chapter 8 Is the business sound?
Section 3: The purchase
Chapter 9 Is the purchase feasible?
Chapter 10 Raising the finance
Chapter 11 Finding a good lawyer – and some legal points
Chapter 12 Taking over
Section 4: Running your own hotel:
Chapter 13 Budgeting – what’s your break-even point?
Chapter 14 Sole trader and limited company – and some legal points
Chapter 15 Starting from scratch; Ch 16 Building up the business
Section 5: Growing your business:
Chapter 17 Boosting your sales
Chapter 18 Harnessing social media to your business
Chapter 19 What to do about the restaurant?
Chapter 20 You and your staff
Chapter 21 Keeping up the investment
Index
Table of contents
Contents, Introduction and AcknowledgementSection 1: Why, what and where?
Chapter 1 Hospitality – what’s it all about?
Chapter 2 Some basis facts
Chapter 3 Franchising and branding: where the challenge lies (by Melvin Gold)
Chapter 4 What kind of hotel will suit me best?
'Section 2: Finding the hotel
Chapter 5 Location, location, location
Chapter 6 Using the business agent
Chapter 7 The importance of occupancy – and interpreting the accounts
Chapter 8 Is the business sound?
Section 3: The purchase
Chapter 9 Is the purchase feasible?
Chapter 10 Raising the finance
Chapter 11 Finding a good lawyer – and some legal points
Chapter 12 Taking over
Section 4: Running your own hotel:
Chapter 13 Budgeting – what’s your break-even point?
Chapter 14 Sole trader and limited company – and some legal points
Chapter 15 Starting from scratch; Ch 16 Building up the business
Section 5: Growing your business:
Chapter 17 Boosting your sales
Chapter 18 Harnessing social media to your business
Chapter 19 What to do about the restaurant?
Chapter 20 You and your staff
Chapter 21 Keeping up the investment
Index
About the authors
Miles Quest is Managing Director of Wordsmith & Company, and past editor of Caterer Magazine. Miles studied hospitality management at Battersea College of Technology (now the University of Surrey) and has written and commentated on the industry for the last 40 years. He was editor of Catering Times, a weekly newspaper, from 1967-81 when he started Wordsmith and Company, his marketing, publishing and PR company, which has advised over 100 leading hospitality clients.Peter Nannestad is Managing Director of Hospitality Business Improvement Management Consultancy, UK and hotelowner.