So, what’s it like to run a hotel? Do you think that you have what it takes? There is lot to consider even before you start scouring agents for an appropriate property. Running a hotel can be a pleasant way to make a living, and a rewarding experience. It could be something that you want to do alone or with a partner.
Before you seriously look into running a hotel, you might want to ask yourself a few questions. If you’re thinking about running a hotel, it is likely that you will have to move away from the place you live. Do you have young children to consider? They might need to be won over before they are taken away from school friends. Once you have taken care of the family matters, it’s then down to business.
If you’re serious about running a hotel and being your own boss, then you’ll have to look at the kind of jobs that will be needed. The reason for this is that, as hoteliers, there will inevitably be times where you will need to carry out day to day tasks such as cleaning and cooking. This is a good way of cutting costs, as you won’t need as many staff members.
How hard you will need to work at your hotel will depend on the number of bedrooms it has. A small hotel is easier to run, as you can take care of some of the work yourself. However, be aware of other areas of a hotel such as the restaurant. If you don’t feel overly confident in the kitchen then you’ll have to hire a chef. When it comes to hiring staff, you should go with your instinct and judge their character carefully. It is important to keep a close working relationship with all employees, no matter how small their job may be, so as to keep all areas of the hotel up to speed.
Running a hotel is not for everyone. If you don’t know how to respond to the customers’ demands in an appropriate fashion then you will come to dislike the business. You have to be prepared for the worst that a customer can throw at you; a sense of humour and a light-hearted attitude to customers will help to get you through the day.
There’s also a lot to think about when it comes to the financial side of running a hotel. For example, you need to keep in mind the various methods of payment that are made by customers, and you will need to prepare your cash flow accordingly. For instance, some customers will pay cash, while many will pay by cheque or credit/debit card. Furthermore, your revenue will come from a variety of sources such as the rooms or the restaurant and bar (if you have a license to sell alcohol). You should keep your hotel up to date and preferably include such handy features as WI-FI.
Not everyone will have the confidence to run a hotel. Many will tire of negative customer feedback, and some customers can be critical to the extreme. If you’re the type of person who has a good business head, who can take criticism on the chin and has a natural charm with other people, then running a hotel could be for you.