Advice from Your Hotel Brokers: Do You Want a Franchised or an Independent Property?
A big consideration you should make before you buy a hotel is if you want a franchised hotel or independent property. Each choice carries a number of pros and cons, so you should weigh those before making your decision. Whatever you decide, make sure you buy a hotel through Southeast International Hotel Brokers. Our team of hotel brokers has the extensive knowledge to guide you through the process, so you get the best hotel for your business goals.
Benefits of Buying a Franchised Hotel
Buying a franchised hotel comes with many benefits. When you buy a hotel that’s already part of an ongoing corporation, you have a lot of pieces automatically put in place for you. You don’t have to decide what services you’ll offer or how to decorate your hotel. Corporate will already have requirements and guidelines in place for you to follow. You also have the benefit of having the advice and knowledge of corporate for starting the business. This includes perks such as a robust reservation system. Finally, and perhaps most importantly, you’ll have instant name recognition. Hotel franchises have extensive brand marketing in mass media. This means customers will be fairly easy to obtain since they’ll be familiar with the brand. Buying a franchised hotel takes a lot of the guesswork out of starting your business. However, a downside of franchised hotels is you have a lack of freedom as to what you can and can’t do.
Benefits of Buying Independent
There’s also a number of benefits when you buy a hotel without a brand attached to it. Opening an independent hotel gives you complete freedom as to how your hotel is presented. You create the company culture, the aesthetic, the services offered, and the name. You enact the business plan on your terms, and you decide how things are going to be. You won’t have anyone to answer to, other than your business partners if you have them. With this complete freedom also comes complete responsibility. The biggest downside of independent hotels is having the sole responsibility to market yourself properly to be hugely successful.
Which is Right for Me?
Deciding between a franchised or an independent property is completely dependent on the individual. If you have a decent amount of experience in the hotel industry and you’re ready to strike out on your own, an independent property may be a good option for you. Independent properties are also great options for people who have a specific vision for their hotel. Franchised hotels are good options for those who may need some guidance or those who don’t want to deal with all the extra hassle that comes with an independent property. Again, when you buy a hotel, ask yourself what you’re really looking to do with the property. This will guide you to your answer.
Buy a Hotel Through Southeast International Hotel Brokers
Regardless of your choice, buy a hotel through Southeast International Hotel Brokers to make the process as easy as possible. Our team of hotel brokers has extensive knowledge and experience to guide you through the hotel buying process. We can help you find a franchise or independent property to start your business. If you’re looking to buy a hotel, contact us today, or visit the Southeast International Hotel Brokers website for more information.