Buying Hotels and Motels
Hotels and Motels can be an interesting opportunity-whether you are looking to buy, lease, or invest. These commercial properties range from small roadside motels to larger franchise hotel chains to quaint bed-and-breakfast facilities. Lodging properties are readily available in various locations and sizes to map to your specific needs, goals, and resources. Properties may be utilized for income, tax relief, and appreciation. You should consult with your tax/financial advisor about specific tax and financial advice.
Hotels and Motels are typically classified by the number of rooms, amenities and ratings-if available. Evaluations of such properties should include, among other things, gross-income trends and deferred maintenance, as well as occupancy rate and geographic location. Proximity to attractions, highways, and cities, as well as other factors, contribute to the value of the property and will likely influence the investment decision. As with any property, improvements to the conveniences, landscaping, and overall atmosphere may help to grow revenue.
Ready to get started?
Even if you've just started thinking about selling, contact us now. A Sean Gillis RE/MAX Grande Prairie Commercial Buying a Mixed Use PropertyCommercial Professional will be in touch to discuss ways to sell your property faster and for the best price.