Who says a hotel is only open in the summer? This type of business operates year-round, serving as a great way to win over guests when spring arrives, keep them cool in the summer, offer comfort in the fall, and keep them warm in the winter.
Although it is true that many businesses make the most of the four seasons, not all of them succeed with the strategy they’ve devised.
Sectors such as agriculture, gastronomy, fashion, interior design, and sports sell quite well at any time of year, as does the tourism sector. Professionals with some experience will know how to implement a solid strategy that will allow them to serve customers in any season.
Businesses in the tourism sector specialize in identifying the needs that customers may have at any given time of year and, based on that, are able to carry out certain activities. The tourism sector includes travel agencies, real estate agencies, transportation companies, inns, and, of course, hotels.
Coastal Hotels: Market Them in the Fall, Too
Until just a few years ago, hotel sales were only made in the summer, or at least the majority of them took place during that season. This made sense, since business owners in this sector focused all their efforts on the summer season, which led to very strong sales results at that time (which attracted buyers), but those results would drop off as other seasons approached.
As we’ve already mentioned, things are different now: given that a hotel can do very well at any time of year, hotel sales have picked up in the fall, though not as much during the coldest season, winter.
Selling a hotel may be the solution for longtime hoteliers who either want to raise cash to cover the losses they’ve been facing over the years or, quite simply, can no longer compete due to their age and want to finally enjoy the retirement they’ve earned.
It’s important to keep in mind that selling a hotel is nothing like selling, for example, a condominium complex. The first thing to consider is the valuation of the hotel complex. Many hotel offers are based on the property’s real estate value, when what really needs to be done is to calculate the business’s appraised value; unfortunately, this is often much lower than the owner expects.
The time of year no longer determines a hotel’s sales; although summer remains a key season, the fall season has changed the way things are done.
