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The Art of Buying and Selling HOTELS.
In: Lodging Hospitality, Jg. 58 (2002-09-01), Heft 12, S. 32-33
Online
serialPeriodical
Zugriff:
This article presents guidelines on buying and selling hospitality properties. According to Ravi Patel, president and CEO of SREE Hospitality Group, location, location, location is still key. He prefers to operate east of the Mississippi and likes to have three to four hotels in a given market. Clustering properties reduces human resources and support service costs, he says. Knowledge of trends within the industry plays a major role in business success. Aspects to consider in analyzing a transaction include marketplace competitiveness, barriers to entry, and securing a franchise application that is appropriate to the market. Patel attributes the decision to sell to timing, product knowledge and intuition. Typically, he finds a hold of five to six years to be opportune for a turnover. One problem with selling in today's market has to do with certain physical characteristics of hotels. Exterior corridors are a prime example. Many buyers do not want properties with them because they believe customers do not want them.
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The Art of Buying and Selling HOTELS.
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Autor/in / Beteiligte Person: | Taylor, Steve |
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Zeitschrift: | Lodging Hospitality, Jg. 58 (2002-09-01), Heft 12, S. 32-33 |
Veröffentlichung: | 2002 |
Medientyp: | serialPeriodical |
ISSN: | 0148-0766 (print) |
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