Amenities continue to be a significant draw for hotel guests. By providing clients with spaces where they could plan and organize events, hotels can generate more rental revenues.
The Radisson Hotel Group believes in the same idea, with the brand launching its new meetings and event spaces. The hotel group wants to become the number one choice for customers looking for a space where they could hold meetings and events. The company aims to create spaces that follow three core elements: personal, professional, and memorable.
Finding the right property
If you are interested in buying a hotel property and you want to incorporate the same idea of providing spaces for events and meetings, then you’ll need to be careful about choosing a property that ticks off all the boxes on your requirements list. The wrong property, after all, might require too much renovation or might not be a good match with what you have in mind. The best way to find the right real estate asset is to hire a broker. Secure the services of an experienced broker so you’ll have someone to help you find the hotel business for sale that’s going to be perfect for your plans.
Choosing a broker
Not all brokers are alike, though. It’s important that you hire a competent broker. Make a list of reputable brokerage firms in the area, along with the names of top hotel brokers. Which ones have the right credentials and qualifications for the job? How much experience do they have? What kind of properties have they handled before? You’ll want a broker with extensive experience in handling the sale and buying transactions for hotels. Knowing that you’re hiring someone with experience and familiarity with the process means you can count on efficient results.
Know what to look for
Experience, credentials, and qualifications count for a lot, but so does trustworthiness. You want someone you’ll be at ease with, someone you can work with. If the broker doesn’t seem to give you the time of day, is too busy to send prompt replies, or just doesn’t invest the necessary time and attention in helping you find the hotel property you want, then look elsewhere. Be wary of any signs that indicate you’re hiring the wrong person for the job.
Start looking for a hotel business for sale by calling up NewGen Advisory. Work with skilled and trusted brokers to help you find the ideal investment property for you.