Tips from Motel Brokers: What Makes a Motel Marketable?

In an earlier blog, we discussed what factors make your hotel marketable to potential buyers. Today, our motel brokers delve into what makes your motel attractive to buyers. To be honest, the differences between marketing the two aren’t extremely varied. Still, there are nuances to marketing a motel when comparing the process to hotel sales. That’s why selling your motel through the motel brokers at Southeast International is a good idea. We can reach the ideal buyers, and we know what makes a motel a viable sales prospect.

What Makes a Motel Marketable?

We don’t mean to beat this term into the ground, but location is of the utmost importance when considering how likely your motel is to sell close to your asking price. The better the location is, the more marketable the motel is. Ideally, your motel might be in passover states or near major cities as a more affordable option to stay. This is the biggest difference between the viability of a motel sale and a hotel sale. If you have a motel in the middle of a huge city, not only will it be a bit out of place, it’s probably getting killed by nearby hotels. While it’s true hotels and motels don’t attract the same customers, you don’t want to be in an area where the cost of upkeep causes you to have to charge more for people to stay there. You’ll also want to consider the season that you’ll be putting your motel up for sale. Buyers ideally want to purchase just before the start of the busy season, so list your motel 3-6 months before that to ensure you have exposure during the most appealing time frame. There is no wrong time to list, however. Southeast International Hotel Brokers closes transactions throughout the year.

How to Make Your Motel More of a Draw for Buyers

Again, this is fairly similar to hotel sales, but you need to be prepared with information a buyer looks for. They want to know the reasoning behind your asking price, and you need the proper financial statements and predictions to back that asking price up. Be fully transparent with the buyer – don’t hide the fact that the motel may be slightly out of date and in need of some updating. If you have a franchised motel, make sure to provide them with the PIP, so they know what has and hasn’t been completed. Your asking price should reflect this. That’s why selling your motel through professional motel brokers is exceedingly important. We have access to a network that reaches ideal buyers for your property.

Trust the Motel Brokers at Southeast International

Once you’ve made the necessary considerations on selling your motel, contact the motel brokers at Southeast International. When you sell through us, we make the motel sales process as simple as possible. To speak with one of our motel brokers, contact Southeast International Hotel Brokers today, or view our website for more information.