Things to Know When You Buy a Hotel: Franchised Properties
When you’re getting ready to buy a hotel, you probably have a few options in mind. If you’re choosing to buy a franchised property, it’s good to know what you’re getting into. Today in the Southeast International Hotel Brokers blog, we’ll give you an idea of what to expect when you buy a franchised hotel.
Things to Know Before You Buy a Franchised Property
Buying a franchised property is a good decision, especially if you’re a first-time buyer. There are useful guidelines in place that will definitely help you out. Here are some things to know if you’re going to buy a hotel that is a franchised property:
Corporate Guidelines: When you buy a franchised property, just about everything will already be in place for you. Franchised properties have guidelines in place for their franchisees. Things like employee training, design, hotel management, and everything else will already be outlined. This is one of the biggest advantages of buying a franchised property. You won’t have to worry about coming up with these on your own.
Restrictions: On the other hand, franchised properties don’t quite give you the same freedom you would have with independent properties. Independent properties let you create your hotel from scratch, everything from the interior design to employee guidelines and more are under your control. Sometimes this can be difficult, but if you want to create something completely unique, it’s the option you’d need to go with.
Seamless Transition: Another great thing about buying franchised properties is that the transition to the new owner will be fairly seamless. There isn’t any reason for the hotel to stop operating as normal while the sale goes through. Compare this to the process of buying an independent hotel, where you’d have to shut down if you wanted to make significant changes to the design and concept.
In short, there are many benefits to buying a franchised property, but whether or not it’s the right choice for you will be a decision you’ll have to make before you buy a hotel. If you’re not sure, consult with your hotel broker to decide what might be the best option for you. They’ll be able to show you several properties to help you make your decision.
Buy a Hotel Through Southeast International Hotel Brokers
When you’re ready to buy a hotel, whether it is franchised or independent, choose Southeast International Hotel Brokers. Our expert team will be able to make the buying process much easier, and we will guide you every step of the way. Have a trusted hospitality broker by your side when you buy a hotel. Contact Southeast International Hotel Brokers today to speak with a member of our team about our services.