When you start browsing hotels for sale, it’s good to get an idea of what type of hotel you’ll want to purchase. There are actually a wide variety of different hotel types to choose from, each with their own unique features, customer bases, and much more. Today in the Southeast International Hotel Brokers blog, we’ll go over some of these hotel types.
Different Types of Hotels
Hotels are typically categorized in several ways. The most common classifications are the level of service a hotel offers and the type of ownership. Let’s start by looking at level of service:
These hotels are the best of the best. An upscale hotel is expected to have luxury accommodations and amenities along with the best in customer service. Of course, the rates of the rooms will match these expectations. These hotels typically appeal to a wealthier target market.
These are probably the most common types of hotels available. Midscale is where most people who travel will choose to stay. These can be classified as 3 or 4 star hotels. The accommodations aren’t typically considered luxurious, but they are nice and comfortable. A certain amount of amenities are expected along with great customer service.
Budget hotels are meant to provide basic accommodations at a very affordable price. Budget hotels should still be clean and safe, but budget travelers won’t expect much more than a bed, a bathroom, and a few other accommodations to meet their basic needs. Extra services and amenities aren’t really expected.
Type of Ownership
Next, let’s look at type of ownership:
Independent hotels are owned by someone who isn’t affiliated with any corporation. These hotels are designed and run according to the owner’s specifications. Since they have no affiliations owners don’t have to follow any specific guidelines and can make exactly the hotel they want.
A franchised hotel is part of a corporation and will have stipulations and guidelines in place for the owner to follow. A benefit of buying a franchised property is that the name and brand recognition will already be built in, and you won’t have to figure out policy and guidelines on your own.
Choose Southeast International Hotel Brokers
When you’re looking at hotels for sale, choose Southeast International Hotel Brokers to help you through the process. We help you every step of the way, making the buying process as easy as possible. If you’re looking to sell a hotel, we can help with that too. Contact us today for more information and to speak with a member of our hospitality broker team.