There are many benefits to working with hotel brokers to buy or sell a hotel.
Hotel brokers provide an integrated, full-service solution to the multi-faceted, labor-intensive process of hotel sales. Why hire a financial advisor, legal counsel, web developer, real estate marketers and research professionals when you can simply enlist the services of a hotel brokerage like Southeast International Hotel Brokers to handle all of these jobs for you? The hospitality industry is highly specialized, and whether you’re buying or selling, the experience of a seasoned hotel broker can help you achieve the optimal result.
True Pricing Through Hotel Brokers
A certain level of expertise is required when selling a hotel, and a traditional real estate broker will not have the knowledge to price your property the most competitively. Hotel brokers, on the other hand, know exactly what to look for when evaluating your business. They will examine the physical condition of your hotel, suggesting any improvements that may raise the value of your property. Next, a good hotel broker will comb through financial records to determine past performance. Statistics like occupancy rate, revenue per available room, gross income, net operating income, and CAP rate are all indicators of previous and future viability. Once the price is set, a partner like Southeast International can provide you access to their vast database of qualified buyers.
Once your property is listed, it takes a team of marketing professionals to expose it to the widest possible audience. This is exactly what hotel brokers offer. Hotel brokers also cultivate partnerships with respected third-party websites where your listing can be prominently featured. In addition, many hotel brokerages reach prospective buyers through targeted email marketing and print advertising campaigns.
Trust the Experience of Hotel Brokers
A traditional realtor might have sold a hotel, motel, or bed and breakfast here and there, but chances are his or her real expertise is in single-family homes, retail storefronts, or farms and ranches. It just makes sense to go with a hotel broker, someone who deals exclusively with hospitality properties and can guide you through the buying process. Also, with a professional network extending throughout the United States and spanning the globe, a hotel brokerage can funnel a much higher volume of qualified buyer leads to you, many of which are confidential.
When it comes to closing the deal, no one is more prepared than hotel brokers. They maintain working relationships with attorneys, lenders, insurance companies and franchisors, taking much of the stress and hassle out of completing the transaction.
It takes a team effort to achieve the greatest results in a hospitality property transaction. Hotel Brokers like Southeast International serve as the supporting cast behind your hotel sales and investment goals. Contact us today for more information.