Improve the appeal of your hotel property for sale with these tips.

Why is it that some hotel properties for sale get snapped up as soon as they are listed, while others seem to languish on real estate websites for months on end? Several factors contribute to the marketability of a hotel, some more obvious than others. Southeast International has compiled the following list of steps any hotel broker can take to close the deal in a quick, financially lucrative manner.

Timely Preparation of Your Hotel Property for Sale

Don’t put off necessary renovations. Updates to plumbing, electrical, flooring, furniture or equipment should be handled before you list the hotel property for sale. Additionally, don’t neglect the exterior of the hotel property for sale. Fresh paint and well-kept grounds make an excellent first impression.

Hotel Property Sales Through Owner Financing

By allowing buyers to finance at least a portion of the asking price, you’re sure to speed up the selling process. There are plenty of good candidates who simply can’t get the approval of a lender, but as the owner, you can set the financial terms to benefit both of you in the long run. You may even end up collecting more than the original asking price due to accrued interest.

Hotel Property Sales 101: Crafting an Effective Listing

As the old saying goes – a picture is worth a thousand words, so include plenty of attractive photos of your hotel property for sale. Irrelevant or poorly lit photos will all but render your listing invisible to prospective buyers. Photos showcasing manicured grounds, welcoming lobbies, and well-appointed rooms illustrate many of your property’s top selling points.

A clear, concise description of the hotel property for sale should also draw attention to its most appealing attributes. If the property features an indoor/outdoor pool, that should be mentioned. The presence of a fitness area or gym would be another attractive detail. Any recent renovations or improvements should also be stated. Figures such as occupancy rate, cash flow and annual revenue can intrigue buyers as well, provided they are promising. Remember to pay special attention to spelling and grammar as you write this information.

Don’t be too forthcoming, though. It’s standard practice to include the county and state of your hotel property sale, but you never want to disclose the exact address or brand of your location. You don’t want your competitors knowing your property is on the market, and you especially don’t want employees finding out about the impending sale second-hand.

While some sellers may choose to list their hotel property for sale online independently, a hotel broker can do this for you, while also helping you locate qualified buyers.

Hotel property sales can be labor-intensive and time-consuming. Following these measures is sure to create a positive experience for both buyer and seller. A hotel broker can also do a lot of this work for you. Contact us today to find out how we can help you improve the appeal of your hotel property for sale and find qualified buyers.