Myths About Selling a Hotel
Selling a hotel isn’t something most people do every day, so there are some misconceptions about the process that come out of this lack of experience. If you’re looking to sell your hotel, it’s a good idea to know about these misconceptions so you don’t fall for them yourself. Today, we’ll break a few of these down.
Common Myths About Selling a Hotel
Here are some common misconceptions you might have about selling a hotel:
Your Hotel is Ready to Sell
Selling a hotel takes a good amount of preparation before you can put it on the market. You have to make sure you’re in a position to sell, have all the records you need, and much more. It’s definitely not something you can do on a whim. Once you’ve invested the time and energy to get your hotel ready, then you can put it on the market.
Asking Price Is Not Guaranteed
When you set your asking price, you’ll have to realize that it’s not necessarily what you’re going to get. You have to be willing to negotiate and be open to getting less. Buyers will rarely want to buy at the full asking price. That’s not to say it’s impossible, but being unwilling to negotiate means the hotel may sit on the market for longer than you would like.
My Hotel Will Sell Immediately
It’s important to be patient during the selling process. Often selling a hotel can take quite a bit of time, and it probably won’t get snapped up off the market immediately. Not that quickly selling your hotel never happens, but most of the time it can take months, depending on a variety of factors.
In an ideal world, you could sell your hotel right away and get exactly what you’re asking for. It’s important to keep in mind that this isn’t always the case. However, working with a hotel broker can make the selling process much easier and more streamlined.
Choose Southeast International Hotel Brokers
If you’re looking to sell your hotel, the best thing you can do to make the process easier is use a hotel broker. Southeast International Hotel Brokers has been in the industry for decades, and we have the knowledge and resources you want out of your hospitality broker team. For more information about our services, and to speak with a member of our team, contact us today. We look forward to working with you.