Why Selling a Hotel Might Not Be Working for You
If you are having trouble selling a hotel, it can be extremely frustrating to watch it sit on the market. Maybe you have buyers interested, but no one is making serious offers. You may be wondering why you’re having trouble. Today in the Southeast International Hotel Brokers blog, we’ll discuss reasons you may be having difficulty selling a hotel.
Why Isn’t My Hotel Selling?
There can be a wide variety of reasons your hotel isn’t selling. Each situation is unique. That being said, there are some common problems people run into when selling a hotel. Some of these reasons can include:
Price – The problem might be as simple as the price not being right. If the price is too high for the market, or the hotel is overvalued, you might have trouble getting offers. Of course, lowering the price isn’t ideal, but if the circumstances call for it, it’s worth considering.
Marketing – Selling a hotel isn’t easy by any means, but it’s even harder if you don’t get the word out properly. The biggest part of this is getting buyers to see your hotel listing. You need to make sure your hotel listing is high-quality and provides all the necessary information. The better your hotel listing looks, the more likely a buyer is to take it seriously.
Condition of Your Hotel – Having your hotel in good condition certainly makes it easier to sell. Most buyers aren’t really looking for a fixer-upper, so make sure your hotel’s maintenance needs are properly addressed.
Timing – Sometimes selling a hotel can just come down to timing. As hard as it is to accept, sometimes buyers just aren’t looking to buy. Letting your hotel sit on the market may not be desirable, but sometimes it’s necessary to eventually get the offer you’re looking for.
What You Can Do
As we’ve previously mentioned, selling a hotel is no easy feat. That’s why having a hospitality broker by your side is so vital during the selling process. They have the knowledge and the connections to help make the selling process as easy as possible. Southeast International Hotel Brokers have decades of experience and expertise, and we are ready to go to work for you. With our vast network, your hotel listing will be seen by plenty of potential buyers.
Selling a Hotel Through Southeast International Hotel Brokers
Whether you’re looking to buy or you’re selling a hotel, Southeast International Hotel Brokers can help. Contact us today for more information and to speak with a member of our team. We’ll be happy to help you any way we can.