You Should Stay Open While Selling a Hotel
When you’re selling a hotel, it’s common to have some questions. If it’s your first time selling a hotel, you may wonder if having it for sale will affect business at all. The short answer is no, but allow us to expand on that. Today in the Southeast International Hotel Brokers blog, we discuss staying open while you sell your hotel.
Can I Stay Open While Selling a Hotel?
Of course! In fact, it’s extremely uncommon for a hotel to close its doors just for the purpose of selling. The only reason this might be the case is if you were making major renovations for the new owner, and even then the process of the sale would already be in place. Another scenario might be if your hotel was closed, and you’re planning on selling it to someone who wants to reopen the property. But if this was the case, you wouldn’t have been running the business at the point of sale anyway. If you simply have your hotel listed to be sold, and you’re entertaining offers, there’s no reason that you should close for business. In fact, most buyers would question why you were closed, and it could potentially make them hesitant to seek further information about your hotel.
Tips for Doing Both
The truth is, there aren’t really any special tips for selling a hotel and staying open. For the most part, everything will be business as usual. Inevitably, if you’re the owner you’ll most likely have more on your plate than usual since you have to attend to the sales process, but other than that everything should run smoothly. New owners and potential buyers will want the hotel they’re buying to be firing on all cylinders when they purchase it. No one wants to buy a defunct hotel or one that isn’t bringing in any business. The only real recommendation we have is hiring a hotel broker to help ease the burden of the sales process. Selling a hotel and running one at the same time can get a bit hectic, and we can certainly help with that!
Choose Southeast International Hotel Brokers
If you’re buying or selling a hotel, choose the experienced team at Southeast International Hotel Brokers. Our knowledgeable staff of hospitality brokers is ready to assist you, and with decades of combined experience, you can trust you’re in great hands. Contact us today for more information and to speak to a member of our team.