Southeast International Advice on Selling an Inherited Hotel or Motel

Great Uncle Albert has left you his small but profitable boutique hotel and resort in Maine. It was a great place to visit as a child, but your lifestyle now involves living in the Midwest, and moving to Maine is not an option. Now what?

Southeast International Hotel Brokers, the Midwest’s premier hotel brokerage, can advise you in determining the best course of action for you in disposing of your newly inherited hotel property. For a proper disposition to be reached, a few things must first be put in order. That’s where Southeast International’s five decades of experience comes in.

First Thing’s First: The Financials

A few things to reflect on when it comes to finances include:

• Are the hotel’s finances in good order?
• Do you have access to complete annual financial statements with costs and overhead, as well as income and occupancy metrics?
• How much is in the checking account, and how much working capital do you have access to?

Having the finances in order will give you a solid idea of the profitability as well as the marketability of the hotel property.

Valuation of the Property

The financials are not the only factor in determining your property’s value. The location and condition of the actual buildings and property will need to be determined by an experienced appraiser.

To Sell or Not To Sell

What exactly do you want to sell? The entire hotel and property? Do you want to keep the property and only sell the business? Or, perhaps, you want to simply lease the building to a new tenant company? Selling has more than one meaning in the commercial hotel property business, and while you may live out-of-state, maintaining all or part of your inheritance may be a viable, income-producing option. While some people may want to sell completely, others may not. Discussing the choice of hotel listings with a reliable hotel brokerage firm can bring clarification to an otherwise confusing array of options.

Hotel Property For Sale!

Knowing your potential buyers and what attracts them can help you make your property that much more desirable. Researching comparable hotel listings can yield valuable information that will translate into a quicker sale of all or part of your property. Southeast International stands ready to help you analyze comparable sales data and listing information, to ensure a timely and profitable sale of all or part of your inherited hotel property.

Southeast International Hotel Brokers

Southeast International has the resources as well as experienced brokers, accountants and legal professionals to ensure a smooth disposition of all or part of your inherited hotel or motel property. Contact Southeast International Hotel Brokers today to learn more about our services.