More people are holidaying at home this year. Good news for hoteliers and those looking to buy into the market. But we wouldn't recommend investing in a hotel built of sand...! This hotel was built in Dorset on behalf of www.laterooms.com - the popular resource for hoteliers and potential guests. Visitors can apparently stay for £10 per night. Let's hope it stays sunny!
Hotel prices holding up
The average price of a 6 bedroomed B&B within our UK property directory is currently £463,000. That's almost identical to what it was back in October 2007 (i.e. approx. 9 months ago). Prices for larger hotels have fallen by about 7% since last autumn. But the general picture appears to show most businesses prices in this sector are not plummeting. Interestingly enough, you can now buy a hotel with more letting rooms for less money than some of the smaller ones out there!
More properties than ever
More and more agents are listing their properties on www.hotelstobuy.co.uk. But we are also seeing a rise in private sellers. Even if you are already with an agent, you may be able to advertise privately and save £££s in commission on your sale. Click here for more information. Please note that rates will rise in July so why not list your hotel or B&B for sale today!
Broker says it's 'business as usual' regarding lending to buyers of hotels and guesthouses
Commercial Mortgage specialist, Bedrock Business Finance can confirm that it is ‘business as usual’ as far as arranging mortgages for hotels and guest houses.
The much publicized ‘credit crunch’ has had an impact on residential mortgages and the products available within this market in terms of loan to value and pricing. The commercial mortgage market has been largely unaffected and has seen very few product withdrawals.
With this in mind Bedrock can report that commercial lenders are very much open for business and still have an appetite to lend to purchasers of hotels and guest houses. There are still and will remain to be a wide range of lenders and products available throughout the commercial mortgage market.
Register as a member of www.hotelstobuy.co.uk for more information.
Still the largest directory of hotels and B&B properties for sale in the UK.
www.hotelstobuy.co.uk was established in early 2005. Nothing similar had previously existed, or still exists, for those looking to buy hotels or guesthouses in the UK. Following ten years of running her own small hotels, Celia Carruthers chose to market the sale of her last hotel privately, through the internet. Overwhelmed by the huge response to her online sale of just one hotel, she set up www.hotelstobuy.co.uk to help others in their search for an accommodation business to buy. Today the site has over 16,000 visitors to its home page each month and is the Number One resource for those looking to buy a hotel or B&B business in the UK. 2008 will see continual improvements to the site with more and more agents and private sellers adding their businesses to the property directory every day.
New Article added to www.hotelstobuy.co.uk
According to research by Digital UK, nearly half of all hotel and B&B owners said that they hadn't yet done anything about the switchover to digital television. If you're buying a going concern, make sure you ask what steps have already been taken to future-proof television reception. If you don't ask at the buying stage, you may be in for an expensive shock once you take over a business and have to invest in upgrading equipment. Members can login for more information and advice.
Think a hotel property is going to cost you the earth?
Not sure how far your money will go when buying a hotel or guesthouse property? You may be surprised to hear that you can currently buy a hotel in the UK for less than £250,000 freehold. Location obviously makes a difference to the market, but if you are looking to buy in a busy, competive area of the country, like Blackpool, or in the more remote parts of Scotland, your money will go a lot further than you may think.
The average price of a 12-bedroomed hotel in our listings as of today is £441,000.
Click here for some examples of properties currently, or recently, for sale on www.hotelstobuy.co.uk
LOOKING TO SELL YOUR PROPERTY?
Have you seen our advert in the industry magazine Quality Edge?
If so, and you wish to take advantage of advertising your business for sale on www.hotelstobuy.co.uk, please click here. Even if your property is already listed with an agent, you can usually advertise privately and potentially save thousands in commission.
NEW FOR MEMBERS
Members of www.hotelstobuy.co.uk can now see, in one easy place, when property details are updated e.g. when there has been a price change to a hotel or B&B. Members login for more details.
Happy New Year!
If you are looking to buying your own hotel or guesthouse business in 2008, then you've found the ideal site for you. Join www.hotelstobuy.co.uk and find out all you need to know before buying a hotel, and browse our 100's of properties for sale today.
Throughout January we will be adding more and more businesses as they come on to the market; we'll be adding more interesting articles relating to the trade and will be keeping you up to date with any developments in the industry which affect you as a buyer.
AVOID THE JANUARY RUSH
January is traditionally a very busy time for commercial agents as many people start the new year with plans to buy and run their own business. If you have time over the Christmas period to start your search for a hotel or guesthouse business for sale, then we recommend you use it to get a head start on everyone else!
TRADE SHOWS IN EARLY 2008
Whether you're just starting out or have been running a hotel for some time, it's always useful to visit at least one trade show each year. Apart from giving yourself a day out, you can pick up deals and information about lots of services and products which may help you in your accommodation or catering business. The following exhibitions are some of the biggest events coming up in the first quarter of 2008.
Check the individual websites for times, dates and whether pre-registration is required.
NO FLASHING ADVERTS ON WWW.HOTELSTOBUY.CO.UK
At www.hotelstobuy.co.uk we pride ourselves on the fact that we do not allow flashing banner advertising to be included within our pages. We know how annoying it can be to try and find the information you really want, when you are being distracted by flashing or pop-up adverts floating in front of your eyes. So be assured that, if you become a member of our site, you will not find these irritating distractions on any of our pages.
FANCY RUNNING A B&B OVERSEAS?
Occasionally we include businesses for sale outside of the United Kingdom and this month have added a B&B for sale in Texas, USA. The owner, Alan Brunton, has also written an article for members about the differences between US and UK B&B operations. Other overseas properties include hotels or B&Bs for sale in Spain, Germany and France. Members login to read the article in full or browse the properties for sale.
LATEST HOTELIER DIARY INSTALLMENT
Since May 2007 we have been following the progress of new hoteliers, Peter and Ann Wright. Today we publish the latest installment of their diary in our Members' Articles section of the site. Login to read how they are getting on.
THINKING OF SELLING YOUR HOTEL PRIVATELY?
Over the past few months, we have seen an increase in hoteliers wishing to sell their business privately via www.hotelstobuy.co.uk.
There are of course pros and cons of deciding to put your property on the market without an agent. The main advantage is the thousands of pounds you will save avoiding paying a commission. But are you prepared to do all the leg-work in getting prospective viewers through the door?
Amongst other things, agents help screen out the time-wasters; can prepare professional sales details; show people around your property and handle the sales negotiations on your behalf. But many owners now feel capable of doing all these things on their own. In a position to concentrate 100% of their efforts to selling just the one business, as opposed to many in the case of an agent, owners are increasingly taking the decision to try and sell by themselves. Once a buyer is found, employing a good solicitor to make sure everything is handled legally is of course important, but this would still have to be done if you sold through an agency.
To make an enquiry about selling your hotel via www.hotelstobuy.co.uk please click here. Or if you wish us to contact an agent in your area, to come and discuss things with you, please click here.
HOW IMPORTANT IS A GOOD HOTEL WEBSITE?
Over the years we have seen some truly awful hotel websites, but the worst we have ever seen is that for one particular hotel in Newquay, Cornwall. Members can login to find out exactly which one and to also see examples of good hotel websites - which do the job they are intended to do - increase bookings!
VIRTUAL TOURS FOR HOTEL WEBSITES
Do you already run a hotel? Are you about to take over a new guesthouse or B&B? Have you considered adding a virtual tour to your website, so that prospective guests can really see what your accommodation can offer them? Stand out from the crowd and show off your best assets with an online tour of your property. It's not as expensive as you might think. Prices start from £299 and more details can be found by contacting one of the UK's leading specialists using this online enquiry form. Virtual tours are the future of marketing hotel accommodation. So why not get in there early. Click here for more details.
NEW FEATURE FOR HOTELSTOBUY Today we've added a new feature to the site. Subscribers can now keep track of those properties for which they've requested further details, in their own Property Folder. More details are available after login.
TOURISM UP IN SEPTEMBER
September has witnessed a late boost to tourism for the UK after the washout of earlier summer months. The Westcountry has seen a 10% increase in visitors compared to September 2006, according to the Western Morning News and regional tourist attractions.
And across the country similar reports have appeared, such as on businessgazette.co.uk which says 'Cumbria is experiencing a record-breaking late summer online tourism bookings
boom'.
AVERAGE PRICE OF 12 BEDROOMED HOTEL IS £474K
What size of hotel or guesthouse do you think you could afford to buy?
The average price of a 6 bedroomed property within the www.hotestobuy.co.uk directory today is £459,000. Interestingly, you could double the number of letting rooms you buy for only a little more money. This is because the average price of a 12 bedroomed hotel on our site is currently £474,000. And the average price for a 20 bedroomed hotel is £794,000.
These prices are from an average of properties for sale across the UK. For more examples of properties currently within our directory click here.
HOTEL GUIDE RELEASED WITH WARNINGS TO HOTELIERS Soaring British hotel tariffs are harming the tourist trade, say the editors of The Good Hotel Guide, whose 2008 edition is out today. British hotels are among the most expensive to stay in in the world and their high charges are a serious issue for both domestic and foreign tourists.
Other issues which the Guide raises this year is that hotels can be family unfriendly and that a poor welcome is one of the most frequent complaints made by Guide correspondents. More details and advice on how to improve your hotel/B&Bs appeal to potential guests is available to members after login.
Our tips for selling your hotel include the following:
1. Don't give up running your business as well as you can. Don't get demotivated and maintain high standards to reap the best price for your going concern.
2. Get 3 or more valuations from local and national agents.
3. Get your accounts up to date. Buyers will want to see how well you have been doing.
4. Collect together all other paperwork which buyers may want to see, such as your major overhead bills, health & safety reports, licensing certificates, staff contracts, etc.
5. Compile a clear inventory of what you are selling with the business.
6. Declutter and maximise the saleability of your own quarters and the rest of the hotel.
7. Arrange viewings for quieter times of the day.
8. Broach the sale with staff if necessary. It's better that they learn about a possible sale through you than via someone else.
9. Make sure that you come across as positive as you can about your business to buyers, no matter how tired you are at the end of a busy season!
10. Don't give up hope of a sale. If you do all of the above you will eventually be on the move!
More details of how to go about selling a hotel business are available to members after login as well as tips for buyers about how to assess a hotel's potential.
August 26th 2007
HOTEL FIRE SAFETY
The recent hotel fire in Newquay, Cornwall was shocking and reminds all hoteliers of their responsibilities in fire prevention and safety precautions. If you are looking to buy a hotel or guesthouse and have concerns about the regulations that you will have to keep on top of, please take a look at the government advice for England and Wales by clicking here for the free PDF booklet. For slower download versions or to request a posted copy click here for further details. For advice in Scotland click here. More advice about your responsibilities as a hotelier or B&B owner are available to members after login.
July 17th 2007
Agent of The Year 2007 Award
At hotelstobuy we want to show our appreciation to those agents which YOU have found to be most helpful with your enquiries and search for a hotel or guesthouse to buy, or have worked hard to sell your own hotel property. Members can login and nominate for their chosen agent.
We would like to hear about your positive experiences of agents and, if they are already one of the 60+ agents who list their properties on hotelstobuy, they will go on to be considered for our "Agent of the Year" award which we hope to give out later this summer.
By nominating the good agents we hope to encourage the less than good ones to raise their game and become even more helpful to you and all the others looking to buy hotels in the UK. So please vote and help us to make a difference to the service which you are provided.
July 14th 2007
Want to know what sort of property you will be able to afford in various parts of the country? Click here for a look at some of the properties currently/recently available.
July 1st 2007
SMOKING BAN IN HOTELS
Just in case you have been living in a cave for the past few weeks and don't realise it - the whole of Great Britain's enclosed public places are now smoke-free! Members login to read how the smoking ban will affect you and your hotel business.
June 6th 2007
We've added another new article. This time featuring the experiences of a couple who have started to run a guesthouse business in Sweden, where land prices are apparently cheap and the lifestyle sounds idyllic! Members login to read the feature in full.
June 5th 2007
CREATING AN ENVIRONMENTALLY FRIENDLY HOTEL
Learn how to ensure your hotel or B&B can turn green; help reduce its impact on the environment; save money and attract more guests. It's the hottest topic of the moment and hoteliers need to address ways in which their business is as environmentally friendly as it can strive to be. Members login to read the feature in full.
May 24th 2007
DIARY OF A NEW HOTELIER
New Feature! This week sees the first installment of our new Diary Feature. Peter Wright is hoping to take over and run his own 15-bedroomed hotel in July 2007. He shall be giving us an insight into the challenges he faces along the way, as he reports back to us regularly about his experiences. Members login to read the feature in full.
May 21st 2007
We are proud to say that the number of properties on www.hotelstobuy.co.uk is now hovering around the 1000 mark. This is approximately 25% up on this time last year. This is largely due to more agents choosing to include their businesses within our directory.
May 18th 2007
HOTEL BOOKINGS SOFTWARE
Looking to buy software to handle your bookings?
This week we have added another new feature to our articles section. Peter Shearn from Caterbook has written an interesting and objective piece about things to consider when buying a PMS (property management system) for the hotel industry. Members login to read the feature.
May 16th 2007
NEW FEATURE
Just to let you know that we have added another proprietor profile to our Articles section. Members login to read the feature about the property in Broadstairs, Kent.
May 15th 2007
HOTELS AND THE SMOKING BAN
England has lagged behind the faster acting Scotland, Wales and Northern Ireland when it has come to banning smoking in enclosed public places. Most people are of course aware of the new smoking ban which comes into force in England on July 1st this year and but some do not realise that hotels will still be able to offer bedrooms in which guests will be able to light up.
These 'smoking' bedrooms will have to be designated as such and be clearly signed. In Scotland there must be an efficient ventilation system in place to get rid of any smoke correctly. This does not apply in England, where the ability to open a window will be adequate, as long as the smoke does not blow back into other parts of the building.
Remember that time cut down on emptying ash trays, etc. indoors may just shift to more work maintaining outside areas where smokers are likely to congregate.
And, from experience in Scotland, it does not seem that hotel insurance rates have come down as a result of less smoking within them!
Think long and hard about whether you are going to provide 'smoking' bedrooms. If you are not, but rooms have previously been used as such, then make sure all traces of nicotine and old smoke are cleaned out before the ban commences so that you can not be mistaken for having breached the law.
Members see our article on Regulations for further details.
May 5th 2007
Further to our news on May 1st, we have now also added another business profile feature for you - this time a 5 Star rated property in Carmarthenshire. Members login to read the feature.
May 1st 2007
NEW FEATURE ARTICLES BEING ADDED
Over the next week or so we are hoping to bring you more articles about existing hoteliers and B&B owners. We hope that an insight to other people's experiences of running their own accommodation business will inspire you to run your own - or give you ideas of ways in which you can improve the way you already do things.
The first new business which we are featuring is an 8 bedroomed guesthouse in Windermere. Members login to read the feature. to read the owner's story. And keep an eye on our Articles page for more coming soon.
March 28th 2007
BED TAX
Some of you may be aware that the UK government are considering plans to levy a Bed Tax on tourists and visitors to Hotels, Guest houses and B&Bs in the UK. We believe that this will do considerable damage to the tourism industry in this country and add further unecessary charges to hoteliers' tariffs. Please add your signature to the following online petition based at the 10 Downing Street website by clicking on this link: http://petitions.pm.gov.uk/NO-to-Bed-Tax/
update - July 2007:
The Government have issued this reply:
"The Lyons Report, which reported in March, examined the case for a tourist tax. After careful analysis, the Report concluded that there is not a strong evidence base for the introduction of such a tax. While Sir Michael put the case for consultation on this issue, he did not recommend such a tax be implemented, the Government is not, therefore, inclined to focus on this area. The Government does not intend to introduce a tourism tax."
March 2nd 2007
We have noticed that some members' email addresses are bouncing back our weekly property updates to them. Please let us know if you have not received any updates (sent out on a Friday morning) for a while. This could be because you have filters on your inbox which are not allowing delivery of our messages.
February 12th 2007
HOTEL TRADE SHOWS
Just a reminder of the various trade shows coming up of relevance in the next few weeks. Visit the individual websites for further details.
Amongst its services, it offers viewers to post reviews of hotels and other accommodation they have stayed in throughout the world. If you are booking a hotel, we have found it quite useful and enlightening!
But there is a danger that you may find yourself on the wrong end of a bad review yourself. If you are already running a hotel, you may like to check what your guests may have been saying about you. If you are looking to buy a particular property, you could see what past guests have thought of the experience.
If you are taking over a hotel which has a bad reputation on sites like this, it can be difficult to disassociate yourself with any bad reviews from the previous owners. It's a new dilemma facing hoteliers and we thought we'd draw your attention to the fact that this is going on and that you do have some right to reply. If you see a review which you feel is unfair, or perhaps you have just taken over the business and want to tell everyone it is now under new management, you need to click on the link which says 'Write a Review of This Hotel' and then, hidden near the bottom right hand side of the next page is a link called 'Management Response Form'. If you follow this link you will be able to post your message.
And if you're tempted to write lots of glowing reviews about your own establishment - beware! Apparently the site does investigate this sort of thing and penalises anyone found to be creating fake write-ups.
January 1st 2007
Happy New Year! It's an exciting time to be looking to buy a new business so good luck in your search.
December 13th 2006
Hotel and Catering Exhibitions Coming Up in the New Year:
The Hotel Inspector Wants to
Hear From You!
Have you recently stayed in a less-than-perfect hotel? Would you like to recommend it for TV's 'Hotel Inspector' treatment? The Channel 5 programme is coming back for a third series and is looking for businesses to turn around.
This series runs along the lines of other make-over programmes. Each show takes a loss-making business and helps the owners to change the way in which they run it. Previously featured hotels have apparently benefitted enormously from the advice and priceless marketing coverage.
To contact the programme makers, click here and complete the form at the bottom of their page.
November 26th 2006
We want feedback on your property viewings
We'd like feedback from you whenever you visit a hotel or guesthouse as a potential buyer. We want to hear about your experiences and we want to pass on your anonymous thoughts about those properties to the agents involved.
So if you've already visited a hotel for sale and want to let the us and the agent know what you really thought about it, then please fill out the form on the relevant property page.
Your feedback will
- help us to encourage agents to give you and all our members their best attention
- give agents a sense of how that business is seen in comparison with similar ones on the current market
- give the agents something to pass on to the vendors about how their property has been viewed
November 7th 2006
No Fees from Bedrock! Bedrock Business Finance have decided to offer users of www.hotelstobuy.co.uk an exclusive offer on their service for those of you looking to borrow money to buy your business. They will charge NO BROKER fees if you mention that you heard about them from our site. This could mean a considerable saving for you, bearing in mind that brokers often charge 1% of any loan amount which they help to arrange. Click here to contact Gary Spencer and his team who specialise in lending on commercial properties.
November 3rd 2006
New Article We have added a new article, about handling payments, to our information sheets. Members login to read the feature.
October 2nd 2006
New Maps Where possible, we are now adding a map link within each property's details. This will help you locate the hotels or bed and breakfasts you are looking at. We will not be able to do this for all properties as sometimes we are not given enough information to pinpoint a location. Some others are, by necessity, confidential. We currently include maps for about one third of the properties listed, but this will increase in time as we update our records and add new listings. We hope you will find this new feature useful.
