Recessions are always a possibility, even when an...
Every year there are a number of people who visit our site that are interested in hotel ownership. Some have taken the plunge while others remain on the fence.
There are many advantages in owning a hotel franchise. Head office support helps you select a location and determine which amenities you should provide. Being part of a franchise provides the opportunity to review historic financials, allowing you to reasonably estimate the possibility of income and expenses. With a large selection of hotel chains to choose from it is possible to own a small budget hotel or a luxury five star establishment.
If you are going to purchase a hotel, you should partner with a group you know will be capable of providing the level of support you require. One hotel franchise currently expanding rapidly in Canada is Choice Hotels. With over 6,000 hotels from 10 chains operating in 30 countries, these guys have established themselves as an industry leader. They are known for their extensive support system for franchise owners. This is done through an experienced reservation system, affiliates programs, and a serious marketing campaign that brings customers from around the world to franchise hotels. This creates continuous income for investors.
Owning a hotel franchise is a large investment so it is natural to feel hesitant. Purchasing a hotel franchise means you won't be alone in your journey, the franchisor will support you every step of the way. Remember, they only make money if you do so they have a vested interest in ensuring you are profitable. If you are looking for a sound investment, hotel ownership is definitely worth exploring further.