Small hotels and resorts are usually a good investment and a source of stable income, especially for retirees and freelancers who prefer a certain lifestyle.
The hospitality business is very popular among retirees and those who are approaching the retirement. A vacation-like lifestyle, combined with steady cash flow and property value growth, make owning a small resort or a hobby farm a dream scenario.
Another great thing about small hotels and resorts is that you can improve their appeal, and hence profitability, by incorporating your hobbies and passions into this business. For example, if you are into yoga and wellness, you can create a spa resort. If your passion is cooking, then you can open a culinary school in your hotel, and so on.
I help my clients not only with selecting and purchasing properties that can be used for the hospitality and accommodation business, such as small hotels, resorts and hobby farms, but also with choosing a hotel concept, developing a business model, and organizing the entire business operation.
The population of Toronto is growing every year and so is the demand for quality vacation options in popular recreational zones around Toronto. However, the supply is far behind this growing demand. Moreover, the resorts, lodges, and B&Bs very often are outdated, worn down, and in bad shape. Besides, they don't offer much entertainment options to their guests. Such unique market conditions create opportunities for entrepreneurs with a vision. You can buy a small resort for a very reasonable price, and then turn it into a profitable business by being creative and attracting more guests.
There is a growing trend of buying properties in other countries that can generate an income, which is especially popular among retirees. Usually this includes small hotels and resorts located in tourist areas and places that attract vacationers. Purchasing a small hotel or resort gives its owner an opportunity to live in the place he likes and to have the lifestyle he wants. In addition to that, such a purchase is a good investment, since its value only grows over time, and it provides a stable income to cover living expenses. In recent years, this trend has been gaining more and more popularity among Canadians.
For those who would like to become an owner of a small hotel or resort, but do not have enough funds to finance the entire purchase, there is an option to buy jointly with other partners. In particular, I help find such individuals who want to invest in the real estate based projects, by using the Shared Ownership Investment model. The SOI is a simple and reliable model allowing enter a profitable business with little funds, jointly with other investors. If you want to attract additional investors through this model, you need to prepare a detailed and convincing business plan for the selected small hotel or resort, and show how you can build a profitable business based on this property.
Me and my team are ready to offer you our expert advice and help in selecting such properties, and developing a strategy for rebranding and improving the business in order to make it much more profitable. I provide my assistance on every step of this process, recruiting other specialists, if necessary.