Five Crucial Steps to Selling a Hotel or Motel Online
By Mike Handelsman Group General Manager, BizBuySell.com | October 28, 2008
Selling your hotel or motel is a life-changing event.
The decision to sell can be brought on by many factors, including a change in location, finances, or lifestyle. Whatever the reason, sellers should be aware of basic steps that can make the transaction more efficient and effective.
Statistics from the BizBuySell website show that hotels make up one category of businesses that are frequently bought and sold on the site. As more and more business owners are choosing to take a do-it-yourself method when it comes to selling, we are noticing a growing number of hotel owners using online outlets to put their business on the market, as well as a growing number of would-be hotel buyers browsing our site.
Unfortunately, we also see many hotel owners attempting to sell online using largely ineffective methods. These situations are usually the result of a lack of research and preparation before listing a business, and can greatly increase the amount of time a business is on the market, can make the selling process more frustrating than it should be, and can result in a much lower selling price.
The good news is that if hotel owners looking to sell devote time to researching proper selling methods and follow simple steps, the process can be a breeze.
With access to over 50,000 business-for-sale listings on BizBuySell at any given time, we have developed a set of five basic steps business owners can follow when listing their business for sale. They include preparing to sell, using Web tools to your advantage, providing the right information, screening buyers and closing the deal with due diligence. If hotel owners learn the details of these steps and take them into account, they are bound to find the selling process pans out as a great success.