Selling Your Hotel Online: The Top 10 Tips for Success

By Mike Handelsman Group General Manager, BizBuySell.com | October 28, 2008

Each year, thousands of hotel owners decide to sell the business for a variety of personal and financial reasons. Whatever the cause, selling successfully requires the owner to think creatively in terms of attracting the most potential buyers and weeding out the ones who are not really serious about buying.

According to a recent Yahoo Inc. poll, two-thirds of Americans dream of owning their own business. Potential buyers are always looking, and many of them look online. Hotels are frequently bought and sold online. At BizBuySell, an online business marketplace with over 50,000 business-for-sale listings, we see many interested buyers and a growing number of sellers in this category. Beyond simply giving you access to buyers who you might not otherwise meet, selling a hotel online makes economic sense. Putting your hotel for sale on an online business marketplace is cheaper than placing a newspaper classified ad, and will ensure much more widespread exposure.

To realize the most success in selling your hotel online, it is imperative to maximize the effectiveness of your listing. A well thought-out and well-written listing will allow you to attract more prospects and better sort out the serious buyers from the rest.

By keeping in mind the following "10 commandments of quality online listings," you can help ensure that your hotel attracts the best potential buyers, and that the selling process goes quickly and smoothly.

1. Include Key Financials

It is essential to include as much financial information in your listing as you can. Including the numbers, such as revenue and cash flow, can greatly increase the amount of views for your hotel listing, as this is the most common way potential buyers search for businesses.

Choose a Social Network!

The social network you are looking for is not available.

Close

Hotel Newswire Headlines Feed  

Katarina Puckett
Jeff Slye
Andrew Dyer
Lynn McCullough
Dawn Miller Sander
Paul Feeney
Michael Hess
Michael Bedner
Brenda Fields
Scott D. Hollis
Coming up in June 2019...

Sales & Marketing: Selling Experiences

There are innumerable strategies that Hotel Sales and Marketing Directors employ to find, engage and entice guests to their property, and those strategies are constantly evolving. A breakthrough technology, pioneering platform, or even a simple algorithm update can cause new trends to emerge and upend the best laid plans. Sales and marketing departments must remain agile so they can adapt to the ever changing digital landscape. As an example, the popularity of virtual reality is on the rise, as 360 interactive technologies become more mainstream. Chatbots and artificial intelligence are also poised to become the next big things, as they take guest personalization to a whole new level. But one sales and marketing trend that is currently resulting in major benefits for hotels is experiential marketing - the effort to deliver an experience to potential guests. Mainly this is accomplished through the creative use of video and images, and by utilizing what has become known as User Generated Content. By sharing actual personal content (videos and pictures) from satisfied guests who have experienced the delights of a property, prospective guests can more easily imagine themselves having the same experience. Similarly, Hotel Generated Content is equally important. Hotels are more than beds and effective video presentations can tell a compelling story - a story about what makes the hotel appealing and unique. A video walk-through of rooms is essential, as are video tours in different areas of a hotel. The goal is to highlight what makes the property exceptional, but also to show real people having real fun - an experience that prospective guests can have too. The June Hotel Business Review will report on some of these issues and strategies, and examine how some sales and marketing professionals are integrating them into their operations.