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.