Hotel vision/idea- how do I execute it? Where do I begin?

Question

Hello everyone!

I thought up an idea for a hotel building- I found what I believe is an ideal location and I know there is demand for it. I suppose most people ready to take the plunge into creating and investing into building a hotel are seasoned investors or contractors, however, I believe I found an excellent location and market and I have a design background so I am not concerned as far as the design of the building goes.

My question: does anyone have any resources on where to begin a project as large as this? Has anyone developed a hotel space as somewhat of a novice in the industry?

Matt K. · Answer

You are going to need to find a way to get this funded... or talk people with the funding or access to the funding into sharing your vision. You should probably first start with figuring out the zoning, figuring out the projected demand (document/show how you came up with those numbers), and then show est cost, revenue. You could in theory do this at a very high level and provide something like an executive overview to those better versed in this world (hotel owner would be good start).

Kurt McDowell · Answer

I would present your idea to a local Hotel owner and ask for their opinion/assistance.  Ask if you can apprentice with them to learn how to develop Hotels.