Updated over 6 years ago on . Most recent reply
Airbnb Operator wanting to buy Hotel
I run an Airbnb short term rental business in Chicago and getting close to 100 units under management. I master lease properties
I have a substantial operation supporting my current volume.
Guests Services, Operations, Marketing, Pricing, Finance, Cleaning team, Handymen etc.
I am interested in the idea of purchasing a boutique hotel and run it within my current systems.
I have no experience in finding a hotel, market value of them, or anything.
My questions stems from do you think it would be an easy transition to operate the business side of the hotel with the infrastructure i already have in place?
What would be the best way to find out hotels for sale in Chicago? Theres literally just 1 on loopnet.
Are hotels valued by the NOI of the business divided by the cap rate? That would over value you the real-estate if thats the case. But i guess i am buying the real estate and the book of business as well
How do banks finance Hotel purchases
What are other things i should consider when looking to get into this type of business/real estate purchase.