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Hotels and Motel Financing

Types of Hotels and Motels Services

Aside from providing accommodation, hotels and motels also offer a wide range of additional services that are designed to provide guests with a home away from home.

  • Dining. Whereas most motels typically have on-site diners and casual dining establishments, hotels may be expected to have a mixture of informal and formal dining establishments. Hotels and motels may operate these establishments as a part of their business or have other companies lease commercial space within their property.
  • Laundry. This type of service may be offered with or without charge. Again, it all depends on the expectations of the clientele as well as the marketing campaign of the hotel or motel.
  • Pet lodging. A small number of hotels and motels – typically those that target families as their clientele – offer board and lodging as well for pets of guests. This type of service is, however, not something that a business can easily offer as it has to adhere to a different set of rules and regulations.
  • Gift shop. Most hotels and motels operate their own gift or souvenir shops and especially when the establishment is located in a very tourist-friendly area.
  • Convenience store. Hotels are often expected by their guests to have their own convenience stores if their establishment happens to be the only one of its kind in an area or if their establishment happens to be located a good distance away from downtown.

Types of Hotel and Motel Business Expenses

When operating a hotel or motel of your own, expect your expenses to be higher compared to most other types of businesses. Aside from the fact that they are a service-based business, hotels and motels are also costly to operate because they are expected to provide guests unlimited access to certain types of services and amenities. These include but are not limited to water, electricity, cable TV, and Internet access. So expect to cover these costs when you're running your own hotel or motel:

  • Salary
  • Utilities
  • Supplies, both consumable and non-consumable
  • Regular maintenance
  • Taxes

Why You Need Hotel and Motel Business Financing

Financing is something that hotel and motel business owners have to be very well acquainted with because of the endless need for additional investment and expenditure to ensure that one's property remains attractive, safe, and comfortable for its customers.

Upgrade accommodation

One of the best ways to make your hotel and motel competitive is to ensure that you offer the loveliest and most comfortable accommodation in the area. This means ensuring that room standards always meet your clientele's expectations.

Upgrading your rooms is not, however, exactly affordable. Having your floors varnished may sound cheap, but imagine multiplying the cost by the number of rooms that you have in your hotel or motel and the amount would immediately balloon.

Pest control and management

Pest control is not as expensive when it needs to be done on a regular-sized home. However, when it's a hotel or a motel that needs one, then the cost can be substantial. For one, pest control fees depend greatly on the size of the edifice that needs attention. Secondly, these types of establishments are required to adhere to much stricter pest control standards as compared to non-commercial structures such as a home, for instance.

Offer new services

Your hotel and motel is also likely to be more popular if you can think of additional services to offer to your clientele. You can invest, for instance, in a more powerful router as well as subscribe to a more expensive Internet access plan to provide wireless connection for all your guests 24/7.

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