Inn Consultants and Brokers Since 1993

The B&B Team

Rick Wolf and Peter Scherman (that’s Rick on the left and Peter on the right) are both experienced speakers who have presented on a range of innkeeping related topics at the state, regional, and national level. They gather and analyze research for the Innkeeping industry and welcome the opportunity to share it with others. Contact Us

Archive for the ‘Real Estate Terms’ Category


F is for Feasible Inn for Sale

September 7th, 2011 by Peter Scherman

Unlike lifestyle or financially viable inns, by “feasible” we mean “properties with a size and location that have the realistic potential to become financially viable. They may include unique hospitality properties that are distressed, closed, under-performing, or currently used for other purposes.” What kinds of bed & breakfasts are we talking about?

V is for Values in Business

August 30th, 2011 by Peter Scherman

We all like to think that we are being treated “the right way.” One can argue that “the right way” may vary from person to person, as what is “right” for one person may not be so for another. But there are some fundamental practices that embody values and “the right way” to treat others in business. In the simplest and broadest sense, being honest is core to the concept of values. Honesty is not subjective; either someone is telling the truth, or they are not.

Calculating Occupancy for a Bed & Breakfast

September 24th, 2010 by Peter Scherman

Occupancy rates are used throughout the bed and breakfast industry to indicate how often rooms are occupied. How occupancy is calculated is a mystery to many current and aspiring innkeepers, but it’s really very simple if you know what the rules are. The first rule is that a year always has 365 days except for […]

Real Estate Terms: Good Will

July 27th, 2010 by Peter Scherman

by Peter Scherman of The B&B Team What exactly is “good will?” Good will is what is known as intangible personal property that is part of a business. With an inn, as we discuss in the article, “The Components of Inn Value,” the base value is real estate. On top of that you have FF&E […]

Real Estate Terms: Letter of Intent

July 27th, 2010 by Peter Scherman

by Peter Scherman of The B&B Team Frequently in searching for an inn to buy, you find something that looks like it just might be the one. Unfortunately, you don’t really know, because there is a lot yet to be learned before making a firm commitment. If, however, you know enough (especially the financials) to […]

Real Estate Terms: Turnkey

July 27th, 2010 by Peter Scherman

by Peter Scherman of The B&B Team Do you know what they mean by “turnkey”, “mostly turnkey”, or “real estate only”? The terms are frequently seen in advertising of bed & breakfast inns for sale: “turnkey,” “mostly turnkey,” “real estate only,” “real estate and good will.” They provide clues to what is included in the […]

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