by Rick Newman of Commercial Capital Network, LLC Updated October, 2018 All Bed & Breakfasts/Inns are unique by design. In fact, it is that unique quality that separates one Bed & Breakfast/Inn from the next. Innkeepers invest their energy and capital over time to create a welcoming and hospitable environment that is special to them, […]
Financing the Purchase of a Bed & Breakfast Inn Read More »
I received a short message from Mary and Alan Duxbury at The Carlisle Housein Carlisle, PA., and Alan offers TEN time and effort-saving tips for innkeepers. Mary makes the best quiche in the world and I opted for a picture of the quiche instead of Alan (sorry, Alan!) Many of Alan’s tips involve technology and how its use can be
Technology for Inns … Tips for Making the Innkeeping Lifestyle a Bit Easier Read More »
To stand out from all the rest, ANY product needs its unique selling feature that will lure the shopper to its website, and ultimately make the purchase. Bed & Breakfast Inns are no different. Your search engine optimization efforts will get your site high on the results page of the search, and then the attractiveness,
What Niche Market Does Your Bed & Breakfast Target? Read More »
Innkeepers are the best when it comes to delivering a great experience for their guests. Smiles come easily, breakfast is delicious, and the world just looks, well, rosy. Or does it? On the best of days even the best inns, as we well know, aren’t perfect. But if perfection is what you strive for, and
An Inn Tune-up for Your Bed and Breakfast Read More »
1031 Tax Deferred Exchanges are wonderful when they work, but we've just learned of a financial disaster and believe everyone needs to take note. Simply put, a 1031 Tax Deferred Exchange is a mechanism whereby a real estate investor can roll over the cost basis from one investment property to another and defer paying capital gains taxes
1031 Exchange Warning and Advice Read More »
These are tough times, no doubt about it. They were tough for the lodging industry after 9/11, too, and the immediate response was to discount rooms in hopes of filling them. Back then it worked, sort of, but the long term consequence was a period of several years to rebuild ADR and RevPAR. So what's
Innkeeping Success Without Discounting Read More »
Every year on April 16 many of breathe a sign of relief that our tax returns are finally filed and (gulp) we’ve stroked a check to Uncle Sam for what has hopefully been a profitable year. Procrastinators file extensions but still have to pay up. Many innkeepers, especially those with smaller properties, are often pleased
Innkeepers and Taxes. Are Yours Done Yet? Read More »
There’s been a lot of news lately about online reviews, and sometimes it’s hard to know how to measure their impact on innkeepers. Well, now we have some great statistics to share. A recent article from TravelMole reported that The Kelsey Group and comScore.com did a joint research project that focused on hotels (lodging), restaurants,
Online Reviews Impact Bottom Line Read More »
It’s always exciting to find inns that really "get it" when it comes to marketing their properties. It’s not that there is just one way to do it, but that most successful inns follow one consistent pattern: they all pay a great deal of attention to what is happening: at their inn, in the marketplace,
This is how marketing is done… Read More »
The past month has seen some pretty dramatic gyrations in the equity and mortgage markets evidenced by near panic on Wall Street and, no doubt, in some homes. If you’re thinking about becoming an innkeeper, we always say that you need to take stock of your assets. They may be less today than a few
Furor Over Mortgages Creates Opportunity Read More »
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