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

Posts Tagged ‘inns for sale’

Georgia Mountaintop Inn & Spa-High Altitude Escape

June 20th, 2018 by Janet Wolf

Lucilles Mountain Top Inn

Georgia Mountaintop Inn & Spa-High Altitude Escape

A high-altitude escape awaits guests at this beyond the ordinary Georgia Mountaintop Inn & Spa. A pinnacle location in the Northeast Georgia mountains with not just views but wide 360 degree vistas. Spectacular outlooks of blue tinted mountains, endless skies and forested valleys. The Inn was purpose built in 2001, the location was specifically chosen for the vistas and location. Built in the Arts & Crafts style that fits so well with the surroundings. And the surroundings? Diverse with plenty to see and do.

When the highways and now well-traveled parkways were completed starting in the 1920’s, through the 50’s and 80’s, tourism gradually increased. Today the area is a popular well visited destination.

“The area is regarded as the heart of Georgia’s wine country. Moving west, vineyards give way to apple orchards, with apple houses dotting a stretch of Georgia Highway 52, aka Apple Alley.”

In addition the town of Blue Ridge (near the Inn) is the Trout Fishing Capital of Georgia.

Trout, wine and apples, sounds like a good river, vineyard and orchard to table meal to add y to your high altitude escape experience.

A huge part of the experience in the Georgia mountains are the scenic drives and the discoveries found along the way.  National Geographic has a wonderful travel guide book entitled; ‘Drives of a Lifetime’. One of the featured drives takes you on an adventurous drive through the area surrounding the Inn.

“Spend a little more than an hour of drive time traveling through the forested mountains and valleys of Northeast Georgia’s Chattahoochee National Forest or take longer to stop at some of the spectacular sights along the way. This route takes the shady highways that follow the wild and tumbling Chattahoochee River, leads you across the Appalachian Trail and to observation areas along the way where you can see dramatic mountain vistas. Stop to see Georgia’s highest mountain or hike to several waterfalls along the route.”

Georgia mountaintop inn & spa

Lucille’s Mountaintop Inn & Spa

High altitude escape…Lucille’s Mountaintop Inn & Spa for sale, most perfect place to start and end your days. From trout fishing to wine tasting to road trip warriors plus so much more. This is THE place to stay. The Inn’s website has suggested itineraries that illustrate the abundant activities available. Very clever marketing and worth a read.

Let’s take a peak (pun!) at the Inn.

Start with the portico entrance leading into the first level open living room with fireplace and spacious airy breakfast room. The wide wrap-around decks surrounding the breakfast room are truly outdoor rooms!  Throughout the Inn the atmosphere is warm, decorated in rich tones with a contemporary flare.

Georgia mountaintop Inn & spa

The terrace level of the inn features a guest suite with outdoor seating, a newly renovated conference room that opens to the terrace and the inn’s laundry facilities.

Then there is the Spa at Lucille’s, another reason to stay.

A covered walkway leads to the Spa. A large guest suite with a spectacular view sits at one end of the spa building, while a full-size guest apartment sits at the other. All 13 guest rooms are decorated in rich colors and are appointed with luxurious amenities. The inn also has newly constructed private owners’ quarters with a separate entrance and a full kitchen.

Georgia mountaintop inn & spa

Lucille’s Mountaintop Inn & Spa Guest Room

Sometimes the best way to learn about a lodging property is to read from a guest’s point of view. Someone who has experienced the Inn and surroundings.

“We stayed in the Mountain Suite and it was pure heaven. The wall-to-wall windows overlooking the mountains brought peace and solitude. The outdoor copper shower was a dream and very private. The service was impeccable and the breakfasts (which we had served to us outside) were awesome. We will be back in the fall. This place is worth coming back to. A short drive from either Atlanta or Greenville, SC. The surrounding arts and crafts places and restaurants add to the charm of this incredible area.”

Georgia mountaintop inn & spa

Mountain Suite Copper Shower

And did I mention, it is a four season resort.

For guests and for new owners, Lucille’s is near perfection. Pristine condition, spectacular setting and location. Just 90 miles north of Atlanta with easy interstate access. Highly profitable financially viable. Interested? For more information The B&B Team is here to help. Give us a call.

Thanks for Listening,

Janet Wolf

Moosehead Lake-Maine Tourism Region

February 8th, 2018 by Janet Wolf

Moosehead Lake Region Maine

Moosehead Lake-Maine Tourism Region. Photo by Peter Frank Edwards

What is the top industry in your state? Do you know? In Maine it is tourism.  The Maine Office of Tourism is very robust and they work hard at promoting and expanding Maine’s top industry. Their Marketing Partnership Program provides marketing funding to the eight Maine designated tourism regions in the form of grants.

The recipients of grants range from the Whoopie Pie Festival (don’t laugh, it is a big whoopie in the state), to the Portland Bach Experience.

Moosehead Lake-Maine Toruism region

Whoopies!

A grant was awarded to Moosehead Lake Region Chamber of Commerce, (a nice 4 figure amount!). The Moosehead Lake Region, located in The Maine Highlands (Bangor-Katahdin-Moosehead Lake) is one of the eight Maine tourism regions. All 8  regions have their own flavor, their own merits and their own attractions to tourists. Moosehead Lake Region is no exception.

 Congratulations to the chamber, we all need a boost at times. Visitors flock to the region in all seasons but there is always room for more. Bring them on.

One of the great things about the Moosehead Lake Region is the diverse choice of adventures available. From hardline to soft. Since it is February lets’ talk about winter. You can snowshoe, ride the snowmobile trails or…attend a Pig Roast & Bonfire and the 14th Annual Moosehead Lake Chocolate Festival or…attempt all four!

But if you like to have someone else do all the planning, let me count the ways. Many of the Inns in the Moosehead Lake Region offer packages that arrange your adventures for you.

Example package offered by The Lodge at Moosehead Lake

NORTH WOODS IMMERSION

Immerse yourself in the North woods of Maine with an experience you will long remember. This intimate Adventure Lodge has just what the outdoor junky is looking for.

This 4 nights & 3 full days package includes:

  • Day 1: Enjoy scenic one-hour seaplane ride to the tip of the Penobscot River; includes canoe ride to Lobster Lake, hiking, fishing, exploring and a delicious fireside lobster or steak dinner cooked shore side by your private Registered Maine guide (full day trip)
  • Day 2: Full-day whitewater rafting including lunch, back by 4:00
  • Day 3: Complete hiking instructions to Gulf Hagas with picnic lunch – be sure to bring a camera and water shoes to cool off in the river
  • DINNER: One night at the lodge, three course meal in the Lakeview dining room on day other than Fly-In canoe trip. (Alcohol not included.) Lodge serves Wednesday, Friday and Sunday evenings.
  • Gourmet breakfast every morning
  • Lodge at Moosehead Lake Tote bag as a memento
Moosehead Lake

Moosehead Lake, Greenville Maine

Maine is also fortunate to have active Maine Guides that offer a variety of tours. Innkeepers in the region partner with the guides to create some wonderful outdoor adventures. Maine Guides are “recognized around the world as the gold standard in outdoor skills and knowledge.” They have been around since 1897! They are a treasured part of Maine tourism. 

In my most recent blog on destination locations I mentioned that destination locations are not only good for tourism but can be a terrific place to live, raise a family, own a business, as well as visit.

Moosehead Lake

Greenville Inn-Moosehead Lake Country Inn

The B&B Team invites you to explore our two properties for sale in Greenville, Moosehead Lake. The Lodge at Moosehead Lake and The Greenville Inn.

The Lodge at Moosehead Lake

In addition The B&B Team recently sold the Chalet Moosehead Lakefront Motel.  New innkeepers with their family will be welcoming guests this coming spring.

Live the robust life in a robust Maine tourism region. The B&B Team is here to help pave your way.

Thanks for Listening,

Janet Wolf

 

College Town B&Bs for Sale-Opportunity Knocks

October 19th, 2017 by Janet Wolf

college town B&Bs for sale

Opportunity Knocks. College Town B&Bs for sale. Shenandoah Valley Inn

In recent years college towns across the US have been touted as great environments to retire to. Did you know they also make it onto lists of best towns for entrepreneurs? It is not only about education and cultural opportunities. College towns attract industry and employment opportunities. Put this all together and it adds up to? College towns as very good locations for…you got it, bed and breakfasts and country inns. Good college town locations bring good businesses! Lets’ take a look at what The B&B Team has of offer.

Staunton, Virginia-Overlooking the Rolling Hills of the Shenandoah Valley

The list of colleges in close vicinity to Staunton is astounding. Mary Baldwin University, James Madison University, Washington and Lee University, and University of Virginia. In short, Staunton is at the heart of education in Virginia!

With colleges and universities come graduates, many of whom want to get married close to their alma mater. Shenandoah Valley Inn and Wedding Venue for sale is ideally located and with the facilities to make this come true. Plus more…12 acres of grounds surround the inn, 10 spacious guest rooms, commercial kitchen set up for catering and spectacular Shenandoah Valley sunsets! The opportunity here also includes growth. Performance the past few years has been modest but the growth potential is significant, given the property’s perfect setting, size, and facilities for weddings and events as well as luxurious bed & breakfast accommodations.

urban Bed & Breakfat

Annapolis Maryland College Town Bed & Breakfast

Annapolis, Maryland-Colonial Capital City

Best known as the home of the United States Naval Academy. Prestigious comes to mind, Forbes rated it as the #1 public college in the US. St. Johns College is another college draw. The third oldest college in the US with high marks too.  Annapolis seaport and its maritime history attracts more than 1 million people a year to its shores. Quite significant!

The Annapolis Maryland B&B for sale, located in the historic district of Annapolis, is ideally suited for a couple or single owner looking for the pleasant lifestyle of this Chesapeake Bay maritime area. With a MUCH higher Average Daily Rate than most other inns, this Annapolis Maryland B&B for sale offers the location, luxury, privacy, and historic quality for a satisfying innkeeper lifestyle as well as offering additional growth opportunities for a continued strong bottom line.

college town B&Bs for sale

Clinton, New York College Town B&B

Clinton, New York-Mohawk Valley Village

Clinton is referred to as a New England style village, I suppose because of its picturesque historic quaintness. It is very pretty. As is Hamilton College, a highly-ranked liberal arts college and major source of lodging for guests for The Arbor Inn, a successful 7 room B&B. The Inn overlooks the 1,350-acre campus of Hamilton College.

The inn is housed in a handsome 19th century farmhouse with later additions. It sits on 4.8 lush acres, graced by mature maple trees. Outside, a courtyard garden, extensive decks, porches and a patio maximize the pastoral setting. The inn’s business is consistently strong and the lifestyle consistently invigorating. Restaurants, shops and entertainment in college towns offer variety and cultural vibrancy. They don’t just cater to students, the community benefits and supports the businesses. Plus only 10 minutes from Utica, home of Utica College, another vital community.

urban Bed & breakfast

Lehigh Valley PA College Town B&B for Sale

Lehigh Valley, Pennsylvania-Small Towns, Big Hearts

College towns are not all about size, it is about heart, history and the celebration of the culture of our country. You can find all this in the three small towns located in the Lehigh Valley; Allentown, Easton and Bethlehem.

Lehigh Valley Pennsylvania Inn for sale is visited by business and leisure travelers and families visiting Lehigh University, Lafayette College, Muhlenburg College, DeSales University. Another multiple college town of Easton. The inn’s strong relationship with the local colleges as well as two hospitals and a nearby industrial park is a large part of the Inn’s guest base. Eighteen guest rooms consistently occupied by parents of students, visiting performers and speakers, business travelers, as well as families visiting the hugely popular Crayola Experience.

Staunton, Annapolis, Clinton and Easton…these college towns and the inns for sale within offer good solid places to live and work. Your entrepreneurial spirt can thrive and grow in these locations. Opportunity knocks once again.

Thanks for Listening,

Janet Wolf

Old Orchard Beach Historic Inns

July 13th, 2016 by Janet Wolf

Old Orchard Beach Historic Inns

Old Orchard Beach-250 years of fun

Long before people went to the beach for recreation Native Americans populated beaches like Old Orchard Beach for reasons of sustenance. Tribes from Massachusetts, Maine, and Connecticut cooked clams and lobsters in sand pits as means of subsistence as far back as 2000 years ago. Early settlers observed these ocean-side feasts and created their version, the New England Clambake. In those bygone days the lobsters were so plentiful that one could fetch their lobster dinner from tidal pools with bare hands. Hope they were careful, no rubber bands on the claws I bet. Build a fire on the beach, gather some seaweed. Now that is a picnic!

Today folks gravitate to Old Orchard Beach and its 7 miles of wide sand beaches for recreation, a relaxing sun bath and a brisk swim or a barefoot shoreline stroll. For sustenance, a shore dinner is always available nearby (without sand). And after the sun sets and darkness ascends the shoreline, another kind of scene emerges. Fireworks and night baseball, concerts in the park and bonfires on the beach. And what would nightlife on the beach be without an amusement park. Viewing the miles of beach from a Ferris Wheel or speed it up on a roller coaster.

Old orchard Beach historic inns

Old Orchard Beach Pier at Sunrise

Old Orchard Beach on the southern coast of Maine has a very famous PIER and amusement park that light the sky, and the beach day extends into more hours of fun. For over 250 years ‘the beach’, as it is called by the locals and generations of returning tourists, has been a summertime mecca for millions. From the early settlers who came to swim and picnic behind the large rock formations to today’s tourist that can enjoy everything this Maine seaside resort has to offer. It is said that it is ‘impossible not to have fun at O.O.B’.

Throughout Old Orchard Beach and its 250 years of history there are many ‘firsts’. Like the first Boarding House built in 1837 by E.C. Staples. He was convinced of Old Orchard Beach’s potential as a summer resort. Smart guy. It was originally a 1730 farmhouse that was converted by Mr. Staples and opened to travelers as Ye Olde Staples Inn when there were only 3 other buildings in Old Orchard Beach. In 2000 it was purchased and completely renovated and today stands proud as Maine’s first Inn, the Old Orchard Beach Inn. Authenticity is an important element in a bed and breakfast and the original beams and restored wide pine floors offer a warmth that many of the newer lodging establishments at the beach cannot duplicate. Location is also key and guests can walk to the beach and pier and restaurants, yet is set on a tree lined one acre corner lot. The 17 guests rooms offer lodging choices for families and couples. The town is planning on establishing an historic walking tour next year. The history walks will contain panels placed near landmarks with text and photos. The Old Orchard Beach Inn is on the list!

Old Orchard Beach Historic inns

Old Orchard Beach Inn

At the turn of the last century, Old Orchard Beach was a well-established resort town. Summer cottages were built in the popular shingle Maine cottage style. In 1902 renowned architect John Calvin Stevens built a cottage for a family in Old Orchard Beach. It is now the Atlantic Birches Inn Bed and Breakfast, one of the many buildings in the re-vitalized Historic District. New Victorian lighting, wide brick tree-lined sidewalks and an outside dining courtyard complete with fountain in Town Square and a newly renovated Town Hall. This 10 guest room bed and breakfast is beautifully landscaped with a swimming pool and gazebo. The inside features architectural detailed woodwork that John Calvin Stevens was known for, gloriously restored. He was also known for his classic wrap around porches. Atlantic Birches Inn has a beauty!Old orchard Beach historic inns

Old Orchard Beach Historic inns

Atlantic Birches Inn-Old Orchard Beach

The B&B Team offers these two Old Orchard Beach historic Inns for sale as beautiful examples of bed and breakfasts that have been lovingly restored and celebrate the rich history of their town. For future innkeepers who are seeking historic inns in a vibrant beach resort in Maine, it may be time to look at Old Orchard Beach.

Thanks for Listening,

Janet Wolf

Onancock Virginia-A Corner of Paradise

July 14th, 2014 by Janet Wolf

 

Onancock Virginia butique hotel

Charlotte Hotel and Restaurant, Onancock Virginia

Every once in a while a location discovery is made that resonates with you and you just keep going back. In the case of Onancock Virginia the discovery was first made by Captain John Smith in 1608. He called the area now Onancock, “The gem of the Eastern Shore”. But according to photographer and travel writer Mark Edward Alkinson in an article, ‘A Shore Thing’, in the July/August edition of Virginia Living, the area is still relatively unknown by the general travelling public. He also writes that the locals worry a bit that ‘their secret might get out and their paradise be ruined.’

My take on that. Our country has many heavenly locations, we all have our travel bucket lists. Onancock Virginia is one and well worth a visit. The community may well be protective of their paradise but they are also known for being exceedingly hospitable to visitors and newcomers. They are a sharing lot.

Onancock Virginia map

Onancock Virginia Location

Where to stay?  You know I was going there, right? The Charlotte Hotel is a boutique hotel and restaurant  with a distinct style and charm. Located in the heart of Onancock Virginia village. Writer Alkinson says the hotel is “home to one of the best little bars in America, really.” To go along with your adult beverage you will experience glorious food with a distinct taste of Virginia’s eastern shore. Local wines from Church Creek Winery and local waterman and farmers products are featured.

Onancock Virginia

The Charlotte Hotel supports local watermen and farmers.

The Charlotte Hotel has eight guest rooms. The décor is refined with an artistic soul. Innkeepers feature their own created hand crafted furnishings and botanical artwork placed throughout the property. Reviewers comment on the open contemporary feel of the Inn’s rooms. Yet there is an intimacy and coziness, a great combination.

Current owners have built the business over the last eleven years and it is solid. They are now ready to move on.  Interested? To get a real visual idea of this little corner of paradise click here for a nice video. For more detailed information visit our Inns for Sale listing.

You just may want to visit, come back and then decide to stay in paradise. Onancock Virginia style.

Thanks for Listening,

Janet Wolf

Deluxe Cabins-Options for Innkeepers and Guests

March 14th, 2013 by Janet Wolf

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1950’s Virginia Motor Court Cottages two miles west of Waynesboro

Cabin5_KB[1]

Yes…this is a cabin in the woods

The roadside motel or cottage court of the 1950’s and 60’s is a tribute to Americana. Merge nostalgia with modern guestroom amenities and what do you get? The Iris Inn’s newest lodging option, cabins designed just for a couple’s getaway. Innkeepers Dave and Heidi Lanford have created what they call a ‘contemporary adult tree house.’ The Iris’s Inn’s location overlooking the Blue Ridge Mountains of Virginia is the perfect spot for these luxury cabins. Imagine your personal hot tub in your personal screened porch, step through to the bathroom with heated floor and two person rain head shower. This ain’t your grandmother’s tourist lodge auto camp roadside cabin-cottage, that is for darn sure.

IrisInnx-WineTaste-04-L[1]

Dave doing what he loves!

After all this relaxation and activity?! If you have the energy, you can walk up to the main lodge and have a glass of wine with ol’ sourpuss Dave. You can see from this photo that he just hates his job!

Heidi and Dave were inspired to add their luxury cabins by innkeeper friends Melissa and Ray Alexander, innkeepers of neighboring property Alpine Hideaway . Their luxury secluded cabins are perched atop the Blue Ridge overlooking  the Shenandoah Valley’s green fields and blue mountains. Perfect for a romantic cocooning getaway, as we all know Virginia is for Lovers.  Another inspiration was the fact that these units are very profitable for the Alexanders and will surely be for the Lanfords. Both couples are clients and seminar graduates of The B&B Team. Success, we love to see it, especially for such nice and smart innkeeper clients and friends.

Alpine Hideaway Cabin in the Blue Ridge Mountains of Virginia

Alpine Hideaway Cabin in the Blue Ridge Mountains of Virginia

orbitin-home-5[1]

A classic 1950’s motel renovation Palm Springs style

Another trend is the growing number of “boutique motels”. Vintage motels in destination locations that have been transformed into unique properties. Take the example of the Orbit in Oasis, a trendy desert motel in Palm Springs CA. The mid century modern craze is alive and well at the Orbit with poolside breakfast, cruiser bikes and cocktails at 5. Soft jazzy Sinatra background music poolside and warm desert breezes complete the picture.

Searching for lodging properties with cabins, cottages, motel units? Look no further than The B&B Team Inns for Sale. We have some great properties in pristine condition as well as properties ready for a transformation. We can help you. Properties from the Pacific Northwest in Washington state, the Blood Mountain Cabins in Georgia, and Virginia to the mid-coast of Maine. Great destination locations.

Luxury Cabins in the Columbia River Gorge Pristine and available

Luxury Cabins in the Columbia River Gorge, Washington state. Pristine and available

Abbington's Seaview Motel & Cottages in Mid Coast Maine offered for Sale. Transformation opportunity, you bet!

Abbington’s Seaview Motel & Cottages in Mid Coast Maine offered for Sale. Transformation opportunity, you bet!

The fact that the B&B experience can be offered in different style properties is exciting and offers guests options when choosing their lodging. The opportunity for innkeepers to add to their business by adding cottages or cabins or transforming a mid-century motel is also exciting. Whether deluxe or rustic, we all like options and the single unit cabin-cottage option is a great way to give your guests the choice to experience the intimate cocooning getaway. The boutique motel option may offer more of a communal experience but the accommodations can be personable and memorable even if a bit cozy. The opportunities are out there, take the plunge.

Thanks for Listening,

Janet Wolf

 

 

 

 

Chester Vermont-Country Inn and B&B Mecca

January 16th, 2013 by Janet Wolf

Chester, "the Vermont you've been hoping to find"

Chester, “the Vermont you’ve been hoping to find”

In southern Vermont lies a quiet, friendly town, Chester. The town is known for many things, it boasts of two historical districts and three villages as well as zero stoplights! Its location is idyllic, nestled on the eastern slopes of the Green Mountains in the heart of Okemo Valley, the well-known ski and year round cool resort for all. It is also known for the number of bed and breakfasts that dot the village streets and countryside. The Chester Vermont Innkeepers Association lists 13 properties totaling 125 rooms. In days of yore travelers would journey by stagecoach along the Green Mountain Turnpike that stretched between Boston and Montreal. Chester was a major stop for many a weary, hungry and thirsty traveler. Like many towns and villages in New England, Chester had an Inn and tavern that became the anchor of the Main street business district and it still stands as vibrant and welcoming as it did in those early days.

Going back to the article about Norman T. Simpson from 1982 featured in my previous blog, I quote the author; “It was near dinner time. The fire crackled and flames leaped high in the brick fireplace in the Inn. Guests and townspeople came in from the cold winter night, and stood in front of the blazing fire for a few moments before going into the formal dining room or the more rustic tavern.” This scenario has been played out numerous times in country inns everywhere, such a welcoming vision.

The fire crackled and flames leaped high

The fire crackled and flames leaped high

This Chester Vermont Inn with its lantern shining brightly is the gathering place for locals and travelers from away who join together around the constant welcoming hearth. The Inn features fine yet casual dining and tavern fare and has facilities for meetings and events. Yes there may be a number of restaurants and watering holes throughout the region but being the anchor, innkeepers of the Inn will always have that strong standing in the community. It is a great place to be. The lodging has been recently refurbished and rounds out the total picture.

The anchor of Main Street

The anchor of Main Street

The B&B Team is proud to represent this quintessential Country Inn in Chester, Vermont. Norman, in his search for country inns always looked for inns with a “distinctive personality, integrity, pride and dedicated inn keeping.” If you as an aspiring innkeeper are also searching for these qualities in a country inn or bed and breakfast we can help guide you through your search. The Okemo Valley Country Inn we are offering for sale is a prime example of the kind of Inn Mr. Simpson visited and recommended in his many travel books. The B&B Team invites you to read, learn and be inspired and join us in one of our ‘Better Way to Learn Innkeeping’ Seminars. I think Mr. Simpson would concur.

Thanks for listening

Janet Wolf

 

Tennessee Urban Inn In Chattanooga

October 15th, 2012 by Janet Wolf

Historic Urban Opportunity

 

Think historic romantic charm then think urban chic, put them together and you get The Stone Fort Inn in downtown Chattanooga. The B&B Team is pleased to offer this unique specialty lodging for sale. What is so wonderful about all the bed and breakfasts, country inns and boutique hotels we currently offer buyers is they are all special and unique in their individuality. This is what we love about our participation in the small lodging industry.

The Stone Fort Inn is a superb opportunity for an enterprising entrepreneur individual or group who is looking for properties that include facilities for special events, conference,wedding and meeting venues with a restaurant and bar. The public facility rooms can accommodate 150 for a stand up reception, 60 for a seated service and 80 for a buffet. The location is extraordinary within walking distance to the riverfront and the very active and chic downtown district. Chattanooga is known as the ‘Scenic City’ and Stone Fort Inn is a bright spot in that scene!

Chattanooga River Scene

The property offers 15 guest rooms that are truly styled for today’s traveler, business or leisure. Hear what guests have to say.

What is in this offering for the future owner of this one of a kind property? Do you like the number 5 multiplied? Occupancy is in the 50%+ range as are the current revenues in excess of $500,000. Growth opportunities, you bet. There is always room for new owners to improve and put their stamp on a successful business. The restaurant is currently used for events at the Inn but could easily be opened to the public and join the burgeoning downtown food scene. You like the night life? So would your guests and local Chattanoogans. The bar could become a lively night spot and a great profit center to add to the above revenue figure.

Guests come from far and wide

 

 

So aspiring future or current innkeepers who are looking to add to their portfolio I hope you found this information interesting and would like to delve further. The B&B Team would love to hear from you.

 

Thanks for listening

Janet Wolf

T is for Trust…Especially Between an Inn Seller and Buyer

January 11th, 2012 by Scott Bushnell

Just yesterday I received a call from an innkeeper with whom I have had a relationship who was considering selling his inn, a 7 room bed and breakfast inn in a nearby state.  Just what we do!  Thanks for the call!   We opened up a dialog about the inn, its size, its location, discussed the process, and then I suggested he send me a copy of his 2010 and 2011 financials.  You would have thought I was asking for his FBC (first born child).  “I just will not get into the hassles of trying to explain my financials and business with ANYBODY.  Just sell my inn!”  He was adamant and fixed in his stubbornness.

My antennae went up like a dog’s ears at suppertime.  After failing to convince him that this is an important step to understanding the revenue and net operating income of the inn (to help establish its value), we closed our conversation that perhaps the best way to sell his property is as a residence through the local MLS system since a buyer would never be able to get a commercial loan on that property without the bank seeing the financials.  He was satisfied with that…I guess.

But the point is trust.  I lost trust with him.  Was he cheating the IRS and did not want to let anybody discover it?  Were his numbers so poor that I would be trying to sell his inn only on its potential?  Does he even have records?  All kinds of distrustful thoughts went through my head.  I hope all them are wrong.  If a seller, perhaps even unwittingly, withholds information from a buyer, trust is jeopardized, and with the limited number of buyers and the huge inventory of inns for sale, buyers will look elsewhere.  Building Buyer/Seller trust is critical.  So how is it done?

Like a good Boy Scout…Be Prepared!

  • Having complete and accurate records (including taxes…they will be scrutinized during a buyer’s due diligence period)
  • Track occupancy by month from year to year.  A buyer wants to see the seasonal nature of the inn (especially to understand what happens in the slow season).
  • Have a complete Inclusion/Exclusion list of the furniture and fixtures will transfer with the property and what will go with the sellers.
  • For a smaller inn, have a property condition disclosure (available from any real estate agent) prepared.  This is required in many states anyway.
  • For larger inns, consider a Seller’s Inspection completed BEFORE a buyer’s inspector finds any defects (and they WILL find the problems!),  This inspection demonstrates full disclosure of the condition of the inn, provides a report accuracy defense in the event the buyer’s inspector overinflates the seriousness of a deficiency, and leads to a corrective plan to defuse emotions and begin negotiations.
  • Keep your gift certificate log current
  • Open and honest conversations about marketing, buyer’s opportunities, and full disclosure.

When Marilyn and I were looking for our inn long ago (the Dead Sea was only sick back then), the owner of one of our candidate inns pulled me aside and said “Don’t worry about the numbers, Scott.  I put two kids through college on this inn!”.  We left never to return.  If he was willing to cheat the IRS, he was willing to cheat us.

Innkeepers…think about the “surprises” that made YOU angry when you bought your inn.  We’ve all been there.  Think like the buyer of your inn.  What roadblocks can be removed now to build Trust and not jeopardize the chances of a timely and financially rewarding transfer.

Anybody have any trust surprises when you bought your inn?  We would love to hear about them and what could have been done differently.   Scott

Where Is This Bed & Breakfast?

June 17th, 2011 by Janet Wolf

Here in Maine we have a great magazine, Down East, which has been the best source for all things Maine for decades.  In every issue they have a feature called ‘Where in Maine?’ Readers can try to identify a place and send in their response and in the next issue the place will be revealed. So I thought it would be fun to create our own mini feature, Where Is This Bed & Breakfast?  The properties chosen in the post may be one of our Inns For Sale or not. They may be an innkeeper colleague and friend or…

Bed & Breakfast # 1:

  • · Their colors are red, turquoise and orange.
  • · The rooms are few with a flighty theme.
  • · The innkeeper femme blogs with insight and knowledge.
  • · The city location is A # 1.

Bed & Breakfast  #2

  • · Location a state where some ‘boys’ come from.
  • · Victorian in style with salt air quite near.
  • · Innkeepers take pride within their select group of inns.
  • · Guests won’t be ‘ board’ with all the thrills close by.

Fire off an email to The B&B Team or post a comment here if you can identify these picturesque bed and breakfasts. Have fun!

Janet Wolf

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