Gozo Hotels Bed & Breakfasts for Long Let & For Sale
How to Make the Most of Your Hotel or Bed & Breakfast Investment in Gozo.
Buying or Letting a Hotel or Bed & Breakfast in Gozo Malta.
Many of today's successful hotel owners in Gozo got their start in the sector with little more than a dream and a good business plan. Here is a rundown of the essentials to think about if you're thinking about buying a hotel on the island of Gozo, Malta, and joining them.
GEOGRAPHICAL LOCATION on Gozo
Although it may seem obvious, picking the ideal location on the island of Gozo is crucial to the ongoing success of your hotel. A hotel in the city of Gozo requires a completely different business plan than one in a more rural section of Gozo, like the coastal Towns of Gozo, despite the fact that both provide excellent potential.
Be familiar with your GOZO clientele.
Once you've settled on a spot in Gozo, it's time to figure out whether your business will cater to tourists, locals, or just regular folks in the area looking for a bite to eat.
Gozo Direct: ASK AN EXPERT
There is no need to discount the value of consulting with experts in the hotel industry. Experts in these fields, such as attorneys and accountants, help safeguard your capital. Even if the property is already functioning as a hotel in Gozo, it is still a good idea to have it inspected by surveyors, valuers, and architects to make sure it is suitable for your needs.
Gozo: A PLAN
After giving this some thought, you can move on to the next step, which is creating a business strategy that covers the near, intermediate, and far future. This strategy needs to be in place well before the transaction is finalized if you intend to use outside funding to ensure or grow your new business. Such assistance is available from specialized businesses like Gozo Direct.
An Examination of the Competition in GOZO
When you identify a place that might work, it's a good idea to research the competition in the Gozo hotel industry so you know what to expect from the market. This is done largely to ensure there is interest in the core of your offering, but it may also reveal a void that may be exploited.
Think about your revenue streams.
Prior to purchasing an already established hotel on Gozo, it is important to investigate the average daily fee, occupancy rate, and income split of similar hotels. If your industry experiences a slump in the future, having many secure cash streams to fall back on will help you weather the storm. Think on how each aspect of the company can be expanded and improved for greater success.
Finally, if you're contemplating the purchase of a hotel in Gozo or Malta, or letting a hotel or Bed & Breakfast in Gozo I'd suggest not rushing into it. Find the correct place, consult the relevant professionals, map out a detailed strategy, and aim for attainable outcomes.
Inquire with the staff at the Anthony Reed Hotels.
Checking out commercial real estate in Gozo