Owners Explain: How does the motel business work? Buying, operations, pros/cons, vs Airbnb

Рет қаралды 17,711

Күн бұрын

In the Owners Explain series, I explore different businesses and talk to owners to learn more. This video is a concise summary from the notes I took, and hopefully this helps you understand how a motel business works, what might be the reasons to look into it, what the operations look like and how a purchase can work, and ultimately give you a better sense of whether this is worth looking further into.
Links for Airbnb-related things:
My Airbnb Calculator (Free!) - lydiapatel.ck.page/f6c9cdd4f4
Airbnb hosting ($40 bonus, with me as your ambassador) - www.airbnb.com/r/lleung108
Hospitable ($30 credit): hospitable.com/?grsf=htt7vt
Pricelabs ($10 credit): pricelabs.co/users/sign_up?re...
Business $:
American Express Blue Cash ($500 cash bonus, 0% APR 12 months, and 2% cash back on spend) - americanexpress.com/en-us/ref...
Chase Ink Unlimited (cash bonus of $750, 0% APR 12 months, and 1.5% cash back on spend) - www.referyourchasecard.com/21...
Novo (fee free biz checking, awesome interface and app): novo.pxf.io/6ePnmE
My short term rentals playlist: • Tiny House Airbnb | Ho...
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All ideas, opinions, bad jokes are my own. Not sponsored content. Links above contain affiliates - which means I get a small commission for telling you about the product/service and feels like a little tip jar for me. This is at no cost to you, and independent of the opinions I've already formed on these products/services prior to making the video. :-)
#ownerexplains #hospitality #motel

Пікірлер: 45

@OHANA-Beach-Suites 8 ай бұрын

Hello, I am in Seattle, I work 2 full time Security Officer jobs, for several years, while slowly building our Beach Hotel in the Philippines, paycheck to paycheck all cash, no loans. 1 more year to go before opening! Dreams come true! Have a great weekend!

@lydiapatelll 8 ай бұрын

Have a lovely weekend as well

@OHANA-Beach-Suites 8 ай бұрын

@@lydiapatelll Thanks!

@MrRahshad 7 ай бұрын

I enjoyed your video and I'm considering the business as an independent building on my own land or leased land.

@OHANA-Beach-Suites 7 ай бұрын

@@MrRahshad Nice! Best of luck! We have updated videos in a few days! HAPPY NEW YEARS!

@ariisaadoraa4321 Жыл бұрын

🤗 This was great. I’m loving your content!

@aauriemma 4 ай бұрын

Love your explanation for a lot of things within the motel/ hotel business. Appreciate the content.

@Cricketlive2.0361 8 ай бұрын

She is patel no one can beat her😮

@kingmakandal 11 ай бұрын

Great video, thank you 👍🏽👍🏽👍🏽💯💯💯💯

@HanNguyen-hl7tp Жыл бұрын

You are so smart, Lydia! Thank you so much for sharing your knowledge with us :)

@lydiapatelll Жыл бұрын

😅 that is too sweet. Happy to share, I was going to ask them and learn anyway!

@augustoherrera 6 күн бұрын

I'm so happy I found your video ❤ is exactly what I was looking for. Thanks 🙏🏼

@lydiapatelll 6 күн бұрын

Glad this was what you needed! Thanks for watching

@shanpieee 9 ай бұрын

Nice video. Thanks!

@hoverkid225 11 ай бұрын

So informative! Thank you!

@lydiapatelll 11 ай бұрын

Thanks for watching!

@dcwshoreline5416 6 ай бұрын

This is a super interesting video! Thanks for explaining the motel industry

@lydiapatelll 6 ай бұрын

Thanks for watching!

@Dammmguddd023 2 ай бұрын

Patels own 70% of the hotels in US, Canada and Britian and a good chunk in Europe, they are one of the biggest business men in Africa in every African country and the funny thing is they all start from scratch. Really interesting group of people.

@maximilliandirnfeld2442 Жыл бұрын

thank you

@john55223 9 ай бұрын

3rd. Option for loans - seller financing. Owner of the motel can hold the note and buyer would make payments to seller.

@lydiapatelll 9 ай бұрын

Yes! Thanks for adding this

@TheHotelBroker 7 ай бұрын

Yes, I've actually sold hotels where the owner agreed to take a lower sales price because they wanted to do seller financing. That way, they'd have continued passive income cash flow without the work or risk, could delay their capital gains taxes and they knew the asset, so they felt secure as long as the down payment was sufficient. It can be a win-win for everyone and is especially attractive for older sellers that are ready for someone else to take over day-to-day operations. Good luck with whatever you do! @@lydiapatelll

@TheHotelBroker 7 ай бұрын

Very nicely done! I enjoyed watching this and you gave quite a bit of information. I sell hotels, mostly in South Florida and was impressed with you detail and analysis. .... I'll look forward to seeing more. #TheHotelBroker, Rick Tobin, Premier Hotel Realty

@inspirationabundance-bu4jy 5 ай бұрын

lovely

@BrandonDoyleMN Жыл бұрын

Interesting! I’ve worked at a few different hotel brands during and after college (both large franchises and boutique) while the franchise fees and renovation requirements may be high I think the brand reputation and systems outweigh the cost. I know when I travel I tend to book with the brands I’m familiar with. Motels often have an owner that is also the operator whereas the franchised hotels tend to have ownership groups, when you get into the larger hotels with additional amenities they each of their own departments and managers but everything is really tied back to occupancy and groups/events It was interesting working at a variety of hotels with completely different clientele and operating procedures

@lydiapatelll Жыл бұрын

Fascinating! Larger hotels seem much more complex for a beginner to get into. I agree with what you mention about brand reputation. And as a traveler i also factor in points and loyalty perks. :-)

@a.tigerjr.6132 8 ай бұрын

The seller of a motel just accepted and signed my offer. I am currently looking for financing and investors. My first offer was to do 50/50 partners with the owners and I would take over operations but they didn't like that option.

@silverpod 7 ай бұрын

Dumb question maybe but would it have been better to have the investors lined up before making an offer? What happens now if you can’t get funding in say, 6 months? Will the sellers keep waiting?

@user-fq3xw9xq2u 3 ай бұрын

GREAT VIDEO! Where do you find these hotels?

@Pajet.Awakened Жыл бұрын

🔥🔥

@Donnie_Khan 11 ай бұрын

Patel as a last name? Its funny, just was a video from Devonna Reves where she says, 50% of the hotels in the USA are owned by Indians. Good stuff, as they do work hard. So, yeah, your hubby maybe an indian as well. Off the topic, am looking to do the same but downunder in a few years, hemce am here getting pointers. 🎉

@lydiapatelll 11 ай бұрын

Haha good eye 😉 there’s some truth to the stereotype! Best of luck in the other hemisphere!

@kevinkasp 10 ай бұрын

I think the percentage of hotels & motels in the U.S. owned by Indians in 2023 is closer to 70% than 50%. And more than 75% of those Indians have the last name Patel. And 100% of them have come from the Indian state of Gujarat. It is truly mind blowing. The equivalent would be like some extended family or clan from Western Australia owning 70% of the hotels in Europe.

@himuakram2011 11 ай бұрын

I want to do hotel business. I want to buy a 70/80 rooms hotel. Looking to buy a hotel in North Carolina or Tennessee. How much should I invest?

@lydiapatelll 10 ай бұрын

not sure i can help, i am definitely still learning myself. talking to other hotel owners and/or looking at what's for sale in those markets would be where I would start in your position. best of luck!

@TheHotelBroker 7 ай бұрын

You can invest as much as you want ... or start off small. It depends on your capabilities and risk tolerance. A small roadside motel could be inexpensive, but may have maintenance issues. Exterior corridor properties are out of favor and will go cheaper ... but you'll sell an maybe rent cheaper too. There's a lot of factors. Loopnet and Crexi will have listings that you can look over. Talk to the owners and/or listing agents ... a lot, to learn more!