An extended-stay hotel is a short-term stay hotel. They are very popular because they offer a way for business travelers to save money on hotels while staying in cities that aren’t home to their offices. With a well-planned trip, you can easily find an extended-stay hotel and save a lot of money.
Most people think franchising is only for people already successful in their careers. They believe they must have millions of dollars in the bank to start a successful franchise. This is not true. It’s quite the opposite. You can begin a successful hotel franchise with literally just $1000.
Have you ever thought about starting a successful hotel franchise? Well, now is the time. As an entrepreneur, it’s important to have a solid business plan. We’ll talk about the steps necessary to create a successful hotel franchise.
There’s a reason that hotels, motels, or AirBnBs have a “do not disturb sign” on their door. People tend to be so focused on the day’s events that they forget to set boundaries between their daily life and nighttime hours. That means we sometimes end up with people in our hotel rooms at night when they shouldn’t be there.
What is the Extended Stay Hotel?
An extended-stay hotel is a small hotel chain that rents out rooms to visitors for a long period. The average stay in a room at an extended-stay hotel is around six months. These hotels are usually located in malls, airports, convention centers, and other areas where business travel is frequent. While most extended-stay hotels are family-owned, some large chains operate several locations throughout the country.
How does an extended-stay hotel work?
An extended-stay hotel is a hotel that offers a unique and flexible option for travelers looking to extend their stay. This can include hotels offering additional nights, weekly or even daily stays. Many travelers are booking their trips online with the rise of online travel sites. This has made staying longer at a hotel much more appealing.
To help travelers plan their trip, hotels are offering extended-stay options. These can be found at many price points, including cheap and mid-range hotels. However, it’s important to note that this is not a short-term decision; travelers are likely planning to stay for weeks, months, or even years.
Why should you consider an extended-stay hotel?
The average hotel guest stays for a mere 1.8 days. You can do better.
There are over 1.4 million hotels in the United States, and the number is growing every year.
The U.S. hotel industry is worth over $500 billion annually. If you have an idea for a hotel and are interested in starting a hotel franchise, then an extended-stay hotel is the perfect opportunity. Because it’s the fastest-growing segment of the hotel industry, extended-stay hotels are known to be profitable.
Choose the right location for your hotel.
The first step is to identify the type of location you want to buy. There are four types of sites, each with its advantages and disadvantages. The first is a traditional hotel. These are often called “conventional” hotels because they are located in tourist areas.
You will need to pay a premium for these properties because they are not in an area with mass appeal. The second type of location is a “destination hotel.” These are typically located in popular tourist destinations. They are priced lower than conventional hotels, but you won’t be able to make the same profit margin. The third type is bed and breakfast. These smaller properties offer accommodation to travelers who visit the local area. Because these properties are smaller, they are more expensive than conventional and destination hotels.
The fourth type is a self-contained apartment. These properties offer guests a unique experience, allowing them to live in the property. Guests have a fully equipped kitchen, living room, and bedroom. If you want to open a successful hotel franchise, its choosing the right location is important. It would help if you found an affordable place with potential.
Do not underestimate the competition.
Most people think franchising is only for people already successful in their current careers. They believe they must have millions of dollars in the bank to start a successful franchise. This is not true. It’s quite the opposite. You can begin a successful hotel franchise with literally just $1000.
If you have never started a business before, this may seem like a daunting task. After all, there is a lot of money and competition out there. Well, you may be surprised to learn that franchising is much easier than you might expect. You have to have the right people on your side. It is easier to start a franchising business than any other type of business because you don’t have to worry about inventory, payroll, advertising, etc.
Frequently Asked Questions
Q: How did you come up with your hotel idea?
A: I was living in LA and working as a personal stylist. I was at the airport going back home when I got a call from an old friend who was opening a boutique hotel in Atlanta called The Hotel on Ponce de Leon. He wanted me to stay on for a few months while the hotel was ready to open.
Q: What did you have to do to make your dream become a reality?
A: To start with, it was all about my creativity. I knew I wanted to make it fun and interactive for people. We created lots of different events that were themed around travel and fashion. We had parties for couples or singles, and we did movie nights where we watched movies and took part in the discussion.
Top 3 Myths About
1. I want to have a successful extended stay hotel.
2. You need a lot of money to open an extended-stay hotel.
3. This is how I can create this successful extended-stay hotel.
It’s pretty simple. You start by choosing a few keywords that people might type into Google to find the information you have to offer. Then you set up an ad campaign to promote your business. You are choosing a domain name that’s easy to remember, optimizing your site to rank higher in search engines, and setting up a landing page that converts visitors into buyers.