Buying An Inn - A Life Decision

The description of a hospitality business means many things to different people. It incorporates fast food restaurants, regional and national chain restaurants, and of course "mom & pop" operations. It also describes lodging facilities as diverse as national chain hotels, ski lodges, motels, resorts, county inns and bed & breakfasts.

While all of the above facilities are found in Vermont, some of the most sought after and romanticized properties are country inns and B&B's. There are many factors that keep the inn brokerage business alive and well. Thanks goes to the Bob Newhart Show, the large number of tourists that visit Vermont who dream of living here, the downsizing of corporate America and the thriving economy and low interest rates.

What makes the country inn or B&B acquisition unique is that it incorporates three very important yet distinct aspects of an innkeepers life.

A New Lifestyle:

First, it creates a new life style for the innkeepers and their family.

The Business:

The ability to find the right lifestyle and the right home is only successful if the inn will support the cash flow needs of the purchaser including operating expenses, living expenses, mortgage/debt service and a net operating income.

Finding the Right Property: The search process can be varying length but generally lasts between 6 months and a year once a primary residence has been sold (if necessary).

Purchasing the Right Property: After identifying potential properties, it is important for the buyers to begin assembling their "team" to assist in the purchase of the inn or B&B.

While any real estate transaction can be challenging, the sale of the inn or B&B which provides the successful new innkeeper a home, a lifestyle and a business simultaneously is unique. The sale of these properties and their owner's desire to enhance the guest's experience either through improved services, upgraded facilities or increased capacity only serves to improve the nature of tourism and the economy of the State.

Hospitality business brokerage