News

Why Buy a Motel?

Why do people keep coming back to motels?  Those who have been there before very often return after some time away.  There are many reasons for this and the benefits that motel ownership offer are what keep people coming back to the industry.  More than ever, current and former mot...

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Management in Demand

As with many professions demand for people to fill positions fluctuates with how the industry is performing.  A timely example, increased demand for fresh fruit and vegetables, combined with fewer overseas workers, means a higher demand for pickers and workers in the agriculture industry.&nb...

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Leave Some in the Tank

Whenever starting something new we always kick off with such gusto and enthusiasm.  Whether it is a new gym membership and we attend three times a week, eager and ready to go, until the enthusiasm drops off and that slows to two sessions, then to one, then we stop going altogether.  Unl...

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Contract Conditions – Due Diligence

Any genuine seller who has ever had a Contract of Sale collapse on them will tell you it is no fun, especially the closer to settlement it gets.  Therefore, minimising the risk of a contract being terminated by the Buyer is worth seeking professional advice on and doing whatever one can to p...

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In Uncertain Times

In uncertain times people look for security.  Whether that means where to park money, what to invest in or where do they want to live that will make them feel secure.  Secure in their personal wellbeing or secure in their financial position.   The reasons for the strong attractio...

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No Better Time Than Now - Part 2

As a quick look back on the previous issue, we considered that day to day operations engulf every business owner’s time.  When things are good, operating costs are not an issue.  However, when activity decreases, the opportunity to look closely at excessive operating costs and how...

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No Better Time Than Now - Part 1

Often business operators get caught up in the day to day running of their business with marketing, cost minimisation and other important matters get pushed aside under the belief that one is too busy.  It is common that only in tough times (such as now), that we stop for a minute and conside...

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Whatever Makes You Happy

What do people seeking and staying in accommodation want?  How can accommodation providers give that potential guest what they want and need, to satisfy their requirements?  Answering these questions forms the foundation for winning any new or existing business.  Gaining the bookin...

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Motel Leases - What is the Outlook?

Motel leases can be looked at in some ways as a mix of commercial, retail and residential leases all built into one all “accommodating” document. The challenges within the accommodation industry over recent months cannot be understated, and the same goes for many other industries also...

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Market Moves

At times the market is a slow moving beast, like a bus trying to complete a U turn.  Other times it moves faster than Usain Bolt in the 100m sprint.  Why is this?  Human sentiment is ultimately the answer.  But what affects human sentiment enough to change such huge things as ...

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Car Parks Available

This topic was originally looked at in back in 2013 when comparing it against 1995, and twenty-five years on from then the fundamentals remain relevant. All the way back to 1995 I was told about the “best motel in town” that ran at an occupancy rate in excess of 90%.  Being inex...

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Motel Sales - Enquiry to Inspection

The sale of any business is a process.  In this issue we consider a snapshot of a few parts in this process, including the initial enquiry, qualification of that enquiry and the physical property inspection.   Enquiry and Qualification   The initial enquiry for a motel business...

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Extending Motel Leases

Further to last month’s column “What is a Long Term Lease”, this issue we look at extending existing leases.  The extension of motel lease terms is such a hot topic that every week it comes up in discussion with people in the motel industry and those looking to enter. ...

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2020 Motel Market Wrap Up

Having been in the industry as an accommodation business broker for 25 years you experience all the ups and downs.  If you think you have seen it all, to that I say “this has been a new one for me!”   At the end of each year we take a look back at how things unfolded and w...

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