About The Book

How to Buy and Run a Small Hotel
Ken Parker

This book provides excellent advice on buying and running a hotel, covering topics such as writing a business proposal, raising capital and managing the start-up costs.

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Preface To The Fifth Edition

 



Running a small hotel or guest house is often seen as a glamorous occupation. From the outside, there seem to be so many advantages: being your own boss; not having to commute to work; enjoying an attractive lifestyle; living in an idyllic location. In fact, money for old rope.

Of course there are advantages, but, as with most things in life, there is more to running a hotel than meets the eye.

It is mainly for those who are seriously thinking of entering the business that I have written this book. However, since it deals with the subject comprehensively and includes the most recent legislation, it should also prove extremely valuable to those who are already hoteliers.

Because, almost uniquely, it is so important from everyone’s point of view that prospective hoteliers fully understand what is involved before committing themselves, I have devoted the whole of the first chapter to this aspect.

Then, drawing on personal experience, I will guide you through the complexities of becoming a hotelier, how to go about looking for a suitable property, financing and equipping it, and deciding what may be the best way for you to run it.

Since some of you may have decided to take advantage of a depressed market to buy a hotel at a bargain price, my tenth and last chapter addresses the subject of how to survive in a recession.

In addition, there are lists of the legislation affecting the industry and of some trade magazines, a brief explanation of terms used in the trade, a list of further reading and many useful addresses and telephone numbers. Please be aware that regulations do change and organisations often change their names along with contact numbers. As with all business ventures, professional advice should always be sought.

To make description easier, I have used ‘hotel’ to encompass all like establishments, including guest houses and those offering only bed and breakfast, and have intentionally used the indefinite article ‘a’ as opposed to the purist’s ‘an’.

I would like to thank ACAS, the British Hospitality Association, Bedfordshire and Luton Fire and Rescue Service, the Environmental Health, Health and Safety and Legal Services departments of Plymouth City Council, HM Revenue and Customs, Muriel Paice, Paul Angel of dotdot.media (Bournemouth), Alison Gandolfi of the Balincourt Hotel (Bournemouth) and Visit Britain for providing me with much useful information.

All prices, rates, tariffs, fees, etc, unless specifically dated, are quoted for illustration purposes only and should not be taken as an indication of current values.