Bed and Breakfast for sale opportunities are rare finds that include real estate and homeland properties. These inns have been a tradition for lodging for many years while trends in the B&B industry are continually evolving. The tradition of having guests come into one's home dates to Colonial America during the 18th Century. At that time lodging was difficult to come by, thus the practice of staying at a stranger's home was more popular and convenient. Travelers were at the mercy of these strangers to take them in and provide a warm bed.
Later as the railroad came through the country, hotels sprung up and provided alternative lodging options. With the Great Depression, Guest Homes or bed and breakfast for sale locations became popular again. Having guests rent a room for limited amounts -- around $2.00 a night provided a benefit for both the homeowner and the traveler.
That transactional relationship is still flourishing today with these bed and breakfast for sale locations. Those in the market for bed and breakfast for sale locations like these appreciate the following:
- Ability to buy a home in a wonderful vacation area
- Ability to pay for your home through the proceeds of rental room nights
- Participating in the hospitality industry where visitors come from around the country and the globe
The industry experienced rapid growth in the '80s and '90s. With the advent of online booking through popular sites like Vacation Rental by Owner and HomeAway, it's easier than ever to fill up your room nights and operate a profitable location like these bed and breakfast for sale opportunities.
Rooms can now be leased due to elaborate websites with full detail color photos, reviews, online booking, and interactive video property tours.
The standards for a bed and breakfast for sale like these are covered in these key statistics published by PAII Industry Study Data. They report the national averages for occupancy, daily rate, and revenue as shown below.
- Occupancy Rate 43.7%
- Average Daily Rate $150
- Revenue per Available Room $58
All you must do is buy one of these many bed and breakfast for sale opportunities and start receiving guests. It's not unusual to see these not only cater to overnight guests with high-end amenities like high-speed internet, luxury spa service, free wine and hor ‘de oeuvres, valet parking, and baggage services. It's also an ideal opportunity to use the grounds of these bed and breakfast for sale opportunities to book wedding packages, business conference rooms, movie production, and guest rooms offering corporate rates with business travel accommodations.
The entire industry is worth an estimated $3.4 billion. There are an estimated 17,000 inns in the U.S. like these bed and breakfast for sale opportunities. That makes them a desirable location in amazing parts of the country for millions of travelers.
Who's buying a bed and breakfast for sale like the ones offered here? Industry data reveals the following about inn owners:
- 72% of inn owners are couples
- 18% are individual females
- 5% are individual males
- 5% are non-couple partnerships
- 79% of owners live on-premises
The industry does have several elements that can affect the business including:
- Economy -- the ups and downs of the economy along with energy costs
- Technology -- the strength of online reviews and ability to market online effects innkeepers
- Population - the aging population may require accommodations for travel
Statistics from this article found online at this link: Source: http://www.paii.com/About-the-Industry
Bed and Breakfast for Sale
If you are buying a restaurant with SBA lending, make sure you are ready to go with this checklist of items the bank will need.
Listing Id:9987 Lease Term:9 years Monthly Rent$3605, Sq.ft.2500,
Listing Id:9721 Lease Term:N/A Monthly Rent$n/a, Sq.ft.6404,
Financing a restaurant purchase is getting easier by the day - IF you know where to look. The days of saying “no” to all kinds of lending to buy a restaurant seems to be past us.