Posted by Mark Shah on August 25, 2009 at 20:20:27:
IMHO before you buy a hotel/motel, I highly highly highly recommend that you work at a property first before you consider buying a hotel/motel. I don’t care what courses are in the marketplace. Save you $$$ because nothing will prepare you for the things you will run into on your property.
The other thing to keep in mind, hotel/motel is a BUSINESS 1st. and an investment property 2nd. People may disagree with me, but I would like to see their experience in operating a hospitality property. Other than Ray, who’s opinion is golden, I would not listen to what they have to say.
All big hoteliers that I know, they started working in a property 1st, then acquired a small property, and then worked their way into bigger properties, then acquired multiple properties.