Choosing a plot for building a hotel is one of the most important steps on the way to opening your own hotel. However, when choosing land, a number of nuances should be taken into account. The budget is fundamental: it is necessary to determine how much you will allocate for the construction of a hotel and for the purchase of a plot.
Among the nuances that you should rely on when choosing a land for a hotel:
- 1. Hotel category. So, when building hostels, it is better to choose a site on the outskirts of the city to reduce the cost of an overnight stay; if you want to welcome motorists, then the motel should be located along the main highways. For foreign and business guests, you should open a hotel in the central part of the city with a good transport interchange.
- 2. The level of perspective of the land. In the process of studying the site, it is necessary to find out whether there is groundwaters and whether they are deep, determine the composition of the water and the tendency of the soil to settle, etc.
- 3. Engineering. When you choose the land for a hotel, you should find out whether there are available utilities nearby to connect heating, gas and electricity to the building. If they are not nearby, it will cost you a lot. Typically, engineering costs are 30-50% of the construction cost.
- 4. Infrastructure. It is also necessary to explore what is nearby-shops, restaurants and other infrastructure. After all, they can also affect the convenience of guests and their assessment of your property.
- 5. Ecology. If you are planning to build a country hotel or recreation center, this nuance is one of the most important when choosing a building site, since it will be the determining factor for the success of the object. So, for example, the presence of a lake, river or forest nearby or as part of a complex can increase the attendance of the hotel.
- 6. The possibility of the entrance of special equipment. Also, when selecting land for a hotel, you should not forget that it will still need to be built, and this will require special equipment. So, it is necessary to analyze the possibility of access to the site, as well as whether it is located on a plain or on a hill, which will be taken into account during construction work.
- 7. Interchanges and road quality. When purchasing land for a hotel, it is necessary to determine all possible ways to it, as well as check the quality of the roads leading there.
- 8. Urban planning schemes. Sometimes it happens that the site may seem attractive in all prospects, but do not forget that the cities are rapidly expanding and new infrastructure objects appear on the former vacant lots. Therefore, you should study the urban development plans of the surrounding areas. It is unlikely that your hotel in the future will be profited by the presence of a factory nearby.
Summing up, we can highlight that the most successful location of the hotel can be: in the center or business part of the city; close to attractions; near transport points (airports, train stations, etc.); near the coastline; along the highway. However, it is important to take into account the category of the hotel, infrastructure, urban planning and environmental nuances of the area.
The choice of land is a kind of foundation that lays the further progress of the construction of the object and the functioning of the hotel. To make sure that the site is chosen correctly, we recommend contacting professionals who can facilitate this stage and protect the owner from subsequent financial risks.
More details at the link about investments in hotel real estate.
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