Should you find yourself swamped by the financial obligations of your business, one potential option is to refinance. This can help you to attain a more favourable deal with your mortgage and financial commitments and relieve the pressures on your company. As specialists in bed and breakfast finance and mortgages, we can help you to refinance your business and secure a brand new deal that you will, hopefully, find a lot easier to manage. Continue reading “Refinancing your business and why it may be advantageous”
Author: Carol Jones
Buying a Hotel – 10 Points to Remember!
- The average size UK hotel is in the region of 16 rooms; London has by far the most rooms but by no means the most hotels
- Just over half of the total number of hotels in the UK remain in independent hands
- The growth of branded hotels, and the development of franchising is setting the pace for the rest of the industry to follow
- The growth of branded hotels is a real threat to the independent sector
- The market for short (1-3 nights) holidays is bigger than that of the long holidays
- London attracts over half of all overseas visitor spend but the South West attracts the biggest domestic visitor spend
- Outside London, the domestic leisure and business market is critical to the success of any hotel
- Clearly define your market sectors and focus on developing them
- People are now booking more and more on-line and are hugely influenced by social media
- the independent hotelier’s USP is his/her personality and personal attention to hotel guests and its activities
Source: How to Buy and Manage Your Own Hotel (ISBN: 978-1-910158-22-7)
Are you thinking of getting into the B&B industry?
The UK has a thriving tourism sector and welcomes millions of visitors every year from all over the world. As a result, the accommodation industry is very large and diverse, encompassing bed and breakfasts, budget hotels, hostels, luxury hotels and many other options. There are accommodations to suit all kinds of requirements in terms of price, facilities and location. Continue reading “Are you thinking of getting into the B&B industry?”
Finding specialist lending for the hospitality, leisure and care sectors
Business owners may find that they need extra money for a variety of reasons. They may be in the process of purchasing another business to expand their empire, they may require a new premises for relocation, or they may need to pay off bills. Whatever the reason, when a business needs extra funding, it needs to borrow that money from a source that it can trust. At Stewart Hindley, we assist our clients with hotel finance, bed and breakfast mortgages and many other financial topics, finding the right lenders and helping to provide them with that much needed injection of additional cash. Continue reading “Finding specialist lending for the hospitality, leisure and care sectors”
Supporting you through business setup and beyond
Once you achieve your goal of setting up a hospitality establishment, it is important to acquire high quality and trusted accountants. We offer specialised accountancy services to help our clients every step of the way, providing professional financial forecasting and supporting them with every aspect of their finances. Continue reading “Supporting you through business setup and beyond”
Thinking of buying a Hotel?
So you think you want to own a hotel, where do you start? Initially you need to decide what type of hotel you want. Should it be located in the countryside or within a town? You need to be able to be interested in and connect with your surroundings, there is no point in buying a hotel that is located in an area where water sports (for example) are the main interest of the clientele if you have no interest in or knowledge of what people enjoy about the sports and local area.
Before you take the plunge – Ten Points to Consider
- Never forget a hotel is a very public place – it’s not like running a large home
- Remember – you are on your own – any help you need has to be brought (and bought) in
- Decide, first, on the type of business you want
- Decide on the location
- Confirm why you want to buy a hotel
- Remember, a hotel imposes great restrictions on your domestic and family life
- Obtain some experience by working in a hotel for a while
- Decide who will be in control – you alone, your partner, your partners?
- Understand the basic economics of managing a hotel before you begin your search
- The search for your dream hotel is likely to be long and frustrating
(Source: How to Buy & Manage Your Own Hotel – ISBN: 978-1-910158-22-7)
Fund your dreams of owning your own business
Many people dream of opening their own business, and many have their hearts and imaginations captured by the thought of running a bed and breakfast or guest house. Many people choose to pursue this upon or following their retirement, so they can dedicate themselves fully to the day to day running of the business. However, in order to achieve this dream, additional funding is often required. We can help to secure that funding in the form of a mortgage. Continue reading “Fund your dreams of owning your own business”
Securing finance for new bed and breakfast businesses
The bed and breakfast is a big part of UK culture. Many people love nothing more than a short, relaxing stay in a warm and welcoming environment. Bed and breakfast establishments tend to feel a little more homely than large scale hotels; more often than not the owners reside in the property, and guests like the sense of being welcomed into their personal home. Continue reading “Securing finance for new bed and breakfast businesses”
Keeping payroll up to date and accurate
When running a business, one of the most important tasks to consider is the payroll. Every business will have a form of payroll in place, regardless of how large or small the company. The work will involve keeping a full record of payments made to employees, ensuring that all records are completely accurate and up to date. This protects both the employee and the employer from the risk of misunderstandings, missed payments and potential legal issues, so it is an extremely important element of running any business. Continue reading “Keeping payroll up to date and accurate”
Starting your B&B off on the right foot
Many people are drawn to explore their potential to own and run their very own bed and breakfast. Often, money is the main barrier standing in the way of achieving this goal, particularly for those who have identified an existing B&B business for sale on the market. For many banks and financial institutions, their terms, conditions and repayment expectations are offered as a universal across all business sectors. This approach tends to make bed and breakfast funding seem not at all viable, as seasonal flexibility is required in repayments. This is the point at which our services can help you with your acquisition of a bed and breakfast business. Continue reading “Starting your B&B off on the right foot”
