Category: News

Hotels, guest houses and bed and breakfasts must take steps to protect themselves from the financial loss of no-shows and cancelled bookings. This is one of the most important issues to consider when it comes to hotel finance and starting a hospitality business. Continue reading “Working out your cancellation policy”

When you decide to open a bed and breakfast, it is important to make a clear decision about the kind of accommodation and services you want to offer before you make an application for finance. In the majority of cases, people book bed and breakfasts because they want value for money and a friendly and personalised experience. Being clear about exactly what you will offer to your guests helps you present a well structured proposal to lenders and enables you to prioritise the appropriate areas of your business, aiding organisation and efficiency. Continue reading “Boutique bed and breakfasts are big business”

The bed and breakfast sector attracts investors for all kinds of reasons and can offer many opportunities for them to meet their goals. Here are just a few of the possible reasons why people would choose to invest in and begin running a B&B. Continue reading “What motivates people to own a B&B?”

Social media is becoming more and more important to businesses of all kinds, particularly in the hospitality and accommodation sector. When you’re running a hotel or bed and breakfast, a large part of your business success will depend on the image you project, and social media can be a major part of this. Social media networks allow you to interact with customers, express the personality and ethos of your business, learn more about what guests want and expect from you, address any problems that may arise and limit damage from any negative reviews. Continue reading “Choosing a social media platform for your hotel or B&B”

When running any kind of business, it is crucial to keep a close eye on your financial incomings and outgoings. There will be many different financial matters to think about when you are running a bed and breakfast or hotel, and it can be difficult to keep track of everything on your own, particularly if you have a large business which employs several staff and includes elements such as a restaurant. For these reasons, it is always advisable to consider the service of a professional bookkeeper. Continue reading “A bookkeeper can be an invaluable part of your business”

When running a bed and breakfast or hotel, the food is one of the most important aspects to consider. Some owners run a relatively simple operation which just includes breakfast for guests, while others incorporate full restaurants into their businesses. Here are some tips for combining food with accommodation and making it a success. Continue reading “Making your hotel restaurant a success”

The last decade has seen much economic and financial upheaval around the world, but the tourism industry is a hardy business and consistently prevails. There are many factors that could impact negatively on travel and holidays, but the future of tourism remains bright as industry experts predict its continued growth and success. London and New York are currently experiencing record levels of demand, with a large proportion of tourists opting for stays in bed and breakfasts. Continue reading “Impress lenders with carefully planned proposals”

Statistics released by Smarta Business School show the bed and breakfast sector to be 28% larger than the low cost hotel sector, turning over £2 billion per year. As with many businesses, B&Bs suffered throughout the recession, but the UK tourism industry has now recovered and is one of the largest global sectors with approximately 180,000 businesses worldwide. If you are interested in running a bed and breakfast, or if you have made the decision and are researching your financing options, we can offer you professional advice and help you prepare high quality proposals for presentation to lenders. Continue reading “The importance of establishing B&B purchase feasibility”