Bill and Heide have recently traveled to several fine Inns to undertake Evaluations. While there is only one additional letter, Evaluations are very different from Valuations of which we also do many. A Valuation establishes a value of the Inn based on a comprehensive review of six factors affecting the worth of the property.
An Evaluation is a critique of all aspects of an Inn’s operations: marketing, staffing, housekeeping, food service, guest relations, website and web presence, grounds maintenance, and overall condition of the Inn. It also includes suggestions for improvements as necessary and focuses especially on items to improve the bottom line.
Some Inns, especially those contemplating a transfer, should think about a Valuation. We do believe most Inns will benefit financially and otherwise is excess of the modest cost of an Evaluation. Most Innkeepers are too busy running their Inns to pay much attention to events and changes in the larger hospitality business. That is our job and we bring that knowledge to an Evaluation.
If you would like more details, contact Bill at bill@innpartners.com or 802.257.2360.
Tags: Bill Oates, Inn Valuations, Innkeeping, Marketing