Occupancy rates are an important tool in measuring the value and ultimately the price of a given property. But unless there is a thorough investigation of both past performance and future capabilities, bed and breakfast occupancy rates can cause a problem in both directions.
There may not be a subject more contentious and, we believe, misrepresented in the Innkeeping industry than Bed and Breakfast owner financing. Inn sellers have been known to shudder at the very mention of this term, which to them signals an undesirable extension of their Innkeeping career.
Whenever we mention the word ‘restaurant’ while on the phone, there is a clicking sound followed by a dial tone. We are learning to use the phrase ‘food service’ instead of restaurant. This little piece is about the advantage of having an Inn with the capability of serving an evening meal.
Vail Resorts has recently continued its Vermont expansion with a purchase of Triple Peaks, the parent company that owns Okemo Mountain Resort in Ludlow. The $82 million deal also includes Crested Butte Mountain Resort in Colorado and Mountain Sunapee Resort in New Hampshire.
“Well, I was an Innkeeper in this crazy little town in Vermont. Nothing made sense in this place. I mean, the maid was an heiress, her husband talked in alliteration, the handyman kept missing the point of things. And there were these three woodsmen… But only one of them talked.” – Bob Newhart
We have been working with Inns for over 40 years now. We have seen many, many changes. One of the major ones was the role of food in the Inn presentation. Today, we hardly speak of full-service Inns, as my unscientific count suggests that about 90% of the properties that call themselves “Inns” or “B&B”sRead More