Last updated on 19 Jan 2023
The biggest sign of a good hotelier is the ability to spot your mistakes, correct quickly and not repeat them. These are some of the most common mistakes made by new hoteliers:
Just Because You Exist, Doesn't Mean They Will Come
Just because you've built the hotel — don't expect guests to turn up. Especially if you have a restaurant — throw a party for the launch. Make sure you do a Press Release. Word of mouth is great and getting the city to talk about you is very important.
You Didn't Do Your Math Homework
Your costs should work out. Make sure you're selling a room at a price that generates profits and your food cost should never be higher than 20–35%.
Not Enough Cooks in the Kitchen
A guest has to be looked after from the word 'go'. Staffing well is extremely important, especially at the beginning of a new venture.
You Don't Have Systems in Place
Got your booking engine in order? Do you have a channel manager? Does your staff know how to give the chefs KOTs (Kitchen Order Tickets)?
You're an Absentee Owner
Initially, you cannot allow another person to run a hotel or even a restaurant for you while you sit relaxed and gain profits out of it. Being present is very important for a hotelier. A first-time hotelier could take 2–3 years to get used to their first project and then possibly add a second hotel to their portfolio.
Online Presence
Get a website. Enlist yourself on Online Travel Agencies (e.g., Agoda, Expedia, MakeMyTrip, Booking.com). Register yourself as a business on Google Maps.
Hope you liked our list of common mistakes made by new hoteliers!
