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Bed & Breakfast / Short Term Rental Host Forum

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  1. R

    The Younger Generation

    Since I am still close to being one of the young B&B guests I would explain them being drawn to B&Bs is the dislike of chains and everything being the same. Since young people have grown up with Wal-marts, Applebees, and all the big companies dominating all areas of life we like when going on...
  2. R

    Last minute bookings? Two night stays?

    I live in Saint Paul so I am familiar with the area. If I was looking at staying at your place for one night or two I would want to have stuff to do that is the opposite direction of the cities for a two night stay. You may get guests that are out of state and go up to Twin Cities so then having...
  3. R

    Anyone Using Frette Sheets? Flat Sheets Only?

    The place that I am looking at purchasing currently uses Frette sheets. I stayed there a couple weeks ago and the sheets seemed nice. The place is not open right now so the maintance person/caretaker setup the beds. I don't remember the beds being wrinkled when we got there but it was after 18+...
  4. R

    Best Formula for Valuation?

    It is 10 rooms, 2 restaurants, 2 pools, and managers house. I am going to convert one of the restaurant and dinning areas into 4 or 5 rooms.
  5. R

    Best Formula for Valuation?

    However, it was losing money every year. It was a couple runing it for the owner and they got bonuses based on revenue not profit. The property can bring in good revenue it just needs to have good cost control. The area only has three months of slow time so if priced right and ran well revenue...
  6. R

    Best Formula for Valuation?

    The bank is most likely going to use value of land plus building replacement cost while factoring remaining usefull life. The property is not in an area where there is anything to use for comps. The property is commercial property not traditional B&B property. The business portion of the deal...
  7. R

    Best Formula for Valuation?

    Thanks for the link. I think I had looked at this at one time but was unable to find it again. I have used some of these already but not all of them. The one valuation method I find useless is the per room value. It seems worthless since rooms are going to have a big range on the rates that can...
  8. R

    Best Formula for Valuation?

    I know this topic is a little old. But I am hoping someone has something to add to this. I am looking at putting in an offer in the next week on a property and having problems setting a value of the property since comps are not available.
  9. R

    Rook217

    Email me back with your phone # and I will call you if you want.
  10. R

    Another considering purchasing an inn thread

    This is a good thing to mention since I am sure most people want to put their personal touch on things right away and spend alot of money on things they don't need to. I have no need to put a personal touch on whatever we decide to do just to make it feel like mine. The only changes I plan on...
  11. R

    Rook217

    Paradise I sent you an email.
  12. R

    Another considering purchasing an inn thread

    I think they are a scam company or something. This is based on basic internet research and gut feeling. I don't need to worry about this for while anyways.
  13. R

    Another considering purchasing an inn thread

    Has anyone had experience with eZee Technosys Pvt they offer eZee FrontDesk and eZee Burrp (POS)? I haven't gotten a quote or anything but prices shown on non-related websites show starting prices of $300 for PMS and $600 for POS plus equipment.
  14. R

    Another considering purchasing an inn thread

    I guess i have been using ADR and REVPAR some what incorrectly. But the most important thing is total revenue minus variable expenses minus fixed expenses. It seems like ADR and REVPAR are not as useful when using estimated numbers. I have been using the total rate of all rooms times occupany %...
  15. R

    Another considering purchasing an inn thread

    Great ideas agoodman. I have been using ADR in my estimates. REVPAR is a new formula name for me since it is hotel industry specific but revenue per available room is pretty easy to figure out. It is useful when having different rates but does it matter if you were to have the same rate for all...
  16. R

    Another considering purchasing an inn thread

    You are right I probably do not need one but if the price was right it would be nice to have. (less errors and easily do itemized bills) I assumed that being able to do room charges would be a convenience for guests and might result in more sales.
  17. R

    New TV

    Sometimes time is more important then cost. Amazon is probably the slowest. Newegg is always fast. Monoprice surprised me with how fast they were since shipping was cheap. I aways stock up on cables and other things I need since I know I or a friend will need them sooner or later.
  18. R

    Another considering purchasing an inn thread

    I don't believe anything the PO's give me other then their tax returns and even those I am skeptical. The culture down there does not have a problem with being creative with accounting or recording cash transactions. I am trying to set aside money for capital improvements or repairs in the...
  19. R

    Another considering purchasing an inn thread

    I sent you a private message (email?) let me know if you get it. I would really appreciate your viewpoint on things.
  20. R

    New TV

    The "Wiremold 12 Ft. Cordmate II Kit" that HD sells would probably be easy and look good.
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