Is hotel business still lucrative?

[Augusta]

Yeah since the lock down was lifted. In my location it has been business as usual.but I Know visitors are still prompted to use their face mask but using the hotel is freely allowed. People can freely Lodge and from what I observed patronage isn't bad. So I will conclude that it isn't bad over here

 

[arunima25]

The hotel cannot be lucrative because you cannot oblige your clients to respect the distanciation add to wearing a mask add to use gel for disinfectation add to this PCR before 72 hours is not suffisant because client can be infected by Covid19 in airplaine or into the boat and then in receiption in airport then it can be positive but detection by security agents can be negative. If clients will apply laws of Covid19 the trip will be so boring that decrease potentially clients of hotel.

Those are the recent developments since the pandemic. We know that many businesses or rather majority of business have been effected by this pandemic. And hotel, resorts, tourism and travels are the worst hit ones. But we all hope that things will return back to normal again. It might be longer than we actually thought. But we have hopes. In current situation, many businesses including hotels are not lucrative.

 

[Lens1000]

Truely hotel is a lucrative business if things work well. Presently, in my home country I would not advice people to invest in the business because the cost of running an hotel here is quite high and it's very possible not to record a meaningful gain . Apart from this, location matters a lot . It's better to cite an hotel in a virgin area because the business is already saturated

 

[Deleted member 28127]

The hotel cannot be lucrative because you cannot oblige your clients to respect the distanciation add to wearing a mask add to use gel for disinfectation add to this PCR before 72 hours is not suffisant because client can be infected by Covid19 in airplaine or into the boat and then in receiption in airport then it can be positive but detection by security agents can be negative. If clients will apply laws of Covid19 the trip will be so boring that decrease potentially clients of hotel.

 

[btaliat]

There is no controversy on the profitability of hotel businesses. The only issue is the risk associated with having hotels. If these risks can be managed well, the profit will be much. So it is not really the business that will fetch the money but how well the risks associated with it can be managed.

 

[sincerem]

I live in a city and there are many hotels in here that are quite expensive. I believe that hotels in country side generate more revenue because there are many tourist spots in those parts of the country that attract a huge number of people. For example, there is a place called Murree in my country and it is full of hotels and it is a mountainous area. So I do think that constructing a hotel in those spots will make you more money.

Building a hotel on such on demand location you just outlined now, will get a hotel owner earning a lucrative revenue indeed. Those who establish in the rural areas that isn't packed with people don't earn enough cos the targeted people to patronize their establishment isn't living there. The city is the place place to gain heavily from hotel set up.

 

[Good-Guy]

You shouldn't be asking if hotels are lucrative/profitable anymore. Already we know how lucrative it is when it comes to driving passive income from it. Be it hotel you built in the rural areas or urban areas, it has the tendency to drive unending return of investment provided it is on a high level standard.

I live in a city and there are many hotels in here that are quite expensive. I believe that hotels in country side generate more revenue because there are many tourist spots in those parts of the country that attract a huge number of people. For example, there is a place called Murree in my country and it is full of hotels and it is a mountainous area. So I do think that constructing a hotel in those spots will make you more money.

 

[sincerem]

You shouldn't be asking if hotels are lucrative/profitable anymore. Already we know how lucrative it is when it comes to driving passive income from it. Be it hotel you built in the rural areas or urban areas, it has the tendency to drive unending return of investment provided it is on a high level standard.

 

[funmi]

Hotel business is still lucrative. As far as people move from one place to another. Hotel will definitely be needed in many areas for so many reasons. People go to hotel for relaxation, some travelers also stay in the hotel and so on. If your hotel has class, it is a very business. And also, if there is recreation places in your hotel it is another advantage.

 

[Godsplan]

Hotel business at my area is still very profitable especially if all managerial factors are taken into consideration in the running of the business. Location too matters most in this business.

 

[arunima25]

Hotel and travel businesses have been hard hit in recent times due to this pandemic. But as such, it is definitely a lucrative business if one has planned it well and executed it well. Before starting one, you need to study and do a bit of research. The location of a hotel is definitely the most important thing to decide it's success.

 

[Chibson]

Hotel business is undoubtedly a very lucrative business especially in urban areas. Location is very important for hotel business because if you don't have a good location nobody will probably come. Another thing you should watch out for his house secured the location in which you want to build the hotel is because a lot of people want a place that is very secured.