Boutique hotels became very popular during the 1980s, particularly in major cities such as London, New York and San Francisco. Take a quick look inside one, and it’s easy to understand their appeal, right across the board. Boutique hotels don’t just offer something different to travellers and holiday makers. They also offer a unique business opportunity for prospective owners as well. But be warned: like any business venture, setting up a boutique hotel requires a groundwork and perseverance. Here are some essentials to make note of:
Plan, Design, Imagine
Boutique hotels are renowned for their originality, style and chic décor. And what essentially separates them from your average run-of-the-mill hotel is their uniqueness. With this in mind, one of the single most important decisions you must make as owner is how you’ll find your own niche; your own exciting and quirky aesthetic. Unless you’re particularly artistic or have a bold vision for the look of your hotel, it’s very sensible to enlist the help of a professional interior designer throughout the planning stages. Admittedly, this could involve a sizeable amount of money at first. However, rest assured that – with the right guidance – your investment will pay dividends in the long run.
Be Practical
As well as determining a look or scheme for your hotel, there are countless other pragmatic duties you’ll need to attend to before you can open your doors to the public. Formulating a strong business plan is the first step, particularly if you are looking to bring other investors on board. Within this, you should be able to identify a strong demand for your business idea, and show how it will generate sufficient revenue. Naturally, you’ll also need to consider things like insurance. It’s a good idea to contact a renowned insurance company (UK Insurancenet or a similar firm is a good starting point), in order to get a sense of exactly what type of cover you’ll require for your new business. Essentially, getting all of these practical aspects out of the way early will ensure that the lead-up to opening day runs as smoothly as possible.
A Rapidly Growing Market
Boutique hotels are a niche market, but one that is rapidly growing in popularity all over the world. So should you be interested in starting your own, be sure that you first take into account all of the advice given here.