How can I buy a hotel and personalize it? Where should I start?

I posted something similar earlier. I am trying to create a non-profit subsidized hotel for the homeless, abused women and runaway children. I have found out that buying a hotel is easier than building one from scratch.
I want it to have a card swipe system and everything. I need to know overhead costs and stuff

I posted something similar earlier. I am trying to create a non-profit subsidized hotel for the homeless, abused women and runaway children. I have found out that buying a hotel is easier than building one from scratch.
I want it to have a card swipe system and everything. I need to know overhead costs and stuff like that. I am a college student so I have no experience with things like this.

Where do I start? Please recommend and books or websites that can help me.

I would be grateful for any advice! Thanks!

Other answer:

Eboni:
Get a job at a hotel and work there for a couple of years. Then you will have an idea of what you are getting in to.

Learning about a swipe card system is the absolute LAST thing you need to consider.

michael:
Start with a simple business plan and financial projections to understand whether the business is viable.
John D:
That's a very pleasant and altruistic fantasy to have. The reality is millions of dollars and enough reputation to GET the subsidies, which come from government agencies. Keep at it, though.
Barkley:
Start by doing your own Research! That is if you have the capacity to read, comprehend and apply the knowledge to practical use.
tro:
you are going to have to have a lot of money, first to buy the hotel and then a the equipment you allude to will be in addition
but before you dive in you need to get your non profit status approved from IRS, there are three forms, each of them describes the type of non profit your organization would be, those are 1023, 1024 and 1026, you can see the description at www.irs.gov and request the one you fall into
anonimitie:
That's sweet and really naive of you. Start by seeing what it would take to get this hive of unwanteds zoned. Also learn what, "N.I.M.B.Y." stands for.
Brian Mcilwee:
Take the Hospitality Management classes. Then take the Real Estate Class. Then take the Accounting For a Non-Profit class. Get a job working for a property management company for 6 months to a year. It doesn't have to be full time but you have to be there enough to understand the particulars.

I think the above will give you all the information you need to get started.

Oh, you will need a minimum 20% down payment – but you will earn that while you work for the property management company.

Steven S:
Contact a few of the hotel chains and explain what you are doing. They may can steer you in the right direction.
David:
I'm not sure I was always really crap at monopoly.
Share

Leave a Reply

Your email address will not be published. Required fields are marked *