If you were ever a fun of the monopoly game, then you probably understand the fun and power that comes with owning real estate property, and people having to pay you some money to use them. This concept may have stuck with you and got you thinking of actually investing in real estate, and not just as a game this time.
If you are wealthy enough, sure you can straight up franchise a hotel from one of the many concepts available in the hospitality sector, but you will also have to incur a lot of additional revenue such as in justifying your brand.
You can never go wrong with investing in a boutique hotel, considering the number of specialized treatments that customers are always looking for today, and you won't have to worry about branding tax. Boutique hotels can be a profitable start up business even for inexperienced owners.
The Condor hotel in Brooklyn New York is one such example of a successful hotel that you can have a look at. The owner took time and ensured they put this boutique hotel in a prime location where visitors can have access to all the unique spots and features in Brooklyn, all within a walking distance.
The condor hotel has been given a modernized touch, with the owner ensuring the clients get that extra personalized attention that they could only get at home. Its unique designs and detailing, sets it apart from chain hotels that are only meant to offer the customer a place to rest.
Some of the attractive offers that the condor hotel has been able to lure clients with include the following
The condor hotel is located in the Williamsburg neighborhood, which puts it in close proximity to all the attraction sites such as the Brooklyn bridge, Brooklyn museum, Brooklyn Navy Yard. Most of these sites are at a walking distance from the hotel.
The hotel close to a lot of transport means that includes the sub-way
The condor hotel offers its clients up to 20% discount on rooms depending on how early they book
Plush rooms that include luxury suits fit with kitchenettes
The hotel offers a secure parking space for only $25 per night
Stuff are always available to the clients and offer them personalized attention
By focusing on a specific target group, the condor has been able to ensure that it has at least an average booking on a bad night, allowing it to maintain an average daily rate (ADR) throughout the year.
A 2017 statistical report indicated that in Boutique hotels attracted a revenue of about $38,155 per available room, compared to $27,638 for the normal hotels. Thus with an average daily rate, the owner is always assured of good returns throughout the year.
By visiting their site, you can have a clear look at some of the attractive offers that the Condor hotel has and, only a personal visit will reveal to you the unique sceneries that it boarders around it.
According to an article by the Real Estate Weekly, boutique hotels are expected to soar to even greater heights and it will be wise for you as an investor to consider such a unique option.
