Limited Service Hotel / Motel by Tom Markel
Hotels and motels are generally broken down into two main categories which are full-service and limited-service properties. Limited-service properties are free-standing properties that offer just the basic amenities such as daily room service, a continental breakfast, and possibly a fitness center or swimming pool. Most people generally differentiate a limited-service property from a full-service property by the fact that they do not have a restaurant. A full-service property offers a larger range of services such as retail shops, restaurants, ball rooms, and other facilities that are more useful for larger group gathering such as a meeting or wedding reception. A limited-service hotel or motel is growing in popularity amongst budget-conscious travelers, especially families as they are often cheaper than their full-service counterparts.
A limited-service property has significant appeal to people on vacation since they offer the winning combination of good rates and all the necessary services. These hotels/motels may be smaller and offer fewer amenities, but are not inconvenient to guests nor are the accommodations or service inferior in any way. In fact, they prove to be very convenient for travelers on road trips who want to rest for a day or two in a particular city or town. It is highly likely that they will not be too much time to go shopping or use facilities such as a spa, so you will not have to pay for these services but still get good rest every night. Full-service hotel or motels are a better choice for longer stays as it offers a wider range of services that a long term guest is more likely to use, such as room service, boutiques, spacious rooms, and spas.
The best thing about a limited-service property is their easy maintenance and cost-efficient build. There are good business ventures and have been growing in popularity within the hospitality industry. A few examples of a limited-service hotel are Hampton Inn, Days Inn, and La Quinta Inn. These hotels are generally independently owned by franchisees and are likely located in big cities. These limited-service properties have a large amount of competition and can also help develop a wider range of business connections. By getting involved in hotel management, you will be exposed to various companies while you develop your property and much more after it is established.
The categories and subcategories that hotels and motels fall under can get confusing. One little trait can make the hotel fall under a different category. To understand the types of hotels and motels and how the business is run properly, it is necessary to research. Researching the details of your interests will not only clarify the knowledge you seek but, also, other aspects of the hotel industry that you probably was not considering or may have forgotten about. There are also different benefits and repercussions for full-service and limited-service properties, so this is also something worth looking into as well. Becoming more aware will allow you to make smarter decisions as a high potential entrepreneur who is starting off on a new project.
The Digital Application Builder at iBank.com can give you a step-by-step guide to presenting all the information you'll need to get the best rates on commercial mortgage loans. All of your business's vital statistics will be stored in a secure online VAULT and then used to pre-populate hundreds of online loan applications. You can connect with hundreds of commercial mortgage lenders at the iBank.com online marketplace.
If you're ready to start a new business or expand on an already successful one, iBank.com can help you find the funding you need. Getting started is easy when you register at iBank.com.