45th book of 2020: A mix of obvious and bad advice.
The author ran a hotel for 18 months and then wrote a book. With precious few numbers and astoundingly mundane anecdotes, this book could be written by somebody who had run a hotel for 18 days. Picking out some quotes at random should be sufficient to dissuade you from reading this book:
On how to manage a hotel: “Having a holiday or even time off will be nigh on impossible in the first couple of years”
On purchase price: “Your key concern should be whether your offer is within your means and at the same time will be attractive to sellers.”
On employees: “Making sure that your staff are paid on time is vital.”
Notes: Lender brokers are worth considering in the UK. Contract needs to include the furnishings not just the real estate. Book has a reasonable list of questions to ask the hotel owners.