If you’re looking to buy and run a hotel overseas, then there are definite advantages in buying an already established, reputable business.

1. The groundwork is already done.

One of the major bonuses with buying an established hotel is that the groundwork has already been done, so you don’t have the upheaval of buying a property and converting it into a hotel. Even if you want to make changes or do things your own way, it’s still not quite as major as starting a new business in a foreign country from scratch.

2. There should already be a customer base, which you can build on further.

Ideally, the existing owners should provide you with their customer database as part of the sale, which you can use as base for further expansion. Special offers and discounts for existing customers often work well and it’s always good if you can impress previous visitors into continuing to recommend your hotel.

3. The hotel should come with employees.

Not only is it handy not to have to find and recruit a whole load of employees for your business, but it’s also useful to initially have staff who know the ropes. As long as they’re committed to the job and aren’t averse to any changes you implement, it’s good to have workers ready and able.

4. There should already be existing suppliers.

If you’ve managed to negotiate a price for the hotel in which the existing owners hand over their list of current suppliers and existing contracts, you’ll at least be able to get the business up and running quickly. You may well want to change suppliers when the contracts run out, but it’s useful to have some already in place whilst you get to grips with your new business.

5. You can redecorate and refurbish at your own pace.

If you want to make changes gradually, and not affect the running of the hotel too much, it’s easier to redecorate and refurbish a few rooms at a time, than have to shut the whole hotel.  

The implications of buying any business shouldn’t be taken lightly, and it’s especially so when buying abroad. Any legal issues may be different in other countries and issues you took for granted in the UK, may be handled in a completely different way in other countries. So always research a foreign business purchase thoroughly, stay in a hotel before you buy it to suss it out and get relevant professional advice.

Hotels on the market

Here’s a taster of some foreign hotels on the market.

A 13 bedroom country hotel in the province of Seville, in Spain – £890,802 

A nine bedroom hotel in the Ronda area of Malaga in Spain – £1,982,875.

A three star boutique hotel and Italian restaurant in Lecce, Italy – £989,780.

A 15 bedroom hotel in a mystery location in France – £2,963,730.