At all of our Aspiring Innkeeper Seminars and Workshops, most attendees have viability as a relevant part of the profile of the Inn they are looking to purchase, especially if their intention is to leave the security of corporate paychecks. The location of that candidate inn usually determines the strength of its financial position.
But inns can exhibit viability (the business strength to pay all the bills…including the mortgage) having very different locations. Some are rural, some are urban…but they can have the same muscle a strong location affords, including:
- Close to population centers from which to draw guests
- A diversity of area attractions for the guests to enjoy
- Wow factor…and the room features and amenities those guests seek
Two inns that have recently come on market have VERY different locations and area attractions, but BOTH are strong financially. The Rosemont Inn, an urban inn in Utica, NY, is within walking distance of restaurants, city festivals and many other cultural activities, and is an easy drive to hiking, kayaking and the 6 million acres of the Adirondack Park. With less volatility of occupancy throughout the year due to the diversity of its area attractions, this inn boasts strong mid-week and year-round revenues ideal for the aspiring innkeeper favoring such a schedule.
Castle in the Country B&B, a ten room beauty, is quite different in that it has a fully rural location (including 65 acres of unspoiled nature!) on the edge of a lovely pond that offers its own additional opportunities for adventure and relaxation. The diverse nature of its area attractions include such adventures as boating tours on nearby Lake Michigan, wineries and many other small-town adventures. But the inn also enjoys a perfect location almost exactly in between Chicago and Detroit – both major sources of guests..
Both inns have very different environments attracting a very different guest list…but near population centers, diverse area attractions, and positioned to be attractive to the travelers visiting those attractions…the very requirements for viability…and offering options of lifestyle interests from which an aspiring innkeeper can choose and enjoy.
