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I'm thinking about selling my Hotels & Lodging business in the next 12-18 months. We're doing about $1.2M in revenue with 15-18% net margins. I have no idea where to start — broker vs. private sale, what multiple to expect, how to prep the business. Any advice from people who've been through it?
I'm currently using spreadsheets for everything and it's becoming unmanageable as we grow. Looking for recommendations on CRM, scheduling, invoicing, and operations management tools that work well for Hotels & Lodging. Budget is around $200-500/month.
After 5 years of slow growth, we made three changes that took us from $500K to $1M in 18 months: (1) Raised prices 20% and positioned as premium, (2) Implemented a referral program that pays $50 per new customer, (3) Added a recurring service plan that now makes up 40% of our revenue. The recurring revenue was the biggest game changer — predictable cash flow changed everything.
Our general liability and workers comp premiums went up 25% at renewal. We're paying almost $18K/year now for a Hotels & Lodging business with 8 employees. Feels excessive. Has anyone had luck shopping around or found a good broker who specializes in our industry?
Spent last quarter doing a deep dive into our expenses and found we were bleeding money in places I never expected. Renegotiated our lease (saved $800/month), switched to a cheaper payment processor (saved $200/month), eliminated 3 software subscriptions we barely used ($350/month), and restructured our scheduling to reduce overtime. Total savings: about $4K/month on a business doing $60K/month.
Got hit with a 1-star review on Google last week that's completely unfair. The customer is exaggerating and it's already affecting our calls. We had a 4.8 rating and now it dropped to 4.6. How do you all handle this? Respond publicly? Try to get it removed?
I've been in the Hotels & Lodging space for about 3 years now and feel like I'm hitting a wall with growth. Revenue is stuck around $40-50K/month and I can't seem to break through. Would love to hear what challenges others are dealing with and how you're tackling them.
I've heard everything from 5% to 15% of revenue for marketing. We're currently at about 3% and I know we need to increase it, but I want to make sure I'm spending it in the right places. What's your marketing budget and where does it go?
Between supply costs going up 20-30% and labor costs increasing, our margins are getting squeezed hard. We're a Hotels & Lodging business doing about $800K/year and I'm trying to figure out how to maintain profitability without losing customers. What's working for you all?
We've been trying to hire for 3 months and it's brutal. Posted on Indeed, ZipRecruiter, even offered referral bonuses. Getting applications but the quality is terrible. What's working for you all in terms of finding good people for Hotels & Lodging?
Been in Hotels & Lodging for over a decade and the industry has changed more in the last 2 years than the previous 8. Between AI, changing consumer behavior, and new regulations, I'm curious where everyone thinks things are headed. Are you optimistic or concerned about the next few years?
Just finished "The E-Myth Revisited" and it completely changed how I think about my Hotels & Lodging business. Also highly recommend "Profit First" for managing cash flow, "Traction" for building systems, and "Never Lose a Customer Again" for retention strategies. These four books have had more impact on my business than any course or seminar I've attended.
Started sending handwritten thank-you cards to every new customer with a $20 gift card for their next visit. Costs us about $25 per card total. Our repeat customer rate went from 35% to 58% in 6 months. The ROI is insane when you calculate lifetime customer value. Simple but nobody does it.
Created a spreadsheet template that tracks all the key metrics for a Hotels & Lodging business — revenue per service type, customer acquisition cost, employee productivity, monthly P&L, and cash flow projections. Been using it for 2 years and it's helped me make much better decisions. Happy to share the framework with anyone who wants it.
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