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I have been in the hotel business for over 22 years. I would like to own my own hotel.

I know how to run a hotel, I just don't know anything about owning a business. I have been trying to get my credit score higher. It's only up to about 600. I have no extra money except a few hundred dollars. Is it even possible for me to somehow actually buy a hotel? It's only
$200,000 and has great potential. What do you think?

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scorpio611 · 41-45, M

Yes you can. I have been running a travel company and a retail store since 2013.

samueltyler2 · 80-89, M

Too risky. Perhaps start as a BNB and grow?

swandfriends · 41-45, F

A bnb would be about the same kind of money. It's basically a small 25 room hotel in the middle of nowhere lol. And I want to run it similar to a bed and breakfast. I don't like the idea of a home setting, I want an actual hotel

samueltyler2 · 80-89, M

@swandfriends it seems as if you sort of have already decided. If so, hire a financial planner/manager and see if there is a plan that can work. I wouldn't jump for it now though, rentals are way down during covid.

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