How do I keep my motel running well while it’s for sale?
Run it as if you were staying another ten years. Keep rates, review replies, housekeeping and repairs on schedule, keep marketing and staff in place, schedule buyer visits around guests, and update your monthly records so you can answer a buyer’s questions about recent results at any time.
Once a motel is listed, it is tempting to coast. Some owners trim marketing, hold off on repairs or let the housekeeping slip because the buyer will deal with it. That is when a sale gets harder. Buyers watch recent months closely, and a motel that looks tired during the sale has to explain itself.
Keep the guest experience steady
Hold your rates and your housekeeping standards, and keep replying to guest reviews. Fix small problems as they appear, such as a dead bulb or a sticking door. A buyer who stays a night or reads the latest reviews is judging the business as it is today, not as it was when you listed.
Do not cut what drives bookings
It is natural to save money before a sale, but cutting marketing or trimming staff can show up in the numbers the buyer is reading. Keep your listings fresh and your hours covered. If you plan changes, ask your accountant how they will look on your statements before you make them.
Handle buyer visits quietly
Guests come first. Book viewings for quiet times, avoid showing occupied rooms, and agree with your broker on who attends. Tell your team who is visiting. A visit that disturbs a guest can cost you a review, and reviews are hard to win back.
Keep the records current
Buyers and lenders will ask for updates while the sale moves ahead. Close your books monthly, keep occupancy and revenue reports ready and note anything unusual.
- Rates, reviews and housekeeping on schedule.
- Marketing and staffing kept in place.
- Visits booked around guests.
- Monthly records closed on time.
The groundwork before listing is covered in getting your motel ready to sell.
Related reading
15 pages on the same subject, grouped by topic.
Selling
- Expert answerHow do I get my motel ready to sell?
- Expert answerHow do I hand over my motel to a new owner?
- GuideSelling a hotel or motel in Canada
- GuideSelling a hotel in Canada
- Expert answerHow do I keep my event rental company’s phones answered while buyers visit?
- Expert answerHow do I keep clients informed while I sell my shredding business?
- Expert answerShould I keep publishing new articles while my content website is for sale?
- Expert answerCan I sell my motel without a broker?
Buying
- Expert answerHow do I check a hotel’s occupancy and room revenue records?
- Expert answerWhat motel costs might the seller’s statements not show?
- Expert answerWhat should I ask about the owner’s role before buying a motel?
- Expert answerHow do I check a motel’s rooms and building before buying?
- Expert answerHow do I renovate motel rooms without closing the motel?
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernment7 steps to increase your business’ value—before you sell it
- 02Business Development Bank of CanadaGovernmentHow to Find the Right Buyer for Your Business
- 03Business Development Bank of CanadaGovernmentWhat are financial statements?
- 04Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
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