How do I hand over my motel to a new owner?
Hand over the motel as a working operation: list forward bookings and deposits, move booking-site and channel-manager accounts, give access to the property-management system, write down housekeeping and maintenance routines, settle keys and room status on handover day, and introduce repeat guests and corporate accounts.
Guests arrive, rooms turn over and someone has to answer the phone on the day ownership changes, so plan who covers each task, from the front desk and housekeeping to the booking system and the phone line. Start preparing as soon as terms are agreed.
Bookings and deposits
Produce a clear list of future reservations with dates, rates agreed and any deposits held. Work out with your lawyer and accountant how deposits and prepaid stays will be treated at closing. Tell the buyer about group bookings and any promises made to regular guests, so nothing surprises them.
Accounts and systems
Make a list of the booking sites, channel manager, payment processor, phone and internet providers and the property-management system. For each, note who holds the login and how the account will move to the buyer. Plan the switch for a quiet hour, and test that new bookings still arrive afterwards.
Rooms, routines and people
Write down housekeeping and maintenance routines, the supplier list and any rooms with known issues. Agree how keys and room status will be handed over on the day. Introduce the buyer to the housekeeping and front-desk staff and to repeat guests and corporate accounts. The hotel and motel buyer checklist shows what the buyer will be asking.
Stay available for a while
Offer to be reachable for the first busy stretch, and agree it in writing so both of you know what you are committing to.
Related reading
15 pages on the same subject, grouped by topic.
Selling
Valuation
Legal
Buying
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 02Canadian Federation of Independent BusinessResearch dataSuccession Tsunami: Preparing for a decade of small business transitions
- 03Canada Revenue AgencyGovernmentBuying a business
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