Hotels are one of the most profitable properties to flip. You can sell rooms nightly for a huge ROI, and fix them up fairly easily.
The hardest part of flipping a hotel is not the physical labor or cost, it’s often turning around the negative reviews that the property has previous had.
It’s extremely important to rebrand these properties, and disassociate them entirely with their previous counterparts.
The best way to do this is to remove any social profiles, create a new business, and verify it in “Google My Business”. Managing the reputation of your new investment is the most important step.
When flipping hotels we often look for those that were closed due to bad reviews, bad management, or something that isn’t permanent such as mold, etc.. These are the quickest wins, as all it takes is a good management team to start making a nice ROI.
Oftentimes we will even buy hotels that are not closed down. We simple buy existing hotels and rebrand and reinvigorate them. By doing this you can install your own competent crew and charge a higher rate. This is especially lucrative in busy areas such as near airports, parks, tourist locations, etc..