Hospitality Business

Hospitality Business Success Stories [2024]

Pat Walls

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Updated: October 10th, 2024

Ever considered the vibrant and diverse world of a hospitality business? Establishing a hospitality venture means providing accommodations, food, and services to travelers and locals alike.

This business idea revolves around creating memorable experiences—be it through a cozy bed-and-breakfast, a bustling restaurant, or a serene retreat. It demands a deep understanding of customer needs and a passion for service.

Why is it appealing? The hospitality sector is always evolving, offering numerous opportunities to innovate. As trends shift, new niches emerge, allowing you to carve out a unique space in the market.

Starting a hospitality business requires meticulous planning, a solid business model, and a commitment to exceptional service. If you're ready to invest time and energy into creating a welcoming environment, this could be a rewarding endeavor for you.

In this list, you'll find real-world hospitality business success stories and very profitable examples of starting a hospitality business that makes money.

1. Luxury Yacht Rental Dubai - Yacht Charter - Elite Rentals Dubai ($144M/year)

Kristan de Graaf leveraged his passion for luxury cars, tourism, and the sea to launch Elite Rentals Dubai with inherited money. By analyzing market gaps and investing $50 million, Kristan and his co-founder Julian now generate $12M per month from their fleet of over 50 yachts.

How much money it makes: $144M/year
How much did it cost to start: $1M
How many people on the team: 118

My Elite Rentals Business in Dubai Makes $12 Million/Mo

A luxury yacht rental business in Dubai generates $12M monthly by offering exclusive experiences with over 50 private yachts, charging between $2,000-$4,000 for 4-hour charters, and upselling additional amenities like supercars and bespoke services to VIP clients.

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2. Let’s Buy an Island ($300K/year)

Marshall Mayer, Gareth Johnson, and Jodie Joyce came up with the idea for Let's Buy an Island after a few drinks and a conversation about owning a private island. They reached out to friends and family, created a website, and convinced over 140 people to invest in their dream. They were able to buy an island in Belize and are now in the process of developing it into a boutique resort.

How much money it makes: $300K/year
How much did it cost to start: $500K
How many people on the team: 7

The First Crowdfunded Private Island: How We Convinced 140 People To Invest In Our Island [Belize]

A group of founding partners have crowdfunded enough money to purchase a private island in Belize, which will soon develop into a boutique resort and is expected to open in 2023, following a successful launch through social media and press releases.

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Read by 3,331 founders