Hotels Business

Business Idea: Start A Hotels Business in 2024

Updated: October 2nd, 2024

Avg Monthly Revenue
$258K
Avg Startup Costs
$18.9K
Market Size
Avg Revenue
Avg Days To Build
325 days

If you are considering starting a hotel, then it is time to implement your plan. There are five key elements to understand if you want to succeed in this industry: location, size, budget, experience, and market demand.

Here are some tips to consider before forming a hotel:

  • Name your business
  • Decide on a marketing strategy
  • Start by renting out a room in your home.
  • Hire a business capital broker
  • Try Airbnb
  • Make a marketing plan
  • Offer complementary services

Revenue & Profitability

How much do hotels businesses make?

Startup Costs

How much does it cost to start a hotels business?

  • It can cost as low as $1,000 to start a hotels business.
  • It can cost as high as $10,000,000 to start a hotels business.

Learn more about the costs of a hotels business.

Examples Of Successful Hotels Businesses

Successful hotels business businesses and case studies

Boyd Hollow Resorts is launching a 5-star boutique resort and event center based on a fiction book that will be the first of many Villages to be built around the world, with over 200 event inquiries received before launching.

$500K Monthly Revenue
$10M Startup Costs
Read by 7,711 founders

SKNMUSE, a premium beauty brand dedicated to elevating the beauty experience for Black Women, has a 40% customer retention rate, achieved a 169% increase in revenue, and made $30,000 in Q1 alone.

$15K Monthly Revenue
$1K Startup Costs
Read by 3,802 founders

See full list of successful hotels businesses.