All Topics / Creative Investing / Short Term Accommodation Info Wanted

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  • Profile photo of roslynnchalwell@yahoo.com[email protected]
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    @roslynnchalwell-yahoo.com
    Join Date: 2003
    Post Count: 67

    Hi

    I am currently looking at setting up units for short stay accommodation.  This is all new and I am interested in information from anyone who is doing this or has done it in the past.

    I am doing my research in the area of interest because I have heard from the locals that good quality short stay's are scarce.

    Any advice would be greatly appreciated.

    Thanks in advance 

    Ros 

    Profile photo of js2js2
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    @js2
    Join Date: 2003
    Post Count: 758

    So this is kind of like fully serviced appartments is it?

    Have you went around to seek what is available in your own research. And what have you discovered as far as what's vaccant and what's not and what is the quality of what's curently available?

    Hearing what locals say is fine but I would be doing my own 'realistic' research, before spending a lot of money setting up the accomodation.  Maybe call taurist information centres away from the township itself that might be refering people to it. Or travel agentcies might know more direction about the needs or might give leads to go on.

    Profile photo of roslynnchalwell@yahoo.com[email protected]
    Member
    @roslynnchalwell-yahoo.com
    Join Date: 2003
    Post Count: 67

    Hi Daniel

    I have found that you cannot beat 'local knowledge'.  They live there and know exactly what is going on.  Most of the people I have talked to are business owners or are managers of a business from blue collar to white collar workers.

    I have talked to REA's and talked to people who currently have short stay accommodation.  There is a few houses dedicated to holiday stays but I am not interested in that as they are already catered for.

    Driving thru the town I noticed that all of the motels had 'no vacancies' signs out.  I am currently fact finding at the moment and talking to a principal of a Real Estate Agency who has been living in the town for years to see if we can do a deal.  He seems to think that there is a big hole in the short stay accommodation options for local businesses.  So my focus currently is on that. 

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