Innkeeping is a job, but most importantly, it's a lifestyle; one that provides a job, a home and an investment. That job entails cooking, entertaining, marketing, concierge, etc. and involve the personal innkeeper's passions. It's easy on the mind and there are few unresolved issues as there are in many jobs. Your days are filled with pleasantries, gratification and appreciation of your efforts to make your guests feel at home.
HOME
Innkeeping is about providing a home away from home for your guests. It's as much their home as it is yours when they are with you and conveying this message is paramount. You've created a warm and welcoming atmosphere for them. When your attention to detail shows, your guests feel it.
LIFESTYLE
The atmosphere you create for your guests has to start from within. You share your lifestyle with your guests and your love of the area and love of what you are doing enable your guests to unwind. You get away for a hike or a walk when time permits. You try a new restaurant in town when all guests have checked in for the day. Your experiences help guide your guests. They are on vacation to get away from the stress of their everyday lives and jobs and are seeking guidance and relaxation. Your act of being a provider and caretaker while hosting their stay makes your guests happy and in turn is very gratifying to you as an innkeeper; what goes around comes around. And innkeepers meet such interesting people and hear a lifetime of stories during their tenures as innkeepers.
JOB
An innkeeper's job is comprised of many different things: host, concierge, planner, coordinator, chef, cook, baker, dishwasher, bookkeeper, marketer, housekeeper, tourism and maintenance guru. And let's not forget the imperative people-reader. It's all busy work, more work for the body, less work for the mind. There's no desk full of endless unresolved issues; each day is finite. Of course you will experience an occasional blip, but not on a regular basis. It's much easier to enjoy each day when you experience less mental stress. And everything you are doing is being appreciated by your guests. The percentage of jobs dealing with happy people on vacation is probably a very small number. Innkeeping is full of smiles.
INVESTMENT
The investment aspect of your home is very important. It will either follow the real estate market or it will hold its own based on the business value you create. Sometimes the business value of your property will exceed the residential value which may not necessarily be affected by the volatility of the real estate market. Other times your business has not yet reached its potential and may be valued more for its residential value. And most often there are hybrid situations. There are many factors to give serious consideration to when looking to purchase a lodging property as an investment. Your personal expenses and needs change and you'll want to discuss this in detail with an accountant or your broker. Regardless of your expectations of ROI (return on investment), you hope to either grow the business or ride the real estate market upward to make a profit. And it can be done, you just have to select the property carefully based on your financial and personal needs.
