Inn Brokerage Blog
What about Financing Metrics?Cap Rates, GRM, DCR, RevPar, ADR, COC, oh my!
So many financial terms….do you understand what you’re looking at? Your first step, other than working with me as your investment specialist, is to understand the metrics. GRM: GROSS REVENUE MULTIPLIER DCR: DEBT COVERAGE RATIO 8 CAP: 8% CAP RATE COC: CASH ON CASH ADR: AVERAGE DAILY RATE RevPAR: REVENUE PER AVAILABLE ROOM OCCUPANCY (ANNUALIZED
Maine Tourism Association reveals a new logo!
The Maine Tourism Association just announced: In recognition of Maine Tourism Association’s 100th year, the association has unveiled a new logo to be used in 2022. The logo is a version of MTA’s new primary logo unveiled last fall. The centennial logo acknowledges the milestone with the zeros in the “100” overlapping to create a pinecone
How Did Covid Affect Hospitality Brokerage and Tourism?
This image is just a partial compilation of our 2021 hospitality sales. Our team was on fire and so were buyers! This is Maine, can you blame them for wanting to buy a hospitality business here? We can’t either! Covid caused people from more populated areas to want to move to Maine, with more open
The Lending Climate for Lodging/Hospitality Properties During Covid – Updated
Back in October of 2020, I provided an update on the lending climate during the pandemic. There are no shortage of inn buyers or sellers these days. It’s almost as if the pandemic has placed an opportunity to hit the reset button, giving many a reality check of what’s important. But are the banks lending?
A frequently asked question: how do I qualify?
As a home buyer, you understand what it means to qualify for a home loan, your salary has to cover your current debt and a new house mortgage. The bank wants you to be within a certain debt to income ratio. Pretty simple. With buying a lodging/hospitality property, if you are leaving your job, how
Is it almost December? WHERE has the time gone?
Wow, this is long overdue, it was August when I last posted on my blog… It’s certainly not that there isn’t anything to talk about! It’s just time. You know, that precious thing we don’t ever have enough of. So what’s been happening? SALES AND NEW LISTINGS! The Spouter Inn in Lincolnville was just listed.
So much has been happening!
Growing pains are a good problem to have. It’s time I brought someone on to help me. Allow me to introduce Diane Pace. Diane is the former owner of The Lighthouse Inn, York Beach and current owner of West End Inn in Portland. I met Diane when I listed her inn in 2018. I then
UNIQUE SELLING PROPOSITION: What is your USP?
What makes your inn unique? What makes your inn memorable? What makes your inn marketable? A strong USP. Your Unique Selling Proposition. Any time I speak about the Norumbega Inn in Camden, inevitably the response is “OH, the castle, I know that one!”. Norumbega is an architectural wonder! I personally know from my inn ownership, how important
NEW LISTINGS, NEW LISTINGS, NEW LISTINGS!!
It’s been a busy summer into fall this year! New listings came on board (not driven by the pandemic, just coincidental): Hartstone Inn and Hideaway, Lodging and Fine Dining in Camden, a confidential catering company in mid-coast, Oxford House Inn and Restaurant in Fryeburg, Captain Swift Inn in Camden, 76 Pleasant Street Restaurant in
The Lending Climate for Hospitality During a Pandemic…
There are no shortage of inn buyers or sellers these days. It’s almost as if the pandemic has placed an opportunity to hit the reset button, giving many a reality check of what’s important. But are the banks lending? That’s the question on everyone’s mind. I closed one inn in February this year. Then Covid
ZOOM Aspiring Innkeeper Workshop Schedule is Posted
ZOOM ASPIRING INNKEEPER WORKSHOP SCHEDULE DATES October 3 & 4 10a-1p each day November 7 & 8 10a-1p each day November 28 & 29 10a-1:30p each day ____________________________ The Maine Inn Team launched our Aspiring Innkeeper Workshops for 2020 and then Covid Hit. Like so many businesses, we are looking for ways to adapt
Using your 401k to fund your inn acquisition
While these are uncertain and unprecedented, times, there does seem to be a silver lining for those who have the benefit of being able to take this time to reassess their long-term goals. A recent look at Google Analytics suggests that a number of people are doing just that. The past week looks to be
New Gorgeous Waterfront Listing across from Acadia National Park!
Acadia Bay Inn sits on the ocean across Frenchman Bay looking directly at the mountains of Acadia National Park. The view and property are stunning. The inn offers 7 very spacious guest rooms, 4 with ocean views and decks, all with lovely, renovated private ensuite baths. The inn’s parlor is the epitome of a
Aspiring Innkeeper Workshop Schedule, Maine 2020
Introducing our 2020 Schedule for Maine Aspiring Innkeepers Buying or selling an inn can be a relatively long process. We don’t just take part in a quick transaction, we establish relationships. The sale is not our goal. Your success is our goal. And our relationship doesn’t end at the closing table. We are fully immersed
New Innkeeper Workshops for Maine Aspiring and Current Innkeepers
The Maine Inn Team is pleased to launch our Innkeeper Workshops with two offerings to choose from: Two Day Weekend Workshop for Prospective Innkeepers; or One Day In-Depth Workshop for Future Sellers. As former innkeepers, one of the most often asked questions from guests is: “I have always considered owning a bed and breakfast. How did you
