If you are wondering what kind of business to open in Spain, we can say with confidence that real estate is an interesting occupation. Especially if this property brings a good income. In this article, we will talk about a separate type of business in Spain, namely, opening your own mini-hotel.
Is it profitable to open a hotel in Spain?
If we talk about real estate investments that bring a constant income, then the hotel business is a great option. However, large one-time investments are not always necessary. It is possible to buy the whole building gradually, apartment by apartment. But the profitability of such projects is up to 15% per annum if you approach the matter correctly.
Which format to choose?
Let’s decide right away: we will not talk about opening a large hotel or a luxury hotel. We are talking about a small institution that can meet the needs of a simple tourist. We will only touch on the issues of service and marketing briefly since they are too extensive for a small article.
First, let’s look at what forms of such business exist and what their differences are.
The most economical option for both the owner and guests. It reminds everyone of a well-known hostel. Rooms are not rented, but beds, which can be quite a lot in a room. There are quite a lot of such establishments in Europe, not everyone can afford to stay in hotels when traveling, and many only need a bed for the night.
Capsule hotel is a completely new and original form of hotel business, which is the ancestor of the Japanese. Now, this direction is rapidly developing all over the world. Most capsule hotels are located near major train stations and airports.
Usually, this is a family business, and instead of a fashionable restaurant, the owners often offer guests to dine at home or a small cafe-bar organized in the house.
This is a hotel where each room is a separate apartment (apartment). There can be one, two or more bedrooms, a living room, a kitchen (often combined with a living room), a bathroom, and household appliances: TV, refrigerator, dishwasher, washing machine, and so on. In short, a separate comfortable living space combined with hotel service.
There are several other formats, but they all differ mainly in the subject (ski, SPA, eco), the number of rooms, the level of comfort, service, and so on.
Where to open your own mini-hotel in Spain?
The location of your business is the key to its success. So think three times before you make a final decision.
To begin with, the hotel must be located in a tourist area. Try to stay as close to the coast or in the city center as possible. According to experience, in the historical center of the city, the occupancy rate is year-round. If this is not possible, then look for a place close to attractions, parks, and places of interest to tourists. Pay close attention to transport accessibility.