Business Idea: Start A Hotels Business in 2024

Pat Walls

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Updated: October 2nd, 2024

Avg Monthly Revenue

$258K

Avg Startup Costs

$18.9K

Market Size

$83.1B

Avg Revenue

$258K/month

Avg Days To Build

325 days

Market Size

$83.1B

Avg Revenue

$258K/month

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?

On average, successful hotels businesses report $3.09M/year in revenue.

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

Starting A 5 Star Boutique Resort And Event Center Based On A Fiction Book Lore

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

I Created A $120K/Year Skincare Brand For Black Women Recommended By Beyoncé

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