Hotels Business

2 Hotels Business Success Stories [2024]

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Updated: October 8th, 2024

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

In this list, you'll find real-world hotels business success stories and very profitable examples of starting a hotels business that makes money.

1. Ancient Lore Village ($6M/year)

Tom Boyd, an experienced entrepreneur, came up with the idea for Boyd Hollow Resorts after witnessing intolerance and hatred during his son's campaign for governor. He decided to change the direction of his book and wrote about a place where people could live together in peace and happiness. To test this theory, he decided to build a village called Ancient Lore that would serve as a 5-star boutique resort and event center. The uniqueness of the village has garnered substantial press and early financial success, with over 200 inquiries for events before its official opening in January 2021. Boyd's goal is to build seven more villages over the next five years, with a projected combined income of $76 million.

How much money it makes: $6M/year
How much did it cost to start: $10M
How many people on the team: 3

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.

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2. SKNMUSE ($180K/year)

Ezinne Iroanya-Adeoye, the founder of SKNMUSE, came up with the idea for her beauty brand after experiencing the inconvenience of traveling with products that didn't meet her needs as a black woman. With a background in the beauty industry, she recognized the lack of representation and decided to create a brand that authentically catered to black women. Since launching with a pop-up event, the brand has seen significant growth, achieving a 169% increase in revenue and on track to hit its first 6 figure year.

How much money it makes: $180K/year
How much did it cost to start: $1K
How many people on the team: 3

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.

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Read by 3,813 founders