A lot of business men and women fly to a particular destination year in year out for holidays or even business purposes. Some lodge in a specific resort all the time – perhaps because they love the food, the atmosphere, room service or even the interior and exterior decor. Whatever your reason, imagine putting in all the expenses incurred into purchasing your own holiday resort. It will not only add extra value to your total sense of well being, but also more values to your bank account. A survey carried out by the London School of Economics showed that in the UK alone, holiday resort owners make over a billion pounds annually from customers.
Since more travelers and fun seekers are looking for self-catering accommodation that offers some sense of privacy and security, it’s only wise that you don’t remain a fun seeker yourself – become a fun maker instead. Think of a nice location you love, and ways to make it comfortable with the feel of a “home away from home”. Think of families who would want a perfect get-away for their kids and partner. Most people do not want to feel like they have to abide to certain rules as regards meal times, what to eat, when to go out or even the feeling of being in a hotel room. Therefore, put them into consideration and make some revenue from offering the comfort they seek.
In as much as every resort has laid down rules and regulations, you can make yours flexible enough to accommodate the things you would like for yourself and how holidaymakers would love their ideal resort to feel like. Without wasting much of your time, here are the reasons every investor should have their own holiday resort.
With news about inflation, deflation, recession, unstable stock exchange market, low interest rates and other financial crisis, investing in real estate seems like the ideal investment any business oriented person should consider. Regardless of the relatively low risk involved, property investment tends to bring high Return on Investment (ROI) when put into good use. The value of a house or piece of land can only increase with time. Therefore, it’s only wise you put in money into owning your own holiday property and rent it out at will.
Furthermore, owning a holiday resort means you’re paying tax for some high income. For example, if you spend 12 weeks cumulatively in your holiday resort, the remaining 40 weeks in the year can yield some very high ROI – especially during festive seasons. A resort in a popular location is likely to produce as much income over a 12 weeks period as a regular holiday home would pull in a year. So imagine 40 weeks! A report showed that with a total expenditure of about £6,000, a holiday property can bring a gross annual income per unit of more than £12,500 on the average. That’s over 100% profit every year! This means that with hard work and dedication, you can actually exceed this average.
However, making money from a resort isn’t as easy as just opening a retail store. You need to carry out some research on the right location and property. Infact, check out some old resorts that are probably not functioning anymore and purchase them at a giveaway price. Then refurbish it to suit your taste and install modern facilities that can boost the standard and bring you customers on a regular basis. You also have to keep in mind that Christmas, summer holidays and school breaks, are the best times to generate income because guests are willing to pay almost any amount to stay in your resort – especially if it’s in a sought-after destination.
Your own Holiday Expenses are taken care of
It’s your resort, so you can always spend time at a suite therein – whenever you please. The cost of renting another accommodation is also taken care of and so is the pressure of getting an ideal place when your choice spot or condo is rented out is reduced. However, you need to keep in mind that frequently staying in a particular cottage in your holiday resort means you are not making income from that particular property. Therefore, maximise it’s use. Rent it out especially during Christmas and summer holidays.
You are now the Boss of your own Luxury
As an investor, you will definitely look forward to the feeling of getting the right luxury and services you need, when and how you need them. If there are specific meals, sports, games, designs and attractions you enjoy at your choice resort, you can provide them at your own resort. During off peak periods when you feel like taking time off work, you can take a trip to your property with some family and friends to rest and have fun.
Furthermore, this resort might be paying your bills right now, but it’s also a good place to retire to and even give to your kids as inheritance later.
Benefit from Business Rentals
Companies and business travellers seek holiday resorts for business trips, advert shoots, and where they can hold seminars and conferences. Many people who rather wish to stay in a resort where they can get good services amidst fun than just a typical hotel.
The entertainment industry has also blossomed and video production companies are looking for the best location and sets for their videos and photo shoots. A resort provides both accommodation and location. For a fee, you can rent out your resort to a film production company or a record label willing to shoot a video for their artiste. Not only are you making money but also advertising your resort.
Give back to the Community
Having a resort in a location boost the economy of that area. Survey had shown that in as much as the resort would have all the holidaymakers need, they would love to have a look around their vicinity. This means they are likely to spend on the local restaurant, bars, markets, stores and engage in other activities that will make their visit memorable. You on the other hand, can employ the services of locals to provide security, laundry services, certain foods and materials and even as a guide.