Inn preparing an INN-exit strategy, we recommend the following top ten items before we provide a comprehensive plan in association with our clients to deliver a strengthened position before sale.
- Present complete and accurate records including taxes for past three years
- Provide accurate occupancy levels by month from year to year for seasonality
- Have a complete inclusion and exclusion list as most inns expect complete furnishing with a sale
- Complete a property disclosure statement on condition of your inn
- Consider a detailed pre-sale inspection to eliminate any surprises for prospective buyers
- Keep all records current
- Advise specific details about overall marketing, expansion opportunities, and any defects or challenges.
- Remove unwanted clutter from inn guest rooms and common areas throughout
- Consider industry membership programs for value-add and evaluation
- Keep smiling!