Starting a Business

How Do I Start a Hotel Business?

Guest Writer
min read
Opinions expressed by Entrepreneur contributors are their own.

First, you'll want to get an idea of the market, its needs and the type of capital needed to launch this idea of yours. To do that, start by talking with people in the industry.

You'd probably be better off looking for a partner with experience and contacts rather than trying to "reinvent the wheel." That said, these types of concepts are usually years in the making, even in big hospitality brands. So, think hard about the true viability of the concept and how long you're willing to wait before you see a return on your investment of time, energy and financial resources.

More due diligence will answer your questions, whether you like the answers or not.

In the end, you may discover a new market or you may be able to adapt your idea to another aspect of the industry. But you most likely won't know until you understand the industry better than you do right now.

Related: Two Weeks to Startup: Research Your Business Idea

Related: How to Build a Stellar Team at a High-Potential Startup

More from Entrepreneur

Kim's expertise can help you become a strong leader, pitch VCs for capital, and develop a growth strategy.
Book Your Session

For a limited time only, get this bundle of Entrepreneur PressĀ® titles for less than $30 (60% OFF) on our bookstore when you use "LEAP" at checkout.
Buy Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.