Introduction: Ten Unique Ways to Make Money From Holding Leases at a Crowne Plaza Suite
Crowne Plaza opens the hotel for a few months prior to the event, which helps make the facility available for a longer period of time. The Crowne Plaza Hotel provides guests with luxurious hotel services and wonderful facilities during the event. During this period, Crowne Plaza can charge more for lodging because of increased occupancy and because of pre-event marketing efforts. Any increase in value that is attributed to occupancy also increases Crowne Plaza’s ability to maximize their profits.
When Crowne Plaza signs a lease with a team, they are entering into an agreement with the team to provide them with facilities and services for a specific period of time. Crowne Plaza is guaranteed to receive a certain amount of money from the lease agreement, regardless of how much revenue they may or may not generate from event-related activities. Leasing a suite to a team is an extremely lucrative business venture for them.
Concessions: Concessions are food stands that provide refreshments to event-goers. Because majority of events occur in the late afternoon and evening, most concession stands are open during these times. During the off-season, concessions operate only on weekends. Concession grows and shrinks depending on the amount of fans in attendance at the venue.
What is Crowne Plaza? How Much Does it Cost, When Can You Buy It, How Much is the Price and How Much Can You Spend in the First Year?
A Crowne Plaza is a third-class brand of hotels that are owned by InterContinental Hotels Group. The Crowne Plaza is the highest tier in the InterContinental chain and generally offers the most amenities and services available. Rooms are larger than those at other hotels in their class and offer free internet access and a swimming pool. If you purchase Crowne Plaza and will be paying with cash, you can buy a hotel for as low as $16,000. If you use a loan, the bank will want to see that you have profitable experience in the hotel industry and large amounts of capital to pay them back. If you are willing overall in states, a two-star Crowne Plaza will cost about $700,000.
The most popular hotel in the United States is located in Texas and offers a price of $335 million. With the money that you raise from the sale of your hotel can allow you to buy another property to get the best mortgage rate you can afford. Many people have their own restaurants, several hotels or land around their property to increase their monthly profit margin.
The hotel is rated four stars and is located in Texas. The InterContinental Hotel has 170 rooms, two restaurants on the property and a disco. Crowne Plaza is also in a very good location, as it has easy access to six major cities such as San Antonio, Dallas-Fort Worth and Austin.
Pricing for a Ten-Year Lease at a Crowne Plaza Suite
If you rent a Crowne Plaza suite for 10 years, you have to make a decision about the asking price. You can ask for no more than the market price for a similar product in the area. If you are offered $500,000 and know that similar hotels in your area are leasing at a higher price per year, then you should try to ask $500,000. You must be willing to negotiate with high-end hotels.
If you are offered a price such as $300,000, then do not accept it. If you do not like the price, then look for a similar product in the area. You should have an agent take pictures of similar hotels in your area. These photos will be used to show management that the room is worth more and give an alternative price. Management can then take into consideration these facts before setting your asking price. If a hotel accepts a price from an agent and then does not honor it, this is unethical.
Good luck with your negotiation!
-Kelly K. Landrum
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