How long does it take for a motel to sell?

Well it appears that things are looking up for everyone. The feedback we are getting form moteliers is that business is flowing along and we have found 2014 to be much busier than the last few years. We have far more inquiries and these are resulting in sales, although it is still the lower priced motel businesses which seem to be selling.

We often get asked when is the motel selling season? The answer to this is that there isn’t one. Motels sell all year around. Sometimes we have a bit of a spurt after the Christmas break, as people returning from holiday re-evaluate their life, but it is generally steady all year. Some motels sell as people want to get in for summer and some sell as people leave at the end of summer. Winter can be a busy season in some parts of the country so the same trends follow there.

How long does it take for a motel to sell? The answer to this is “how long is a piece of string”. Every motel is different and so we cannot put a finite time on the sale period. We have motels which have been for sale for a number of years and others which have sold within a week of listing. It is not the average length of being on the market which will affect the time it takes to sell a motel but the package which is presented. Generally if a motel is priced correctly for the market, presented well and has a reasonable length of lease it will not take forever to sell it.

For those of you with your motel on the market or contemplating selling it is important to get your end of year accounts done as soon as possible. Any prospective purchaser will want to view your financials and will expect you to have the latest figures. This is usually something they do before even contemplating an inspection so they are needed as soon as they can be prepared.

We are hoping that the increase in business confidence will continue and everyone will continue to have a very good year in 2014. If you have questions regarding anything to do with motels or motelling feel free to contact us. If we don’t know the answer we will probably know someone who does.