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How much does it cost to buy a hotel? In one word—a lot. The Bliss’s price tag was far more than I could afford alone, so I was lucky to have family willing to help. Together, we put together an investment plan.
Raising the money was just the start—the next hurdle was navigating a maze of regulations and permits. Every industry has its quirks, but hospitality comes with an entire manual of compliance. The most surprising? I had to get certified in handling intoxicated guests! It’s funny in hindsight, but it’s one of those unexpected realities every hotel owner has to deal with.
Then there was the building permit: Are your fridges cold enough? Are the toilets accessible? Every inch of the property was scrutinized. And don’t forget the fee for every single television in the building—if you’re offering content in any way, you’re technically a broadcaster!
After wading through every permit, every application, and every last detail, I finally had the keys in hand. I celebrated with the previous owner over champagne, letting it all sink in.Â
Then, I walked through each room, took in the view from the windows, and just stood there, proud. This was my dream, finally brought to life.
Lesson learned: I can’t stress enough how helpful it is to get legal advice and support early on. Hospitality is full of rules and compliance requirements that can catch you off guard if you're not prepared. It’s a good reminder that running a hotel isn’t just about passion—it’s about paying attention to the details and making sure you meet all the standards.
