Biekervi, this has been an interesting thread, each post brings up new thoughts. You are welcome to PM me, which I think puts us in contact via email if you desire more detailed answers. At times I fear I write too much. Random additions below.
Pricing: my knowledge of this business was limited to having been a motel guest in the area and thinking, yeah, I'd enjoy doing that work. In most things I learn the hard way, maybe that's not all bad. Initially my guide was photocopies of a crude hand written notebook of the guests in the prior year and watching a sign board at a larger property in town. Of course we didn't go to town on weekends to see that the price on the sign went up. My bad. Later I met and spoke with other property owners. Thirty years ago town was mostly a few large motels and many mom and pop places. Today mostly large high rise properties, I'm one of the last little places, although another town a few miles away still has the smaller spots.
Pricing, event, non event, hotel vs b&b: Never used OTA's, until about five years ago everything was pencil and paper, other than the weekday/weekend change, rates pretty much same year round. Lot of changes around that time. We got OLD too fast. Found this forum, thanks to friends here began online reservations (yes, it means my sweetie doesn't do computers, so I get the job usually). Retired from my "day job". Convinced our daughter and husband to move to our area and get involved with the old folks. Also thanks to friends here, attempted to move more to a B&B feel in our rooms. We now adjust prices some, but still tend to stay consistent. At this point in life I'd rather have longer stays than higher prices. Wouldn't make it without our daughter, but even there she is a grandma not a kid.
Neighbors: Probably too much to put in a public forum. Neighbors family built the business, was another owner before us, but still think there were some hard feelings that they business had not gone to family. Suppose that's changed over the years.
Life changes, doing it yourself: we started with a preteen and my mother, an 11 room motel became an 8 room motel with an expanded living area. Mom's gone, younger son grew up. Initially figure rooms would go back in business, but never happened, you never have enough room in this business. We always did nearly everything, in some ways doing is easier (mentally) than finding and dealing with employees and keeping all the necessary records that go along with hiring. At this point in life, was that a smart decision?
Shut off valves: I'm all in favor of adding, yet as years pass and I need a new faucet, guess what, shut off valve is gone bad and needs replacing also. Helps to be a bit of a handy person.