Inns for sale

[JunieBJones (JBJ)]

What financials are we speaking of? That is the diff between old school keeping bookings on index cards and being able to run off a report in one second flat for any month, any room, or year. It is all there. I can give a list of every discount given for any day, week month year or room. My 2007 expenses are not in yet, but they are approx the same as 2006 - I have every utlity, tax amount, etc in there so that is easy enough to hit print on.
When we bought here they had to put figures together and did so on a word spreadsheet, it was a big deal since they had no online bookings or guest mgmt software at all, index cards. We had not ONE piece of guest information from them, not a drop.
Then we had their tax returns which they mixed up in their own side business. They ran ALL of it together as an S-Corp.

 

[Morticia]

What financials are we speaking of? That is the diff between old school keeping bookings on index cards and being able to run off a report in one second flat for any month, any room, or year. It is all there. I can give a list of every discount given for any day, week month year or room. My 2007 expenses are not in yet, but they are approx the same as 2006 - I have every utlity, tax amount, etc in there so that is easy enough to hit print on.
When we bought here they had to put figures together and did so on a word spreadsheet, it was a big deal since they had no online bookings or guest mgmt software at all, index cards. We had not ONE piece of guest information from them, not a drop.
Then we had their tax returns which they mixed up in their own side business. They ran ALL of it together as an S-Corp..

The POs here had it all online. Their broker made a nice little pkg of the info. But it was all $$$, no guest info. No ADR or RevPar or anything like that. And, yes, the ubiquitous 3x5 cards with guest names and other info. They actually DID have a db which they neglected to tell us about and they took it with them. Essentially, the guest info was useless because it was inaccessible. Guests would call and insist we MUST have their info, they'd stayed so many times, yadda, yadda. We'd have to say nothing was left for us. They didn't believe us.

 

[innshopper]

I’ve been spending a lot of time looking at for sale listings recently, and I agree that the new volume on BBOnline has fallen off substantially. I remember when there would almost always be 30+ listings on the “last 30 days” page. That said, I’m pretty sure they still have the largest list of inn for sale listings.
I’ve also noticed a lot of inns for sale on individual state association web sites that aren’t listed on any of the paid listing services. I’m sure this has always been the case, but it seems like maybe the number has increased?