Welcome to the LANDMARKTEAM and our association with Sutton Group – Preferred Realty Inc., Brokerage located in London, ON.

LANDMARKTEAM

The LANDMARKTEAM brings to the table over twenty years experience in converting older and sometimes "Historic" buildings to new uses. Understanding the unique characteristics of these buildings can sometimes be a challenge when the time comes when you have to place the the property and business on the market.

In Ontario there are hundreds of country INNs, B & B's, hotels, restaurants, Resorts and SPAs, and every year many of these properties change hands. Buyers are also interested in finding that "perfect" Historic property and give it new life.

Before listing any property, financial statements are analyzed in detail, the property visited and in depth discussions held with the owners. The property is given careful consideration to determine a proper marketing price, taking into account how that price will fit into the current hospitality market, the region, as well as the overall Historic integrity of the property.

If a property is strictly an Historic structure; then we start from that point and undertake a complete Feasibility Study of the property, the region, the potential market, needs assessment, not to mention the condition and layout of the property.

Innkeepers or B & B operators who are planning on selling their property or even considering this option in the future, or if you are a buyer considering a new Lifestyle; then there are several things to consider in the early planning stages. If you would like additional information regarding this Niche market, contact JOHN DOUGLAS MOROZ, Broker / Consultant @ 519-438-2222 or Direct 519-668-8135.

Landmark Marketing Team for Commercial, Investment & Residential Real Estate...

Inns, B & B's, Resorts, Historical Properties, Fine Homes and Estates....

LANDMARKTEAM...

The Hospitality "Business" means many things to different people. It could be fast food restaurants, regional and national chain restaurants, family run operations, fine dining and on. It also describes lodging facilities as diverse as national chain hotels, ski lodges, hunting lodges, motels, resorts, country INNs and Bed and Breakfast operations.

While all of the above can very easily be found in Ontario, some of the most sought after and romanticized properties are Country INNs and B & B's. So what makes these places so inviting?

What makes the Country Inn or B & B acquisition unique is that is incorporates three very important yet distinct aspects of an innkeepers life.

A New Lifestyle

First, it creates a new life style for the innkeeper and their family. The typical work day begins with the innkeeper up early overseeing breakfast. During the day, handling personnel, purchasing food and supplies, marketing, repairs/maintenance and financial issues are the norm. Attending to guests throughout the evening hours either as perhaps a chef or bartender in a full-service inn or making dinner reservations for guests at local restaurants in the case of a B & B rounds out the day. The demands of being "on call" seven days per week can certainly challenge even the long time business professional who is used to having layers of staff between them and their public and clientele.

Working Together... Working with a spouse full time, 24 hours a day, is perhaps the most challenging for new innkeepers. Many spouses have been working away from the home for years and are not accustomed to interacting or getting a second opinion on "their" business decisions. While many innkeepers extol the virtues of raising children in the "country", there is always the issue of moving them out of familiar schools and away from long time friends. It is critical for buyers to include family members in the search process and to make children feel integral to the decision making.

This is your "New Home"

The next aspect of purchasing a hospitality property is that you are purchasing a new home. Many first-time INN buyers have lived in large homes that easily accommodate their families. Finding an INN that can accommodate a family's needs without interfering with the operation and business of the INN is very critical to the Innkeeper's happiness and efficiency. One of the important factors of purchasing the "RIGHT" INN is to be sure that it suits the family both in looks, size, location and community style. The correct amenities are also critical and include sports facilities (tennis, golf, skiing, boating), academic considerations (special needs, sport programs), social and cultural considerations (libraries, theatre, museums, galleries, shops), and medical or transportation requirements.

It is at this stage of the process that is important to undertake a Feasibility Study, including a Needs Assessment, management planning, Financial Analysis, Marketing Strategies, and a host of other Business related functions in advance of any purchase because THE BUSINESS is the third aspect.

The Business

The third aspect of purchasing an INN is the business side of the property. We encourage anyone seriously considering being an INNkeeper to think of it as a Business. the ability to find the right lifestyle and the right home is only successful if the INN will support the cash flow needs of the purchaser including operating expenses, living expenses, mortgage/debt service and a net operating income position to compensate them for their initial investments. The Feasibility Study, mentioned above is crucial to gaining an understanding of the viability of this "Lifestyle" change.