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Accommodation ownership offers a rewarding lifestyle and a great investment.

Being the owner operator of an accommodation lodging can offer a very lucrative and rewarding lifestyle that allows you to be your own boss while creating un-forgettable memories for thousands of travellers every year. There are many investment opportunities to become a part of this multi-billions dollar industry as numerous operators are nearing their retirement and looking for new owners with new ideas and enthusiasm to continue their legacies. If it’s time in your life to semi-retire, or you want a change of pace from the hurried urban lifestyle, owning a rural resort, commercial accommodation property, B&B or campground could be the lifestyle change and solid future investment you are looking for. With a passion for hospitality, a solid marketing plan and the ultimate location you can bring your resort ideas to fruition. Purchasing an existing resort or tourism accommodation property is easier than a bare land startup from a financial perspective, you will be fully operational and turn a profit sooner. An established location comes with existing dwellings, infrastructure, services, clientele and marketing, all to your advantage. 

The tourism accommodation and hospitality industry in B.C. is large and diverse, and every year thousands of travelers from all over the world come to Super Natural British Columbia for their dream vacations. The biggest portion of visitor spending, 25% to 30%, is spent on accommodation, and those visitors are looking for that one-of-a-kind lodging that will let them experience the natural adventure that is B.C. is famous for. Travelers crave authentic experiences! Intimate surroundings and welcoming friendly service from their hosts. 

There are hundreds of different types of lodgings and accommodation choices when planning a trip through this province, from luxury urban hotels to wilderness lodges, guest ranches, guide outfitters, bed & breakfast’s and niche recreational resorts catering to outdoor adventure activities. 

In recent years the new RV Rental Industry has generated a large segment of visitors who are touring and exploring BC on their own. For many travelers, being able to directly engage with BC’s raw nature is why they chose to come here. We often take for granted our diverse surroundings, wildlife and all the amazing outdoor recreational activities that we have to choose from year round. According to the Camping and RVing British Columbia Coalition, BC is home to 340 vehicle accessible campgrounds managed by the BC Society of Park Facility Operators, and Destination British Columbia inspects and approves over 500 campgrounds across the province. Seven national parks within the province contain an additional 14 campgrounds, and the BC Recreation Sites and Trails Branch manages more than 1,200 back country sites including campgrounds and other facilities. The over 300 privately owned RV parks and campgrounds host a mixture of longer-stay residents and overnight guests.

This province is fortunate to have so many dedicated commercial tourism accommodation operators who strive to provide the ultimate guest experiences at their unique establishments. In cases, such as at a remote resort lodging, the operator is guest services, and may represent a person’s entire vacation experience. Today travelers are savvy and seek out the most unique accommodations and experiences guaranteed to make unforgettable holiday memories. A few examples of one-of-a-kind BC tourism accommodations include; Goldenwood Lodge Teepees in Golden, where visitors sleep in traditional teepees with a fire pit overlooking the majestic Rocky Mountains, sleep suspended in a whimsical handcrafted sphere tree house in Qualicum Beach at Free Spirit Spheres, or soak day and night in your own private halcyon hot spring pools when you rent the waterfront Hot Spring Escape Chalet on Arrow lakes Galena Bay, BC.

When viewing potential properties keep in mind your goals. Short term does the property have the potential to be a viable profitable sustainable business with your ownership? Long term, when you retire do you plan to sell and move on, or subdivide and sell titles of the acreage to fund a comfortable retirement living? Once you’ve found a few that really stand out, stay at the resort or accommodation as a guest for a few days. Try to do this before anyone is aware that you are considering the property’s this will give you the opportunity to view the property as a guest would.

Know the zoning, find out if the property is sub-dividable, in the ALR, or has any other regional restrictions that would hinder your future plans. A qualified accountant to help you examine the businesses financial records and analyze them to mitigate your risk. A professional inspection of the entire property all the dwellings, services that are above and below ground, as well as examine in detail any environmental bylaws, water licenses, permits and building code compliance. This may also help you figure out how you will renovate any existing structures to meet your exact needs.

Look at the financial statements for the past two or three years and occupancy rates and expenses for running the business. Verify all financial information. Look at the financial statements for the past two or three years. Compile the occupancy rates, room rates and expenses for running the business. As always, verify all financial information.

It is usual for the buyer to have a 30 day study period, and this is usually set down in the letter of intent or the agreement of sale. Use this period to check things out to your satisfaction. In conclusion, always work with a confident and knowledgeable commercial realtor and a reputable Solicitor to help you navigate the documentation that accompanies a commercial property portfolio.  

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