Because the term can refer to either owning or managing a hotel, the process to become a hotelier can differ depending on your goals. If you want to manage hotels, you should get a four-year hospitality degree or a vocational certificate. Working in the hospitality industry in a variety of lower-level positions can also help you gain valuable experience if you’re looking for a hotelier job. Becoming a hotel owner is a much simpler process, though it does necessitate a sizable initial investment as well as a significant amount of operating capital. If you want to own a hotel, becoming a hotel manager first to learn the industry is also an option.
To become a hotelier, you must first determine whether you want to own or manage hotels. It’s also possible to begin managing hotels and later purchase or open your own. If you want to work as a hotel manager, you should go to school and get a hospitality degree or certificate. Hospitality and hotel management certificates and degrees are available from a variety of community colleges, vocational schools, and universities, though a business degree is also beneficial. Although formal education is not always required to work as a hotelier, it is a valuable credential to have on your resume when you begin looking for work.
There are a variety of paths to becoming a hotel manager. Many hotel managers come from lower-level management positions within the industry, but they can also come from a successful career in another field. After graduating from college or vocational school, you may work your way up from the bottom or find a job as a lower-level manager. If you want to work in the hotel industry, positions like food and beverage managers, front desk managers, and other similar positions can be beneficial.
If you want to open a hotel, there are several options available to you. One option is to start as a manager, which will give you a better understanding of the business. You can also invest directly in a franchise or open your own hotel, but you’ll need a management company to run the day-to-day operations.
Whether you start by managing hotels or by purchasing a franchise, you’ll need a substantial amount of cash. Raising initial capital is similar to starting any other business, and you should have a thorough business plan to show potential investors. If you have extensive knowledge of the business as a result of your previous experience as a successful manager, you can use this to demonstrate to potential investors that you have the necessary experience to lead the venture to profitability.