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How I Bought My First Boutique Hotel and Where I See Opportunity Over the Next 18 Months | E6
The Rich Somers Report
Maximizing Profit through High Bed Occupancy
By implementing a strategy of maximizing bed occupancy in a market like San Diego where there is high demand from various traveler segments, including international travelers and business travelers who seek good locations at affordable rates, one can generate significant revenue. With the potential to charge between 50 to 70 dollars per bed per night and accommodating multiple beds in a room, it is feasible to earn four to 500 dollars per night. This approach leverages the demand for cost-effective accommodation options, allowing for substantial profits by targeting customers seeking quality stays at lower prices.
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Speaker 1
This kind of gross, to be honest with you, but they were like staying full and charging 50, 70 bucks a bed per night, which is crazy. If you think, hey, you can put four to six beds in a room, that's four to 500 bucks a night, which is crazy. And so in a market like San Diego, it kind of makes sense because it's expensive to rent a room, but there's a lot of demand of travelers, international travelers, business travelers, people that just want a nice place and they don't want to spend 250 bucks a night on a hotel, and they want to be in a good location. So what we're going to look to do, we have our inspection day tomorrow, and we're in our due diligence phase, and this is fluid. So our business plan is probably going to be tweaked.
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