Cant sell my hotel

GDB2222

Ricerocket0_1 wrote: »

The Commercial property's are painfully cheap in Blackpool due to the corrupt local Banks, Estate agents and Councillors who work together to suppress prices! Running a Hotel in Blackpool is not a profit making business any more.

I am a bit lost here. What's corrupt?

I sympathise with your point that there's far too much accommodation in Blackpool for the number of people who want to come. What could/should 'they' do about it?

Incidentally, this isn't a downturn in visitor numbers that's affecting all resorts. I spend a lot of time in Sheringham, and the area is booming, although they probably also suffer from a relatively short season. It's also a seaside resort, without anything like the attractions Blackpool has.

chickmug

Ricerocket0_1 wrote: »

I know....I'm reading through them now. However I have tried most of what I'm reading.;)

Have you read my post 112 as it tackles it from an agent point of view?

Ricerocket0_1

GDB2222 wrote: »

I am a bit lost here. What's corrupt?

I sympathise with your point that there's far too much accommodation in Blackpool for the number of people who want to come. What could/should 'they' do about it?

Incidentally, this isn't a downturn in visitor numbers that's affecting all resorts. I spend a lot of time in Sheringham, and the area is booming, although they probably also suffer from a relatively short season. It's also a seaside resort, without anything like the attractions Blackpool has.

A number of years ago I invited a well established Blackpool estate agent around to value my property for sale. He like all the rest valued it at the same figure with out seeing it???? After questioning him at length he come clean and admitted the Banks, Local Estate Agents and Council members would have annual meetings to access the values of all Commercial Guest Houses/Hotels. Between them they kept the prices low to enable quick turn around of sales, that way they all got there regular share of selling commission's. Especially when the place was booming, always a large turn over.
My property was valued the same as my neighbours, yet he's was in a state of disrepair and I hade spent some £100k on improvements.
They got there little folders out, looked up post codes and how many en-suites we had.......then gave a price, the same price!
Like that's a fair system, but that's what goes on here!
Think about it, the largest Sea side resort in England with the longest season yet the cheapest place in the Country to purchase Guest Houses/Hotels???

Your second comment what can they do, well in some streets the Government are giving the smaller Guest Houses £130k each to de-commission and turn back to smart Victorian Houses. They are made to take the Naff old sun lounge extensions of the front and take the roof extensions down.
The larger property's like mine should be Bull dozed, I'll be the first to admit that. It's a super property but had it's day!

Your third point, yes there has been a terrible down turn to Blackpool. I can't speak for other resorts. Those that are up on occupancy's and there are always some, are not making any money. Impossible with the low Tariffs in Blackpool.

Ricerocket0_1

chickmug wrote: »

Have you read my post 112 as it tackles it from an agent point of view?

Yes spot on, Bag a Business and Knightsbridge both had me :mad:

lynzpower

Your second comment what can they do, well in some streets the Government are giving the smaller Guest Houses £130k each to de-commission and turn back to smart Victorian Houses. They are made to take the Naff old sun lounge extensions of the front and take the roof extensions down.
The larger property's like mine should be Bull dozed, I'll be the first to admit that. It's a super property but had it's day!

Have you spoken to the government about whether in time, yours might fall into this category at some point?

i really feel for you, i know blackpool has seen better days, the boozing culture has made it quite an unpleasant place to be sometimes

RecoveringAlcoholic

Griselda, 31, spent years working as an analyst in hedge funds and banks. She was made redundant in November 2008. Griselda is appointed to work with the self-described Queen of Blackpool, Pat Mancini, MBE, at the 107-room Queens Hotel. Like many businesses in Blackpool, the Queens has struggled for business in recent years and the credit crunch has delivered what Pat fears may be the killer blow.

At the hotel, Griselda learns the ropes from the ground floor up, working in the housekeeping department, the restaurant, the kitchen and the bar. But can she come up with a corporate hospitality plan to help save the Queens?

http://www.bbc.co.uk/programmes/b00mf3g6

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joolsybools

Sell it to a private health company that runs hospitals or something. They might want to convert it. Uni halls of residence if you have a uni there?

chickmug

Ricerocket0_1 wrote: »

Yes spot on, Bag a Business and Knightsbridge both had me :mad:

The two worst and RTA is another.

Ricerocket0_1

lynzpower wrote: »

Have you spoken to the government about whether in time, yours might fall into this category at some point?

i really feel for you, i know blackpool has seen better days, the boozing culture has made it quite an unpleasant place to be sometimes

No....I'll wait until next spring. One more last push to sell first :rolleyes:

GDB2222

It strikes me that the problem in Blackpool is too many hotels chasing too few clients, with the result that there's absolutely cut-throat competition on prices. That can only be resolved in a couple of ways:
1. Loads of hotels go bankrupt or simply close up.
2. The town ups its game and attracts more visitors.