Eliot Dalton

Next Stop - Mid-Atlantic Innkeepers Trade Show & Conference

noreply@blogger.com (Eliot Dalton) — Sat, 15 Jan 2011 19:51:00 +0000

4th Annual Mid-Atlantic InnKeepers Trade Show & Conference - Lancaster, PA

The 2011 PAII Innkeeping Conference & Trade Show in Charleston, SC was a great success. While at home recovering from a poorly timed bout of flu, my colleagues and clients reported from the action. All agree: the opportunities to learn, network and advance our Innkeeping industry were awesome. My wife and I attended some “virtual” workshops from home which were excellent. I’m certain there will be more virtual offerings in the future as technology advances. However, face-to-face meetings are still the best way to build human relationships, and to inspire collaboration. So, I am really excited about the 4th Annual Mid-Atlantic Innkeepers Conference!

Bed & Breakfast Innkeepers from all over the Mid Atlantic Region will come to Lancaster, PA on March 6th,7th & 8th, to learn more about regional tourism, marketing, food trends and technology. And to network! Conference organizers include Lancaster county Innkeepers who are eager to roll out the carpet for their neighboring Innkeepers. Partners include state B&B Associations. Of course, nationally known industry experts will be there to educate and entertain as well. And I will be there to welcome you! So if you haven’t already registered, please do.

Eliot Dalton Inn Broker and Consultant Bed and Breakfast Real Estate(610) 717 8083

Keywords of success for this Ohio Bed and Breakfast For Sale - Rest, Relax, Renew

noreply@blogger.com (Eliot Dalton) — Tue, 04 Jan 2011 19:48:00 +0000

The Innkeepers at Murphin Ridge Inn, Ohio Bed and Breakfast for sale, keep customers coming by staying focused on what they do best: provide rest, relaxation and renewal. That is just one reason this 141 acre, Select Registry, Inn and Restaurant thrives even during the "dark season" of winter.

A winter afternoon at Murphin Ridge may include a hike on the Inn’s woodland trails followed by a blissful massage. Nightlife at Murphin Ridge begins with a sumptuous dinner by the fireside, continues with watching the moon rise over a fresh dusting of snow and may end by falling asleep to the call of a Whip-poor-will. There may be no better time to offer gently rejuvenating experiences than right after the holidays, and the Murphin Ridge Innkeepers offer an assortment of packages and specials to make it easy for guests to imagine a perfect combination of RR&R elements. Whirlpool tubs (in every luxury Cabin) are deeply relaxing and romantic at any time of year, but especially so in winter.

There are 17 fireplaces at Murphin Ridge Inn and every room has comfy chairs and a country view. It is a wonderful place to watch the world fill up with snow. Snowfall makes extra work for the Innkeepers. But then, every season has its tasks and pleasures:

Spring – Plant herbs and lettuce, spring cleaning. Watch songbirds build nests.
Summer – Mow the field, make lemonade, pick tomatoes. Float in the swimming pool.
Fall – Harvest late vegetables, rake leaves. Walk under maple trees, stargaze.
Winter – Make soup, pour wine, shovel snow. Read by the fire, get a massage.

Of course, the Innkeepers and their staff have a much longer list of tasks, but they excel at making guests unaware of it. That is part of keeping the focus on providing rest, relaxation and renewal. It is another reason this Four Season Inn thrives.

The Innkeepers of Murphin Ridge Inn are ready to pass this excellent hospitality business on to new owners. Can you picture yourself providing guests with RR&R and award-winning cuisine in a peaceful country setting? If you can, please contact me – Spring will soon be here!

Eliot Dalton Inn Broker and Consultant Bed and Breakfast Real Estate(610) 717 8083

Running A Bed and Breakfast, The Three Pillars of Innkeeping

noreply@blogger.com (Eliot Dalton) — Wed, 10 Nov 2010 17:19:00 +0000

As an Inn Broker, I visit many Inns. I have learned that the best advice on running a bed and breakfast or inn comes from … Innkeepers!

Recently I visited two seasoned Innkeepers at their successful Country Inn. In between arriving guests, kitchen deliveries, and an unexpected party of 17 for dinner, we had wide ranging conversations about the Innkeeping business. My host made the comment that there are three pillars to successful Innkeeping: hospitality, housekeeping and food. He had summed up the secret to successful Innkeeping in three words!

Hospitality is the practice of graciously meeting the needs of guests. Hospitality is characterized by receiving guests cordially, treating them with respect, and showing a genuine interest in their comfort. Hospitality is the relationship between host and guest. When you extend a warm welcome to your guests, you are being hospitable. If you leave your arriving guests standing at the front desk while you finish your conversation with the delivery guy, you are not.

Housekeeping is the practice of cleaning and keeping furnishings in good order. This includes the exterior and grounds. B&B housekeeping includes maintenance and thorough attention to details. The guest’s room gets top priority. Compulsive cleaning is a virtue at an Inn! A stain on the rich, silk coverlet will turn the guest in your “best room” off, while even the most rudimentary accommodations will be charming if they are spotless.

Food at an Inn or Bed and Breakfast should be great. Great food can be simple country fare or cutting edge “Top Chef” cuisine. It doesn’t have to be fancy to be memorable – after all, who doesn’t love a freshly baked pie? Whatever the style, all great food begins with high quality ingredients and is prepared with attention and care. Browse inn review websites and you will see that guests frequently complain about cold “store bought” muffins. Whether served in a basket at the cabin door or by candle light in the dining room, a thoughtfully prepared breakfast is a hallmark of hospitality.

By keeping the Three Pillars of Innkeeping foremost in your mind, you will assure your guests of memorable experiences and make your Inn business more successful.

Thanks to the seasoned Innkeepers who shared this Innkeeping wisdom with me – they know who they are!

Eliot Dalton Inn Broker and Consultant Bed and Breakfast Real Estate(610) 717 8083

Innkeepers Conferences - Worth The Cost?

noreply@blogger.com (Eliot Dalton) — Thu, 30 Sep 2010 16:07:00 +0000

In the era of webinars, Skype and virtual worlds, are actual conferences obsolete? A growing amount of the educational content at conferences is available through technology, and vendors can show you their wares online. So what are the benefits of attending? After all, attending a Bed and Breakfast Innkeepers conference costs both time and money.

A generation ago, the community of Innkeepers was relatively small and annual gatherings provided an opportunity to socialize, compare notes, collaborate and network. As our industry grew and matured, our professional associations became service (vs. social) entities. The ascendancy of our industry coincided with the growth of technology and today professional organizations can deliver a huge array of services virtually and electronically. Why have conferences?

Cornell’s School of Hospitality just published a paper on The Future of Meetings. The authors assessed the value of face-to-face meetings for corporate meeting planners and reached this conclusion:

Face-to-face meetings are the best approach for building human networks and relationships, and for inspiring collaboration.

These are the very benefits that brought Innkeepers together a generation ago!

That sounds great, but is it worth your time and money? How can you know? Inn guests make a value calculation when choosing your Inn, deciding “Yes” when they expect the value received to meet or exceed their expectations. The goal of The Mid-Atlantic Innkeepers Conference is to combine information value with people value. It is designed by Innkeepers and former Innkeepers. I suggest that you learn more about the 2011 conference and make your own value calculation. I think you will come!

Eliot Dalton Inn Broker and Consultant Bed and Breakfast Real Estate(610) 717 8083

Can you sell your Inn in this economy?

noreply@blogger.com (Eliot Dalton) — Sat, 11 Sep 2010 13:40:00 +0000

Is now a good time to list your Bed and Breakfast Inn for sale?

You may think the answer depends on the banks and the economic cycle and our political leadership. But while those forces certainly influence the economic conditions for selling your Inn, the real answer depends on … YOU.

Two major factors that determine whether the timing is right for you to sell your Inn are your grasp of marketplace conditions and your goals. This means having both a big-picture understanding of economic reality and a clear understanding of your personal goals.

Economic Reality

The truth is real estate values have dropped in most markets. It is a buyers’ market and buyers are hesitant. Traditional lenders are wary and overwhelmed. No one can predict when conditions in the world of bed and breakfast real estate will change. You don’t have control over market forces, but understanding and adapting to them will give you control over your individual situation.

Personal Goals

One of the first questions I ask clients is “What do you plan to do after you sell your Inn?” Whether you are ready for your second retirement, want to continue Innkeeping elsewhere, have a new business venture in the works, or miss your family on the West Coast, your future plans drive your motivation for selling. If your goals are clear, then laying out a plan to achieve them is easier. Most of us have seen our real estate equity and our savings shrink. If that is the case for you, ask yourself why that should stop you from achieving your goals.

Is now the time to sell your Inn? Discuss your personal goals with your partner, family members and friends. Get informed about the marketplace for Inns and get well informed guidance about selling. You will be better prepared to move forward whether you decide to sell your Inn or not!

Eliot Dalton Inn Broker and Consultant Bed and Breakfast Real Estate(610) 717 8083

What makes this Maryland Inn For Sale a Nature Resort?

noreply@blogger.com (Eliot Dalton) — Tue, 01 Jun 2010 18:23:00 +0000

When is a Bed & Breakfast Inn a Resort?

Our dictionary defines a resort as a place that provides recreation and entertainment to vacationers. To some, that means dance lessons and floor shows. To others it means trout fishing, bird watching or a relaxing massage.

At the Stonebow Inn, a western Maryland Bed and Breakfast for sale, guests find Nature in abundance. The Inn sits on the banks of a famous trout stream, in the midst of the Allegheny Mountains. The creature comforts here have been well thought out and include a range of accommodations from renovated historic bedrooms to private cottages. There’s as much “Nurture” as “Nature.”

In the last two decades, learning vacations have grown in popularity. To update the concept of “Resort” think of learning as entertainment and doing as recreation. Across the street from the Stonebow Inn is the Spruce Forest Artisan Village which offers workshops in arts and crafts as well as a summer music series. Nearby, guests can take a kayak tour, play golf or ski. On the Inn premises, guests can fly fish (guides are available,) bird watch, take a sauna or get a massage.

By making use of the fully restored post and beam barn and the carpeted recreation room learning-and-doing programs can expand at the Stonebow Inn. “Audubon” … “Arts and Crafts” … “Yoga” … “Watercolor” … “Fly Tying” … “Nature Writing” … These are ideas that immediately come to mind. Guests at the Stonebow Inn love the natural setting – New owners will be inspired to offer them more ways to appreciate it!

Eliot Dalton Inn Broker and Consultant Bed and Breakfast Real Estate(610) 717 8083

Inn Photography and Bed and Breakfast Photography Matters!

noreply@blogger.com (Eliot Dalton) — Mon, 10 May 2010 19:38:00 +0000

The adage "A picture is worth a thousand words" is true!

Today, an Innkeeper with an Inn for sale is competing with hundreds of Inn owners for the attention of potential buyers. Just as potential guests rely on photos to form an impression of an Inn, so do potential buyers. An Inn buyer who is contemplating a move from California to New York will want as complete a picture as possible of an Inn before booking a flight to go see it! Most Bed and Breakfast Inns have websites with good photos of guest rooms, common areas and the exterior setting. Inn buyers are interested in seeing everything else. Photos of the Innkeepers' living quarters are of utmost interest, followed by the kitchen and work areas. Outbuildings, storage areas and potential expansion space are other subjects for photographs of a Bed and Breakfast for sale.

Are professional photos necessary? It's easy to compare the inspiring work of a professional Bed and Breakfast photographer with grainy do-it-yourself photos taken in a hurry.

But with patience, and a little practice, a determined Innkeeper with a digital camera can produce very good Inn photography. (Amateur Inn photographers interested in improving skills should visit the Ken Rockwell website - lots of excellent, free how-to information.) An Innkeeper is always on hand for a "magic moment" and can shoot photos over time.

For Innkeepers who do not have the time to become experts in Bed and Breakfast photography, the services of a professional Inn photographer are an excellent investment. Professionals are experts at making Bed and Breakfast properties look romantic, vibrant and successful.

Either way, Bed and Breakfast photography should be both informative and attractive. Naturally, guest rooms should be "picture perfect" - and so should Innkeepers' living quarters! Prepare for a photo shoot as though a VIP is coming to visit - clean, organize and use fresh flowers.

Great Inn photography will:

set an Inn apart from others on the market
leave a lasting, positive impression
create as complete a picture as possible of the entire property

Eliot Dalton Inn Broker and Consultant Bed and Breakfast Real Estate(610) 717 8083

Bed and Breakfast Information - Record Keeping

noreply@blogger.com (Eliot Dalton) — Tue, 13 Apr 2010 18:28:00 +0000

The importance of keeping accurate and complete financial records is obvious when you sit down to prepare your income tax return. What about other records such as permits, licenses, advertising analytics, insect treatments, occupancy rates, equipment warranties, etc? When a Bed and Breakfast for sale is under review by a buyer, accurate financial data is essential. Both the buyer and her lender expect to be fully informed, in order to make an intelligent decision. That information gathering goes beyond tax returns. For example, a buyer must know if the Inn for sale is permitted to operate by the local authority. On the other hand, the roof doesn’t have to come with a warranty, but if it has one, documentation of that is helpful and will strengthen the deal. Good record keeping will expedite the due diligence phase of a contract to buy a Bed and Breakfast, enabling both parties to reach settlement sooner.

Some of us are naturally more organized than others. If you are like me, after preparing your tax returns, you will promise yourself to be more precise during the coming year. If you are contemplating listing your Bed and Breakfast for sale any time in the future, now is the time to start organizing.

Eliot Dalton
Inn Broker and Consultant
Bed and Breakfast Real Estate
(610) 717 8083

Seller Financing Options for Inns For Sale

noreply@blogger.com (Eliot Dalton) — Mon, 29 Mar 2010 15:00:00 +0000

Seller financing of Inns, wherein an Inn owner offers a mortgage to an Inn buyer, was rare during the last decade. Money was cheap and lenders were eager to lend. Those conditions have certainly changed and bank financing for Bed and Breakfast Inns is elusive today. Seller financing of Country Inns and Bed and Breakfasts for sale is re-emerging as an option that benefits both parties. One advantage is that the Inn buyer and the Inn seller have control over the terms of the transaction. A seller does not necessarily have to own the B&B outright in order to offer seller financing. Here three ways a seller can participate in financing:

Free and Clear Financing – When a seller owns a property “free and clear” there are no liens or mortgages on the property. In this situation the seller and buyer are free to make any terms they want to in order to make a deal successful. An Inn owner typically agrees to transfer title to the Inn in exchange for a note and a security interest in the property. The note is paid off like a conventional mortgage, though to the seller instead of a bank.
Second Position Financing – In this scenario, the Inn buyer makes a down payment, obtains new mortgage financing (paying off the seller’s existing mortgage) and the seller finances the remainder of the purchase price. Down Payment + Bank Financing + Seller Financing = Purchase Price.
Purchase Option – Any time the Inn buyer gives money to the Inn owner for the right to purchase the property at a given price and within a given time frame the buyer has a “purchase option”. Typically, the buyer simultaneously leases and operates the Inn. This is a form of seller financing because the seller still owns the Inn until the buyer purchases it (exercises their option to purchase) or the option expires.

As the chill on institutional lending persists, and the inventory of available Inns remains high, variations of seller financing will become more commonplace. I would be happy to discuss any of these options for financing the purchase or sale of your Bed and Breakfast for sale - contact me!

New Business Plans for the New Environment

noreply@blogger.com (Eliot Dalton) — Thu, 25 Mar 2010 14:49:00 +0000

Most Innkeepers felt the effects of the Great Recession in 2009. Continuing high unemployment numbers and waves of home foreclosures mean that consumers won’t be spending freely in 2010, either. Travel is, after all, “non-essential”. This trend is likely to last for some time. With the easy lending practices of a few years ago being replaced by Scrooge-inspired lending rules for small businesses, it’s difficult for Bed and Breakfast owners to find financing for improvements or seasonal credit. What are pressured Innkeepers to do? Now is the time to plan.

A new business plan will:
•    Force you to focus on your Inn’s strengths and weaknesses.
•    Keep you on track in the face of daily distractions.
•    Give you a sense of control.

A new business plan will also serve to tame the “marketing monster” so that your limited resources are carefully targeted.

Of course, the most important way to grow your B&B business and bring happy customers back will always be to deliver great service in a beautifully maintained Inn brimming with atmosphere and comfort. But a current business plan will help you take specific steps toward more success and reduce stess.

Offer Guests Educational and Cultural Packages

noreply@blogger.com (Eliot Dalton) — Tue, 16 Mar 2010 02:08:00 +0000

“Today’s guests increasingly buy the experience. Witness the growth of cultural and eco-tourism, spiritual and physical wellness packages, heritage tours, culinary immersions and other unique revenue-producing programs. Successful contemporary hoteliers focus keenly on creating a home base for the modern social experience–adventure, education, or just hangin’–accompanied by up-to-date technology and décor.”

Words from a Bed and Breakfast consultant? No, this commentary is from Tom Brumleve, a columnist for the online hotel industry news site HotelNewsNow.com.

The hotel industry is in hot pursuit of Bed and Breakfast Inn customers and that is a good reason to double-down and create special programs to educate and entertain them. This is what Innkeepers have been doing for generations (remember White Christmas?) This year, more than ever, is the time to start something new and interesting at your Inn or Bed and Breakfast!

Welcome!

noreply@blogger.com (Eliot Dalton) — Mon, 01 Mar 2010 21:20:00 +0000

Hello Innkeepers, Future Innkeepers and Friends of Innkeepers! I’ve started this blog to share ideas and thoughts about our unique industry and to stay in touch. I hope you’ll find value in the postings.
It’s March 1st and in Southeastern Pennsylvania we’ve enjoyed three major snow storms! It reminds me of winter in the Adirondacks, where we enjoyed cross country skiing when my wife and I were New York Innkeepers. We found time to slip away from our Hudson Valley Inn for skiing during our “slow” season. It was a great cure for cabin fever, and a heck of a workout. Now that we live in Kennett Square, Pennsylvania (very near Delaware and Maryland) we enjoy walking in the country lanes and fields of Chester County… but we left our skis and snow shoes in Upstate New York - so we have to wait for better weather! I’ve taken this “cooped-up” time to add some new articles to my bed and breakfast for salewebsite, so you should take a look.