Since 2001, we've posted 20,585 different business opportunities and ideas, so you're sure to find something here to inspire you!

StepNpull: Open Doors Hands Free

StepNpull: Open Doors Hands Free

Read more...

Vote For Your Favorite .biz Domain – Hint! Hint!

Vote For Your Favorite .biz Domain – Hint! Hint!

Read more...

Q&A With Christmas Caroloke Creator

Q&A With Christmas Caroloke Creator

Read more...

   

Inns Turn Into Homes As Owners Cash Out

Startup Journal:

Bed and breakfasts have thrived for decades by promising to make guests feel like family. Now, a number of B&Bs are being taken over by families who have no intention of leaving.

In a side effect of the real-estate boom, scores of traditional bed and breakfasts are closing down as new buyers turn them back into private residences. Behind the vanishing inns is a simple equation: Many B&Bs are worth more as properties than as businesses. And with the real-estate market showing signs of softening, innkeepers now have an immediate incentive to sell out and reap a windfall. Rising interest rates have also made it more difficult for innkeepers to pay the monthly mortgage and still turn a profit by renting rooms to weekenders.

As a result, many operators have served their last apple pancake. In Lenox, Mass., tree-lined Cliffwood Street has one B&B, down from three in the late 1990s. In Cape May, N.J., the owner of the Columns by the Sea turned her beachfront B&B into separate condominiums she’s selling for up to $1.5 million. In Aspen, Colo., the owners of the Sardy House converted the inn into a six-bedroom single-family home, now on the market for $20 million. (The property also comes with a townhouse and an eight-bedroom carriage house.) In late 2003, the owners of Mount Misery Bed & Breakfast in St. Michaels, Md., decided it wouldn’t be much use wooing would-be innkeepers, so they marketed it as a private home. It sold, for $1.5 million, to Secretary of Defense Donald Rumsfeld.

Photo by BURИBLUE.

   

Related Businesses in the Directory

Related Posts

Related Resources

Today's Posts