There are a variety of ways to market hotels with the most preferred being maximum market exposure. The "bidding environment" created by this means, often yields the best result. A minimum amount of information is required to generate interest and significantly more is required for potential purchaser to make educated offers. This includes basic details about the site location, physical structure, Continue Reading about What information about my hotel will be made public and what will be kept confidential?
Selling Questions
How long will it take to sell my hotel?
Sale completion times vary widely due to a number of reasons including but not limited to: geographic region, local market, product type, franchise issues, financing climate and a host of others. Generally from the initial market exposure, the quickest transactions require 90 days but may take months depending on a number of factors. Mumford Company generally suggests at least thirty days on the Continue Reading about How long will it take to sell my hotel?
Who will be working on my listing?
Each seller has primary contact with a specific broker at Mumford Company in order to foster a strong working relationship throughout the process. That a broker may also involve other Mumford Company brokers to assist in market research and property tours and will utilize sales analyst to prepare marketing materials to assist the seller from time to time. Once the property is actively for sale, Continue Reading about Who will be working on my listing?
How will the value of my hotel be determined?
Mumford Company uses a team approach when estimating property value for our clients using our brokers from across the country review all our deals to give a very balanced valuation. We will consider all factors effecting value when pricing a hotel including but not limited to the age, location, and branding possibilities for the property. We will use our collective 150 + years of market experience Continue Reading about How will the value of my hotel be determined?
Does Mumford Company represent both buyers and sellers?
No. While Mumford Company works with both buyers and sellers we only represent the seller in the hotel sales process. A full explanation is found below. AGENCY In compliance with Real Estate Board regulations, parties to transactions involving real estate should understand the unique and valuable role that real estate brokers and their agents play in marketing real estate. That role has been Continue Reading about Does Mumford Company represent both buyers and sellers?
