There has been a sharp rise in the number of private family hoteliers seeking a new management option for their property, as they struggle to attract the next generation into the business.
Hotel management company Fiveways Hospitality has seen an increase of 25% in enquiries for hoteliers in the first few weeks of 2018, who are interested in hearing about the options when it comes to handing over the reins of the day to day management of their properties.
The Birmingham-based company say that the owners of family-run hotels still want to keep their asset and benefit from a regular income but see somebody else come in to takeover the management.
Robin Ford, operations director at Fiveways Hospitality, manages Park Regis and nitenite hotels in Birmingham, Holiday Inn Express in South Birmingham and Knowsley, and Pelham House, Lewes.
He said: “Already in January we’ve seen a marked rise in the number of second and third generation hoteliers who are reluctant to sell the business they have helped to build up over decades, but because their children have pursued careers in other sectors and have no desire to run the family hotel, they are left with difficult choices.
“It’s impossible to say why 2018 already seems to be a year when people are looking to make changes, perhaps they are challenging the general feeling of uncertainty that has gripped the nation recently, and are deciding to make their own big decisions.”