Have you ever wondered if hotel owners live in the hotels they own?
If you’re short on time, here’s a quick answer to your question: It depends on the hotel owner and the type of hotel.
In this article, we’ll explore the different types of hotel owners and their living situations, as well as the pros and cons of living in a hotel.
Whether you’re a hotel owner or just curious, read on to find out more.
Types of Hotel Owners
Hotel ownership can take on various forms. Some owners may choose to live on the premises while others may not. In this article, we’ll explore the different types of hotel owners and their living arrangements.
Independent hotel owners
Independent hotel owners are individuals who own and operate their own hotel without any affiliations to a larger brand or chain. As the sole owner, they have complete control over the hotel’s operations, including whether or not they choose to live on the premises. Some independent hotel owners may choose to live in an apartment or suite within the hotel, while others may live offsite.
According to a survey conducted by the American Hotel & Lodging Association, 51% of independent hoteliers live on the premises. This can be beneficial for the hotel as it allows for easier communication and quicker response times in case of emergencies.
Chain hotel owners
Chain hotel owners are individuals or companies that own multiple hotels under the same brand. These hotels are typically managed by a third-party management company or the brand itself. Chain hotel owners may or may not live on the premises, as it depends on the specific management structure in place.
While some chain hotel owners may choose to live in one of their properties, it is more common for them to have a centralized office where they oversee the operations of all their hotels. This allows them to have a broader view of their business and make strategic decisions for all their properties.
Franchise hotel owners
Franchise hotel owners are individuals who own a hotel that is affiliated with a larger brand, but they operate independently. These owners typically pay a fee to the brand in exchange for the right to use their name and resources. Similar to chain hotel owners, franchise hotel owners may or may not live on the premises.
Some franchise hotel owners may choose to live in one of their hotels, while others may live offsite. According to a survey conducted by Franchise Business Review, 32% of franchisees live within 20 miles of their business, while 23% live more than 50 miles away.
|Type of Hotel Owner||Percentage that Live on Premises|
|Independent hotel owners||51%|
|Chain hotel owners||Varies|
|Franchise hotel owners||Varies|
Living in the Hotel
As a hotel owner, one of the questions that you may get asked is whether you live in the hotel. While some hotel owners choose to live in their hotels, others prefer to live off-site. In this article, we will explore the pros and cons of living in a hotel, as well as some examples of hotel owners who have chosen to make their hotels their homes.
Pros of Living in the Hotel
- Convenience: One of the primary benefits of living in a hotel is the convenience. As a hotel owner, you are always on-call, and living on the property means that you are always available to address any issues that may arise.
- Cost Savings: Depending on the location of your hotel, living on-site can be a cost-effective option. In some cases, hotel owners may be able to negotiate a reduced rate or even live in the hotel for free as part of their compensation package.
- Security: Living on-site can provide an added layer of security for both the hotel owner and the guests. As a resident, you can keep an eye on the property and ensure that everything is running smoothly.
Cons of Living in the Hotel
- Lack of Privacy: Living in a hotel means that you are always surrounded by guests. This can be a challenge if you value your privacy.
- Noisy Environment: Hotels can be noisy places, especially if there are events or parties taking place on the property. If you are someone who values peace and quiet, living in a hotel may not be the best option.
- No Separation between Work and Personal Life: When you live in the hotel, it can be difficult to separate your work life from your personal life. This can lead to burnout and added stress.
Examples of Hotel Owners who Live in their Hotels
While not all hotel owners choose to live on-site, there are many who do. Some notable examples include:
|The Plaza Hotel||Tilman Fertitta|
|The Ritz-Carlton, Boston||Horst Schulze|
|The Beverly Hills Hotel||Doronin Vladislav|
Living in a hotel can be a unique and rewarding experience for some hotel owners. Whether or not you choose to live on-site, it is important to weigh the pros and cons and make a decision that is in line with your personal and professional goals.
Alternatives to Living in the Hotel
Renting a nearby apartment or house
While some hotel owners may choose to live on the property, others opt to rent a nearby apartment or house. This allows them to have a separate living space while still being close to their hotel. Renting a nearby property can also provide more privacy for the owner and their family.
Renting a property can also be a more cost-effective option than living in a hotel, especially if the owner is staying in a high-end hotel. The cost of renting an apartment or house may be significantly lower than the cost of a nightly hotel stay.
Owning a second home
Another alternative to living in a hotel is owning a second home. This can provide the owner with a permanent residence that they can visit when they are not at their hotel. Owning a second home can also provide the owner with a sense of stability and a place to call their own.
While owning a second home can be expensive, it can also be a smart investment. The owner can rent out the property when they are not using it, providing an additional source of income.
Staying in the hotel as a guest
Finally, some hotel owners choose to stay in their own hotel as a guest. This can provide the owner with the opportunity to experience their hotel from the perspective of a guest. It can also allow the owner to interact with their guests and better understand their needs and preferences.
Staying in the hotel as a guest can also be a cost-effective option for the owner. Many hotels offer discounts or perks for owners who stay in their own property.
|Renting a nearby property||Owning a second home||Staying in the hotel as a guest|
|Cost||Lower than hotel stay||Expensive||Discounts or perks may be available|
|Privacy||More privacy||More privacy||Less privacy|
Overall, there are multiple alternatives to living in a hotel for hotel owners. Renting a nearby property, owning a second home, and staying in the hotel as a guest all have their own benefits and drawbacks. The choice ultimately depends on the owner’s personal preferences, budget, and lifestyle.
As we’ve seen, whether or not a hotel owner lives in their hotel depends on the type of hotel and the owner’s personal preference.
While there are certainly benefits to living in a hotel, such as convenience and cost savings, there are also drawbacks to consider, such as lack of privacy and the challenge of separating work and personal life.
Ultimately, the decision to live in a hotel is a personal one that each hotel owner must make based on their own circumstances and priorities.