Selling your motel or accommodation business requires careful preparation to achieve the best outcome. Here are five essential tips to get your business market-ready:

1. Ensure compliance and licences are up to date

Before listing your property, confirm that all compliance requirements and licences are current. Buyers will expect documentation showing your business meets industry and regulatory standards.

Key areas to address include:

Pool safety certification.

Fire compliance (e.g., extinguishers, exit signage, and alarms).

Electrical tagging and testing.

Food and liquor licences (if applicable).

Proactively addressing these items streamlines the sale process and reassures buyers of your property’s operational readiness.

2. Reflect on your original purchase motivations

Think back to why you originally bought the property. What stood out to you? Was it the location, guest demographics, amenities, or unique selling points? These insights may not be obvious to others but can help craft a compelling narrative. Share these points of difference with your sales team to highlight features that are likely to resonate with prospective buyers.

3. Highlight “highest and best use” potential

If your property has unique characteristics or untapped potential, consider obtaining a professional valuation focused on its “highest and best use” (HBU). This approach goes beyond standard profit and yield analyses, factoring in:

Development opportunities.

Value of additional land holdings.

Future market trends.

A well-prepared valuation helps justify your asking price and attracts buyers who see the long-term potential of your property.

4. Work with industry professionals

The interpretation of profit and loss (P&L) statements in the accommodation industry can vary. Industry professionals, such as accountants or consultants specialising in accommodation businesses, can:

Ensure your financial statements are accurate and appealing to buyers.

Identify ways to optimise profitability before the sale.

Help address buyer inquiries with confidence.

Their expertise makes your business more attractive and minimises roadblocks during negotiations.

5. Engage a trusted broker early

Choosing the right broker is one of the most important decisions you’ll make. Look for someone who:

Has experience in the accommodation industry.

Understands your local town or region.

Has a proven track record of successful sales.

Building a relationship with your broker early allows them to gain a deep understanding of your business and develop a tailored marketing strategy. A knowledgeable and trusted broker can guide you through the entire process, from setting the right price to closing the deal.