Small Hotel in Coastal Resort

Hi from the sound of it, yes, sounds viable. But you need a lot more information and help.

Why is the seller selling? I keep seeing shoestring operations and businesses who should have died years ago but their owners keep hanging in there.

I had a friend who was on the money end of some of Waikiki, Hawaii's most successful nightclubs.  He semi-retired to a consulting business.  He told me that one of his recurrent problems was people who wanted to open a restaurant because "My wife is a great cook."  Be sure that some of that is not at play here.  A similar syndrome is people who want to open a bar because they like to hang out in bars.  A small hotel near the beach could seem like a paradise of semi-retirement but it could turn into a lot of work fast.

I have a few questions and observations for the OP.

1) Do you have a Vietnamese spouse or partner who will be at least the nominal owner of the business?  If not, you are facing steep governmental headwinds.

2) Are you prepared to work 24/7/365?  There is not a single day, night, or holiday off in the hotel business at that scale.  The only thing possibly worse is milking cows on a family farm.  If you do have a spouse, you may be able to take vacations but you will never again take one together.  When everyone else is on Tet holiday, you will be desperately trying to maximize your income.   It may seem like a home/hotel at first but it could end up feeling like a prison.

3)  Are you prepared to see the worst in your customers and still smile at them?   Are you ready to smile when they trash their room?  Are you ready to smile when they complain at 2 AM that the WiFi is not working?  The list goes on.

Great idea. And could be a good life style.  .thiv,s responce is most accurate. Especialy point numbered  1.   Looks like youve traveled around so is interesting to know why you have focused on Vietnam.  From what I gather Viet is one of the most dificult country's for  an expat to do business.   You would probeble need a rock solid local partner.  Not just for legal reasons but to ease your heavy work load. Time wise.  Having enough capital to see you through is very important. Generly speaking if you can creat your own market to western country's to the right demographics  specialising  in a specific market might be easier than trying to compete to asians.  Especially if you don't speak they're lingo. Vietnam is becoming the flaver of the month in Australia at present with a lot of shows on tv promoting Viet as the undiscovered destination for Australians. Out doing Bali now as an example.  I have built and operated a 15 bungalow hotel my self in Sth pacific on pohnpei isl in micronesia but so different to Viet ,not comparable.  But I did have a multitude of people telling me I was mad to go ahead with the project but I also had people giving me good advice as well . So take head of THIGV,s advice.  I've heard Cambodia is much easier to set up what you want by the way.  Wish you luck.   Ray.

If you in need of a chef let me know thanks Paul

It's easy to become a millionaire in Vietnam ..when you arrive as billionaire

l3ully wrote:

It's easy to become a millionaire in Vietnam ..when you arrive as billionaire

Heard that statement at the Roof Top Bar at the Rex back in about 1995. They are till true words....

Rick