Category: News

Securing finance can be more challenging if you are planning to open an independent hotel. Chains naturally find it easier because they are established and seen as a more secure bet. This may not always be the case, but lenders can get swayed by plans that are backed by a large brand. When you want to open your own hotel, B&B or guest house, you’ll need to work harder to get loans, but it is certainly possible to do so. Continue reading “Financing an independent hotel”

Many people choose to purchase a property with the specific intention of opening a bed and breakfast, but others choose to transform their existing property into a B&B in order to open up their spare rooms to paying guests. Continue reading “Converting your property into a B&B”

We are often asked about the difference between a bed and breakfast, a guest house and a hotel. Broadly speaking, a bed and breakfasts and guest houses are traditionally homes which have been converted into a business, often family run, and the owners will often live there. A guest house tends to be larger than a bed and breakfast. A hotel is usually larger, purpose built, will include more amenities and facilities, and will have a team of employed staff. Continue reading “The different forms of accommodation businesses”

Even now, when the economy is experiencing sustained growth, businesses may run into difficulties which mean they are unable to fulfil their financial obligations. When a business runs into such a situation, it’s not necessarily an indication of a fault in the business plan or financial model. All too often, it’s unforeseen and unavoidable sources which have caused financial or liquidity issues. In recent times, it has regrettably been the financial institutions such as lenders and mortgage providers that rely on successful businesses that have caused the most damage. Whilst the PPI scandal has already been well documented, less coverage has been given so far to the harm caused by the mis-selling of fixed rate loans. Continue reading “When good businesses are unfairly punished”

Research carried out by the UK’s Business Innovation and Skills shows that 71% of businesses in need of a loan will only approach one provider, and will not approach another lender if they are turned down. There are various factors that contribute to the failure to try another source. If a business owner is refused a loan, they may assume that all other lenders will also refuse their application. However, the fact is that other lenders may have alternative lending and risk criteria which means that the outcome of an application cannot be accurately predicted. Furthermore, many business owners are unaware of the alternatives that are available to them following refusal from their bank. Continue reading “Release the value of your business with specialist lending”

Owning and operating a guest house can be very costly but there is a good chance of making a great income from it. The upfront expenses will be the highest, especially if you need to buy and develop a property. You’ll also need to apply for a change of use from residential to commercial. If you are going to alter the property you could require planning permission. At the end of the day you’ll need to pay business rates and other fees too. The costs can easily add up but if you run the business yourself and get good occupancy you can make a nice income. Continue reading “You’ll need a lot of funds to start a guest house”

Should you find yourself swamped by the financial obligations of your business, one potential option is to refinance. This can help you to attain a more favourable deal with your mortgage and financial commitments and relieve the pressures on your company. As specialists in bed and breakfast finance and mortgages, we can help you to refinance your business and secure a brand new deal that you will, hopefully, find a lot easier to manage. Continue reading “Refinancing your business and why it may be advantageous”

The UK has a thriving tourism sector and welcomes millions of visitors every year from all over the world. As a result, the accommodation industry is very large and diverse, encompassing bed and breakfasts, budget hotels, hostels, luxury hotels and many other options. There are accommodations to suit all kinds of requirements in terms of price, facilities and location. Continue reading “Are you thinking of getting into the B&B industry?”

Business owners may find that they need extra money for a variety of reasons. They may be in the process of purchasing another business to expand their empire, they may require a new premises for relocation, or they may need to pay off bills. Whatever the reason, when a business needs extra funding, it needs to borrow that money from a source that it can trust. At Stewart Hindley, we assist our clients with hotel finance, bed and breakfast mortgages and many other financial topics, finding the right lenders and helping to provide them with that much needed injection of additional cash. Continue reading “Finding specialist lending for the hospitality, leisure and care sectors”

Once you achieve your goal of setting up a hospitality establishment, it is important to acquire high quality and trusted accountants. We offer specialised accountancy services to help our clients every step of the way, providing professional financial forecasting and supporting them with every aspect of their finances. Continue reading “Supporting you through business setup and beyond”