4 rules for investing in resort suites
Today, more and more number of people are traveling and in need of accommodation. The World Travel and Tourism Council calculated that tourism generated ?16.91 lakh crore (US$240 billion) or 9.2% of India's GDP in 2018. This proves that it’s the perfect time to plunge into the hospitality industry and make the most out of it. And investing in a hotel room is one of the easiest ways to enter this flourishing industry. You don’t need a mammoth of capital investment because you’re not building a resort of buying a hotel. Based on your budget, you can simply invest in one or more resort suites. The benefits are twofold: You not only enjoy the returns but you also own a holiday suite for yourself and your family. Plus you don’t have to handle the hassles of managing a hotel. The management worries rest on the shoulders of the company managing the hotel.
Investing in a resort suite could get as lucrative as it sounds. But there are some key aspects you should keep in mind before investing in one. You can consider the below points as the rules for investing in resort suites:
Resort destination in Goa: One of the most important factors that decide the value of a property is the location where it dwells. For a resort, a location that is surrounded by the beauty of nature is loved by many. It should also be in or close to a tourist spot, which determines that the location will always have an influx of tourists. It’s good to invest in a location that is developing rather than one that is already developed. Because the cost of ownership is comparatively less and there’s enough scope for the property price to appreciate in the future.
Type of resort: The features of the resort will matter a lot in the coming years. Midscale resorts with limited features will struggle during economic downturns. Whereas luxury resorts with modern amenities will stand the test of time. Today, people are technologically advanced and look forward to amenities that make their life easier. Hence, it is advisable to choose properties with smart features since they will have an edge over others.
Know the average returns: Before you invest in a hotel suite, know the tentative returns you could get in the future. The initial years after investing in a resort is very critical. To enjoy peace of mind, it's better to choose an investment that offers assured returns right at the beginning, at least for a certain number of years.
Plan your budget: It's always good to have a budget planned for your investment so that you don't go overboard. It's important to choose an investment that fits your budget. While investing in a resort suite, make sure that the investment is also catering to your leisure needs. This way you would enjoy the best of both worlds.
If you're looking to invest in hotel rooms/resort suites in Goa, Villas in Goa or around it, do check out Axis Blues in Dodamarg, located north of Goa. When you own a resort key at Axis Blues, you get assured monthly rentals of Rs. 20,000 for the first three years. Apart from monthly returns, you also get 24 days of holiday every year for your family. You could also gift these holidays or some of it to your friends or relatives & earn appreciation too.