Visit the Bed & Breakfast Innkeepers of Colorado website which includes traveler information and lists properties for sale of interest to aspiring innkeepers.
“For those who may be looking to open their own B&B, this is an opportunity to find information about purchasing inn properties who are approved members of the association and also meet the association standards for guest service and safety”, said BBIC President Sallie Clark. “For existing inns who are not yet members of the Bed & Breakfast Innkeepers of Colorado association, this offers an opportunity to join the association and receive a complimentary listing on the Inns For Sale webpage”, she added.
Pikes Peak Paradise in Woodland Park, CO:
Pikes Peak Paradise is a property with views of Pikes Peak. The bed & breakfast is surrounded by a million acres of Pike National Forest only three miles to the Town of Woodland Park with local restaurants and activities. Pikes Peak Paradise has been renovated and redecorated in a boutique-style bed and breakfast theme with imported euro modern furnishings and fine art collection. The five updated suites include new 1,200 thread-count linens, down pillows, down comforters, duvet covers, Egyptian cotton towels, and Spa Robes. All suites offer WiFi, Flat Screens, CD/DVD Players, music and over 1,000 DVD movies. Recent upgrades include a new GAF Grand Sequoia Armor Shield Class 4 Hail Resistant Roof, James Hardie Hardibacker Concrete Siding and a Viessmann Thermal Solar System. For additional information, visit: https://www.innsofcolorado.org/member-services/#inns-for-sale
Gable House Bed & Breakfast in Durango, CO:
Located on a corner lot within walking distance of downtown Durango and many local shops and restaurants, The Gable House offers a long history. Built in 1892, the mansion served as a private home, hospital, and is now a Bed and Breakfast with top reviews on Tripadvisor and Google. Within the 6,905 square foot home, there are original details preserved alongside modern amenities. Although there are eight traditional bedrooms, the home has expansion potential, as well as features seven parking spaces, convenient off-street parking, and a 3-bedroom carriage house. This property is an opportunity to provide the Durango lifestyle and a historical home. The Gable House is listed with Legacy Properties West Sotheby’s International Realty. For more information, visit: https://www.innsofcolorado.org/member-services/#inns-for-sale
Tips for Aspiring Innkeepers considering a purchase of a bed and breakfast property:
1. Research-Research-Research (a key to your future success)
2. Stay in B&Bs and make notes, talk to innkeepers, take aspiring innkeeper courses, read books and gain an understanding of the business/personal side of the innkeeping profession.
3. As conditions of the sale, review Profit and Loss statements and tax returns, ensure that past guest lists and collateral materials are included with the sale as well as the property’s website (URL, email addresses, photo and content rights). Ensure that any outstanding gift certificates for future stays and guest deposits are included as liabilities. Work with a real estate professional that is familiar with the bed and breakfast industry.
4. Receive a list of the inn’s current online and print directory advertising to assure that the inn has maintained memberships in professional associations and paid listings.
5. Research the reputation of the property through review websites such as Tripadvisor, Google, Yelp and others, while assessing the physical and advertising improvements that may be needed for future financial viability.
6. Check the legal operating status of the property including zoning, liquor permits, food service or other required local and state approvals/licenses to operate a bed and breakfast. Make sure that a transfer of ownership is included in the local zoning approval as part of the condition of sale.
7. Request information regarding business liability insurance and fire/content insurance including up to date claims records.