Hey everyone, did some digging and didn't see any posts dedicated to this, so I figured I'd gather some insight. I'm currently in hospitality management for a third party company (we franchise major brands) and have my sights set on opening my own property. Although I'm gaining experience in the fundamentals of hospitality (P&Ls, OTAs, Revenue Mgmt, etc.), I would ultimately like to apply this to a smaller, more intimate setting. Case in point, a hostel or boutique hotel. I see great value in the immersive, personally tailored environment that either can provide.
I'm wondering what the pros & cons of either would be from an owner's standpoint. Some of the major facets being capital expenditures, target markets, seasonal volatility, and, of course, return on investment. I've heard of some instances where hostel owners switch to a boutique hotel model, which sparked my curiosity. There seems to a rise in boutique hostels... maybe the middle ground is really the high ground? Any one have any experience on the matter or speculations? Any insight is welcome! :)