me too i agree. have to say some english people very good like a natural talent for business. hes not just talking bullshit like most people do. he shows the numbers. numbers dont lie. oh fun fact i not france just to mention long story. but live in asia met very many people from all over the world what i basing my thoughts on.
how has this dude only got this number of subscribers? finally a coach who can prove what he talks about in his own business. As opposed to most who teach business success and their only success is that of their coaching.
I cut his hair for a good while and honestly one of the very few people who has given me good business advice, who doesn’t just talk fairytales and bull shit. Speaks realistic and honest. Great guy too
The experience of convincing someone to invest and then facing a loss reminds us that failure is often a stepping stone to greater opportunities and growth.
This is why I could never go into a business. I was pretty good and hard working (averaged 50 to 60 hour weeks as a contractor most of my working life) but you just have to have that additional spark, energy, desire (not really the love of money) to be in business. I am jealous of people who have that and are successful. It must be so fulfilling and fun to be in that place. Great video.
At least you are honest with yourself. Business making is not for everyone - you need a certain drive. Most just don't want to work for anyone else - that it itself can be a key motivator. I would fall into that category and I've made a reasonably successful business in property rentals. Came at a cost though.
the difference between this guy and being a contractor is that this guy pays other people to do the work, whilst you actually do the work. he has lots of free time to do what he wants. i mean he has enough free time to run a youtube channel as well as all his businesses. going into business can be hard work at the start, as you try to make ends meet. but once you create a bubble of income and pay off your inevitable debts, you're the freest man on earth. i worked for a business owner in a restaurant. he was the most depressing and serious individual i ever met. it was difficult to get a word out of him and id only see him occasionally. yet he was successful and now he owns one of the most popular restaurants in the region which won several awards. there's no personality requirement for going into business. you don't need to be a certain "type" or be lucky. all you need is a bit of capital and then pick one of the many ways of making money through business and get started. what stops people is not any other reason than the fear of losing. what will your friends and family think of you if you waste tens or hundreds of thousands of pounds on a failed business? it takes some amount of work to make enough capital to start a business. after all that effort, its hard to convince yourself that losing it wont bother you too much if you tried to start a business. but the ability to stop caring and just doing it is the only thing that separates those who do and those who don't.
Hey James, really good video and thank you for sharing. I run a 70 cover pub and we do very well from it, we turn it 3 or 4 times over on a Saturday and Sunday. I wouldn’t get too obsessed by expanding the covers, our place is cosy and always looks full! We do 80-100k each month depending on month of the year
Also worth mentioning, we have two great chefs. I never know who has cooked what because the quality is so good from either. You can’t have an A and B team if you know what I mean
James - Watch the videos. Now living in Dubai for last 7 years. You used to do my kids' parties, which were absolutely brilliant. I still tell people about the things you used to do with the parents. Brilliant. Coming back for a few weeks and seeing a friend in maldon, so naturally, I would spend my money at your hotel. Also booked direct, so didn't lose the 15/30% 😂. Good luck to you. James.
@JamesSinclairEntrepreneur Hahaha. I used to enjoy the parties more than the kids. You were absolutely brilliant. Billericay mate. Our little circle of friends always had you over for various venues. And then we used to come to party man world in basildon. Super fun days when kids were young. Lovely to see you have done so well. So refreshing. Wishing you all the best.
Good video. I am a GM of a high end 15m - year turnover hotel. One thing I found out is that it’s pointless fighting the OTAs. They are a tool to be used to boost ADR. That could be quiet times or busy times depending on your revenue strategy.
As an ex hotelier I love to see these videos. Maldon has a high street full of restaurants now so it's a very competitive market. The joint venture idea is good but also problematic as you need to make sure the relationship is strong. Also the deal has to be very win win with the deal slightly favouring the other party. They're taking the higher risk and venues that strike to hard a deal lose in the medium term if the restaurant can't make money. Love what you've done with the rooms, keeping it individual is important for this type of property.
@@MrTj145 There is no captured market for a hotel restaurant unless it is in the middle of nowhere or a restaurant with rooms. This hotel is on Maldon High Street with at least 10-12 good eating options with 100 meters of it's front door. The hotel has 15 odd rooms so max 30 people capacity. Let's say there is a sleeper diner ratio of 20% (that would be good for a hotel with this level of restaurant competition) that's 6 covers. So you have to come up with a restaurant concept that will draw in the general public. This is doable but would need a direct entrance to the restaurant and a big investment in fitting out the restaurant along with a successful concept. It is not in any way easy.
First video of yours I’ve seen and I’m so impressed. Extremely informative, truthful and nothing glossy or for effect. New subscriber & will watch plenty more of your videos so please keep up the great work James!😄
Same here. I like listening and learning from him. He is a very smart businessman. I would like to know how much time he spends each day on business rather than other family and hobby persuits. Many successful business people pretty much live business 24 hours a day. You might get financial rewards from this but it comes with heavy costs socially and family wise.
You are a bombshell of passion for that business, you can tell that immediately. And THAT is where profit is made. You care for the end consumer. A lot of businesses start to make cash. The faster the better. Not understanding cash is a result of uplifting the experience for the customer. Many great product have gone into utter garbage by the support you get when it goes wrong. Especially in the hospitality sector, your smile and care translates into cash.
Going to show my age now, I loved the series on telly where John Harvey Jones went to businesses and suggested ways they could improve them (80's). More recently, I love Alex Polizzi's Hotel Inspector series (how does she put up with some of the owners). And now, I've found you. I'm retired now, but I find this stuff interesting and you do a good job and hopefully improve others businesses. Great stuff!
Incredible, incredible value. I cannot believe this is shared for free. I remember interning for a person for free for a month to get a fraction of that information!!!!
Love the excitement and clarity of your presentation. As a real estate investor - over 30 yrs residential and commercial - I do not love the numbers, especially for a business that requires such constant presence.
This is incredible content James, I watch these videos obsessively alongside your podcast. My business has exploded since I started following you a few years ago.
Love the transparency and unique inside look you gave us! Would love to see more of these type of videos, very interesting and refreshing hearing your ethos on things
I have no interest in hotel business, I am in the software engineering profession. But analysing the business in this way and your points are intriguing.
James you seem like the kind of guy who could sell ice to an Eskimo. Love your positivity and drive. Great video and excellent explanation of the numbers in the hotel business. Subscribed.
Genuinely really interesting video, not anything I’m ever interested in doing but a great insight into the business and your future business strategic thoughts
Generally peoples knowledge runs narrow and deep or wide and shallow. Your deep knowledge across such a broad section of business is definitely impressive.
I admire your complete enthusiasm for the whole concept of owning a hotel. Fantastic knowledge of every aspect of owning a massive commitment. I personally own nothing I had a house for rent for years that I owned outright. I sold it and moved to Thailand had three kids and my wife left me with the children. I lost land and the house and now rent a beautiful condo with my children. No it's not a sad story it's the realization of letting go owning nothing is a much happier life the stress has gone and the shit I had owning land in Thailand was unbelievable. In a word less is definitely more for me anyway. Great video to the real life owner.
It's too late now but number 1 rule for anyone going out there is not to buy property. Invest your money elsewhere to pay the rent on a place out there.
Fascinating video. I was in restaurants and hotels for many years and I think it's never been a tougher time to run an independent hotel. It would've been interesting to see the occupancy rates and REVPAR numbers. A good booking engine in-house is essential to get rates right well in advance. I can't think of anything more expensive than moving and refitting a commercial kitchen... Is there much garden space? Or Function room? The Wedding business is thriving and is very lucrative particulary if you package together rooms, ceremony, food and beverage.
£80 a night for a single is a price I would pay. Though not sure I'd have any reason to visit Maldon. Didn't even know where it was until I looked it up. But there are several things that are a priority to me before looking at decoration. 1. Is easy parking available if I arrive by car. 2. Is the room secure. Can I leave my valuables inside without them getting knicked. 3. Peace and quiet. Can I hear the TV from the room above me? When working in London I preferred the cheaper Travelodge to Premier Inn. Travelodge was full of workmen who went to bed early. PI was full of noisy tourists and foreign students up until 3am. The room at one PI overlooked the smoking area of a nightclub. 4. First thing I want at the end of a journey is a few beers.
The issue with hotels is seasonal demand, unless you happen to be a near a business which needs contractors on a regular basis who need to overnight as this will provide a steady income stream.
He's a businessman. Even if he was to do that his first step would be to hire someone to do it for him. It's not worth spending the hours it would take for such a measly return.
I have been in the hotel business 40 years. Size is important but also location needs to be good. The aim is to maximize prices and maximise occupancy through the year.
Sitting in my friend's large Bali home on the Beach. It is a private home and also super-premium high end Air BnB. The challenge of this dream home is the refurbishment cost (and effort) in a tropical climate.
I had a high-class restaurant in 1983 that sold in 2006 and did very well. Those were the hay days of hospitality. Glad I'm out of it now - Good Luck James
Nice to see the numbers, I definitely would like to see an update going forward, surprised by the drink sales, hopefully that will increase threefold with opening the restaurant
That was captivating, and from a young man. Black marker persisted on the hand, so was done in one take. I don't think the director dared to interrupt. All critical aspects well thought through. Loads of energy and intelligence. Might be difficult to work for, but will certainly be very successful; more than he already is. Should stop smoking to longer reap the benefits. I love this thorough well planned approach. But as a middle-manager in a multinational, I am forced to do things in a clearly unproductive client opposed way. I hate it, but I bury the anguish with a side hustle.
Really a fantastic video so nice to see how other types of businesses work. Had no idea such a big hotel would have such a small monthly profit margin. This guy is great and so attractive.
Hey you blamed booking and etc but I check the hotels own booking too but then I choose whichever is the cheapest and most of the time it is booking. And the cost difference happens to be a lot.
Greetings Mr Sinclair 😃 1st & foremost I hope that you and the family are all fine & well 🙏🏾 As always brilliant video. Keep up the good work, as we all know you totally enjoy it 😉 You & the family have a very blessed weekend whatever you do 🙏🏾
@@JamesSinclairEntrepreneur yes which will be a mix of doing it ourselves for the donkey work and a skilled worker on day rate working with us so we can set the pace. This property is lower end though and will be rented out at £75 a night aimed more at builders in the week and stag do types at the weekend. Cheap and cheerful.
Amazing insight, thank you so much for sharing. I am in year 5 of my little business. Made a good little bit of Monday, but I feel I am at 10% capacity and I am trying to find something new to work on/add to my workload. Really struggling to find something new
Loving your videos. Every 18yr old should be taught this stuff..how business should work. The brighter ones will take the knowledge and stroll into the world full of inspirstion, eagerness and ideas. If they don't then at least they've understood the nuts and bolts of what theiir future employers are up against, what creates jobs, what the risks are, why teamwork and multiskilling are vital... and why - whatever role they are in - they are a vital part of the business.
Really interesting video James. Thanks for being so up-front with the management accounts and how you plan to invest in the hotel. Just subscribed to your channel. I think you you deserve more viewers and subscribers. I would love to own my own hotel. Currently I just own residential BTL properties. Where was your hotel in Maldon advertised for sale? Is it better to start on a smaller scale like a coffee shop or commercial let? I feel I can learn so much from you.
Great analysis, James! Hotels are fantastic businesses to own if done under the right structure, just like your freehold, which gives you more control compared to a leasehold AND with the right room count. They do still need to be managed carefully, otherwise CAPEX, staffing costs, utilities, distribution costs, and food supplies will eat your margin, or worse. It's a 24/7 business with high fixed costs and not for the fainthearted, but properly managed can achieve a healthy margin (particularly when occupancy hits over a certain threshold!). Your property must be getting good reviews by customers spending so much on drinks! Would love to learn more about your hotel over a call. Bertran from XpertHost
Some years back I was part of a team working on the economic development plan for an area in the West Highlands. We had a top hotel consultant on the team, and it was an education. According to him, around 80% of the hospitality businesses in the area would never be more than marginal - simply because they were too small. Dozens of owners had invested their savings in a doomed business because they hadn't done their basic due diligence on the hotel business model that James outlines here.
@James, it would be great if you can compare your average income and operating cost, to the best months, and to the worst months. It will provide an idea on how the business in run. Also thanks for sharing your spreadsheet. A lot of youtubers talk but with no evidence to show, and hype the type of business they are flogging.
Hotels confuse me. Why would I pay over £100 for a nights sleep in a bed ? You perhaps spend an hour before going to bed and a couple of hours after getting up. Then you leave the hotel to go and do what you intended doing. So, the hotel may be 'nice' - expensive carpets, furniture, artworks. Well dressed staff etc. So what ? UK hotels are crazy prices.
I went to Belfast for treatment from dublin. Needed safe quiet room for one day. Payed £230 for 1 night as cheapest option. Not me, but thete is plenty of ppl with money and plenty of reasons they need temp. accomodation...
Very curious why hotels never offer lower prices than whats on Booking/Expedia etc. if they're taking such a huge chunk. I would happily book direct if there was only a 10% discount or a free breakfast. Is there a reason this doesn't happen? Do these platforms force you to not offer cheaper prices directly?
Quite like your style, authentic, no hype. And no annoying music
Why thank you.
me too i agree. have to say some english people very good like a natural talent for business. hes not just talking bullshit like most people do. he shows the numbers. numbers dont lie. oh fun fact i not france just to mention long story. but live in asia met very many people from all over the world what i basing my thoughts on.
Upvoted just for showing your numbers.
Most valuable, yet no one does it.
every public company does it
@ No one was talking about them.
Unless audited who cares
Same
@@JoyceSin-w5k Most statements in life aren’t audited.
Yours, for instance.
how has this dude only got this number of subscribers? finally a coach who can prove what he talks about in his own business. As opposed to most who teach business success and their only success is that of their coaching.
I cut his hair for a good while and honestly one of the very few people who has given me good business advice, who doesn’t just talk fairytales and bull shit. Speaks realistic and honest. Great guy too
True !..."Those who can, do. Those who can't, teach"..!!
@@mattclark7700 totally agree, you can tell this content is different to the rest
The experience of convincing someone to invest and then facing a loss reminds us that failure is often a stepping stone to greater opportunities and growth.
Assets that can make one successful in life
I. Crypto
2. Stocks
3. forex
You're right
But I didn't know why people remain poor due to ignorance
You're so right, Investing in crypto now is the best thing to do especially with the current rise in the market
people are really making a lot of money from it... therefore investing in it wouldn't be a bad idea 💡
speaking of crypto trading I know I am blessed if not I wouldn't have met someone who is as spectacular as expert Caitlin albrecht
This is why I could never go into a business. I was pretty good and hard working (averaged 50 to 60 hour weeks as a contractor most of my working life) but you just have to have that additional spark, energy, desire (not really the love of money) to be in business. I am jealous of people who have that and are successful. It must be so fulfilling and fun to be in that place. Great video.
At least you are honest with yourself. Business making is not for everyone - you need a certain drive. Most just don't want to work for anyone else - that it itself can be a key motivator. I would fall into that category and I've made a reasonably successful business in property rentals. Came at a cost though.
Just buy the SPY and chill
You saved yourself a million dollars for knowing this. Congratulations!
the difference between this guy and being a contractor is that this guy pays other people to do the work, whilst you actually do the work. he has lots of free time to do what he wants. i mean he has enough free time to run a youtube channel as well as all his businesses. going into business can be hard work at the start, as you try to make ends meet. but once you create a bubble of income and pay off your inevitable debts, you're the freest man on earth. i worked for a business owner in a restaurant. he was the most depressing and serious individual i ever met. it was difficult to get a word out of him and id only see him occasionally. yet he was successful and now he owns one of the most popular restaurants in the region which won several awards.
there's no personality requirement for going into business. you don't need to be a certain "type" or be lucky. all you need is a bit of capital and then pick one of the many ways of making money through business and get started. what stops people is not any other reason than the fear of losing. what will your friends and family think of you if you waste tens or hundreds of thousands of pounds on a failed business?
it takes some amount of work to make enough capital to start a business. after all that effort, its hard to convince yourself that losing it wont bother you too much if you tried to start a business. but the ability to stop caring and just doing it is the only thing that separates those who do and those who don't.
@@jmoz that's awful advice.
Hey James, really good video and thank you for sharing. I run a 70 cover pub and we do very well from it, we turn it 3 or 4 times over on a Saturday and Sunday. I wouldn’t get too obsessed by expanding the covers, our place is cosy and always looks full! We do 80-100k each month depending on month of the year
Also worth mentioning, we have two great chefs. I never know who has cooked what because the quality is so good from either. You can’t have an A and B team if you know what I mean
@@cardiomyopathyandme5970sounds great, what’s the name of your pub?
A lot of corporate hotels have between 210-250 rooms and once the occupancy rate gets above a certain level then the figures start to stack up.
James - Watch the videos. Now living in Dubai for last 7 years. You used to do my kids' parties, which were absolutely brilliant. I still tell people about the things you used to do with the parents. Brilliant. Coming back for a few weeks and seeing a friend in maldon, so naturally, I would spend my money at your hotel. Also booked direct, so didn't lose the 15/30% 😂. Good luck to you. James.
@@JamesBrown-rx8tz best comment ever! Where did I do the parties. Seems a live time ago now!
@JamesSinclairEntrepreneur
Hahaha. I used to enjoy the parties more than the kids. You were absolutely brilliant. Billericay mate. Our little circle of friends always had you over for various venues. And then we used to come to party man world in basildon. Super fun days when kids were young. Lovely to see you have done so well. So refreshing. Wishing you all the best.
Customers are paying the cost of booking platforms it is a business expense like any other expense. 😮
Good video. I am a GM of a high end 15m - year turnover hotel. One thing I found out is that it’s pointless fighting the OTAs. They are a tool to be used to boost ADR. That could be quiet times or busy times depending on your revenue strategy.
Hi, what is OTA ADR?
As an ex hotelier I love to see these videos. Maldon has a high street full of restaurants now so it's a very competitive market. The joint venture idea is good but also problematic as you need to make sure the relationship is strong. Also the deal has to be very win win with the deal slightly favouring the other party. They're taking the higher risk and venues that strike to hard a deal lose in the medium term if the restaurant can't make money. Love what you've done with the rooms, keeping it individual is important for this type of property.
where's the higher risk when they would have access to booking numbers, as well as a captured market?
@@MrTj145 There is no captured market for a hotel restaurant unless it is in the middle of nowhere or a restaurant with rooms. This hotel is on Maldon High Street with at least 10-12 good eating options with 100 meters of it's front door. The hotel has 15 odd rooms so max 30 people capacity. Let's say there is a sleeper diner ratio of 20% (that would be good for a hotel with this level of restaurant competition) that's 6 covers. So you have to come up with a restaurant concept that will draw in the general public. This is doable but would need a direct entrance to the restaurant and a big investment in fitting out the restaurant along with a successful concept. It is not in any way easy.
First video of yours I’ve seen and I’m so impressed. Extremely informative, truthful and nothing glossy or for effect. New subscriber & will watch plenty more of your videos so please keep up the great work James!😄
Have no interest in business or hotels but could watch you all day very smart man. thumbs up and subbed
Same here. I like listening and learning from him. He is a very smart businessman. I would like to know how much time he spends each day on business rather than other family and hobby persuits. Many successful business people pretty much live business 24 hours a day. You might get financial rewards from this but it comes with heavy costs socially and family wise.
You are a bombshell of passion for that business, you can tell that immediately.
And THAT is where profit is made. You care for the end consumer.
A lot of businesses start to make cash. The faster the better. Not understanding cash is a result of uplifting the experience for the customer.
Many great product have gone into utter garbage by the support you get when it goes wrong. Especially in the hospitality sector, your smile and care translates into cash.
Going to show my age now, I loved the series on telly where John Harvey Jones went to businesses and suggested ways they could improve them (80's). More recently, I love Alex Polizzi's Hotel Inspector series (how does she put up with some of the owners). And now, I've found you. I'm retired now, but I find this stuff interesting and you do a good job and hopefully improve others businesses. Great stuff!
Incredible, incredible value. I cannot believe this is shared for free. I remember interning for a person for free for a month to get a fraction of that information!!!!
This video is so incredibly insightful and gives me tonnes of motivation, thanks a lot!
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
Grammar and punctuation is a god send, when people use it
Didn’t even search for this video but glad it popped up, Very enjoyable watch
Love the excitement and clarity of your presentation. As a real estate investor - over 30 yrs residential and commercial - I do not love the numbers, especially for a business that requires such constant presence.
This is incredible content James, I watch these videos obsessively alongside your podcast. My business has exploded since I started following you a few years ago.
@@WintuhLiving well you’ve made my day. Hopefully I’ll see you at one of my seminars in the future!
@@JamesSinclairEntrepreneur sporadic comment replying I see😀
Love the transparency and unique inside look you gave us! Would love to see more of these type of videos, very interesting and refreshing hearing your ethos on things
I have no interest in hotel business, I am in the software engineering profession. But analysing the business in this way and your points are intriguing.
James you seem like the kind of guy who could sell ice to an Eskimo. Love your positivity and drive. Great video and excellent explanation of the numbers in the hotel business. Subscribed.
Genuinely really interesting video, not anything I’m ever interested in doing but a great insight into the business and your future business strategic thoughts
Generally peoples knowledge runs narrow and deep or wide and shallow. Your deep knowledge across such a broad section of business is definitely impressive.
Great to see some real numbers. Not just the old “I’m making 60k a month” guru talk.
I admire your complete enthusiasm for the whole concept of owning a hotel. Fantastic knowledge of every aspect of owning a massive commitment. I personally own nothing I had a house for rent for years that I owned outright. I sold it and moved to Thailand had three kids and my wife left me with the children. I lost land and the house and now rent a beautiful condo with my children. No it's not a sad story it's the realization of letting go owning nothing is a much happier life the stress has gone and the shit I had owning land in Thailand was unbelievable. In a word less is definitely more for me anyway. Great video to the real life owner.
It's too late now but number 1 rule for anyone going out there is not to buy property. Invest your money elsewhere to pay the rent on a place out there.
Fascinating video. I was in restaurants and hotels for many years and I think it's never been a tougher time to run an independent hotel. It would've been interesting to see the occupancy rates and REVPAR numbers. A good booking engine in-house is essential to get rates right well in advance. I can't think of anything more expensive than moving and refitting a commercial kitchen...
Is there much garden space? Or Function room? The Wedding business is thriving and is very lucrative particulary if you package together rooms, ceremony, food and beverage.
£80 a night for a single is a price I would pay. Though not sure I'd have any reason to visit Maldon. Didn't even know where it was until I looked it up. But there are several things that are a priority to me before looking at decoration. 1. Is easy parking available if I arrive by car. 2. Is the room secure. Can I leave my valuables inside without them getting knicked. 3. Peace and quiet. Can I hear the TV from the room above me? When working in London I preferred the cheaper Travelodge to Premier Inn. Travelodge was full of workmen who went to bed early. PI was full of noisy tourists and foreign students up until 3am. The room at one PI overlooked the smoking area of a nightclub. 4. First thing I want at the end of a journey is a few beers.
If I was a hotel owner, I would be taking this comment and using it to better my business, this is gold for anyone in hotels, especially number 3.
Thank you for the breakdown. Excellent work on the hotel and the industry details.
The issue with hotels is seasonal demand, unless you happen to be a near a business which needs contractors on a regular basis who need to overnight as this will provide a steady income stream.
Same here, not intetested in owning a business, just interested how other business owners make money... 👍👏
Thoroughly enjoyable and informative video - I have to admire your transparency
As someone who’s seen the behind the scenes on this from a marketing view, happy to see this video out 🎉
Love the transparency and how you show all the numbers.
I'd love to see a series where you try to start a small business with little money. Maybe a vending machine business etc
He's a businessman. Even if he was to do that his first step would be to hire someone to do it for him. It's not worth spending the hours it would take for such a measly return.
@@MrJeffHead But it would make more relatable content and bring in new audiences
Thanks for the insight James - have stayed in this hotel a few times, great to see it being shown some love.
Came across video, really informative
Clearly 13:45 , you are a successful businessman, but a lovely personality, not a show off or arrogant 😊
Looking very dapper Mr Sinclair!! Great video, love the content on here and on the podcast.
I have been in the hotel business 40 years. Size is important but also location needs to be good. The aim is to maximize prices and maximise occupancy through the year.
Sitting in my friend's large Bali home on the Beach. It is a private home and also super-premium high end Air BnB. The challenge of this dream home is the refurbishment cost (and effort) in a tropical climate.
I had a high-class restaurant in 1983 that sold in 2006 and did very well. Those were the hay days of hospitality. Glad I'm out of it now - Good Luck James
Nice to see the numbers, I definitely would like to see an update going forward, surprised by the drink sales, hopefully that will increase threefold with opening the restaurant
That was captivating, and from a young man. Black marker persisted on the hand, so was done in one take. I don't think the director dared to interrupt. All critical aspects well thought through. Loads of energy and intelligence. Might be difficult to work for, but will certainly be very successful; more than he already is. Should stop smoking to longer reap the benefits. I love this thorough well planned approach. But as a middle-manager in a multinational, I am forced to do things in a clearly unproductive client opposed way. I hate it, but I bury the anguish with a side hustle.
Take the leap of faith! It's not too late!
Great video !! Literally looking at buying a hotel and this was the video I needed, appreciate it James.
I like your energy and motivation, it's infectious ⚡
I like these videos very transparent. You should do a tv series
Really a fantastic video so nice to see how other types of businesses work. Had no idea such a big hotel would have such a small monthly profit margin. This guy is great and so attractive.
Great video, thanks for the transparency
Another excellent video James. Thank you for the transparency of your content and the quality of your delivery. Brilliant stuff!
Hey you blamed booking and etc but I check the hotels own booking too but then I choose whichever is the cheapest and most of the time it is booking. And the cost difference happens to be a lot.
But hey you have changed it. Good for you :)
Appreciate how open you are to figures. Keep up the good work.
Just found your channel. Very entertaining
Just came across your channel- punchy and to the point - love your adrenaline!
Greetings Mr Sinclair 😃 1st & foremost I hope that you and the family are all fine & well 🙏🏾 As always brilliant video. Keep up the good work, as we all know you totally enjoy it 😉 You & the family have a very blessed weekend whatever you do 🙏🏾
Very interesting. I wasn't looking for it, but I enjoyed it a lot. Subscribed.
I love how you mentioned SWOT withy Maslow hierarchy of needs
Wow 20k a room! We are just doing a pub and converting upstairs into 7 letting rooms and have budgeted 5k per room, ours isn’t the ritz though
Are you including Labour?
@@JamesSinclairEntrepreneur yes which will be a mix of doing it ourselves for the donkey work and a skilled worker on day rate working with us so we can set the pace. This property is lower end though and will be rented out at £75 a night aimed more at builders in the week and stag do types at the weekend. Cheap and cheerful.
@@mrjamesmay354875 isn't cheap unless you're talking city centres. Travelodge until 2020 used to be £29 a night at many hotels during weekdays.
Good look with any bathroom in it 😅
Hi James, Karen and I stayed there on our wedding night, I expect it’s going to be a lot better in your hands👍🤓
Excellent reporting
🎉🎉🎉🎉
Good luck
Good management
🎉🎉🎉🎉
The fella Comes off as honest.
As future business owner. Just have to subscribe to your channel.
Amazing insight, thank you so much for sharing.
I am in year 5 of my little business. Made a good little bit of Monday, but I feel I am at 10% capacity and I am trying to find something new to work on/add to my workload.
Really struggling to find something new
Loving your videos. Every 18yr old should be taught this stuff..how business should work. The brighter ones will take the knowledge and stroll into the world full of inspirstion, eagerness and ideas. If they don't then at least they've understood the nuts and bolts of what theiir future employers are up against, what creates jobs, what the risks are, why teamwork and multiskilling are vital... and why - whatever role they are in - they are a vital part of the business.
Business gold. Expect to be business student famous
got my subscribe great video mate!!
Thanks for watching! See you in more videos!
Congrats on 100k Subs!
Not quite there. But thanks 🙏 45mins to go!
Thank you so much for sharing content like this 🙏🏽
So much info in a short video…learnt a lot…
I do like Rossi's ice cream parlour. The best reason for visiting Southend!
We love having you!
well done James! Love honest clear open vids
Really interesting video James. Thanks for being so up-front with the management accounts and how you plan to invest in the hotel. Just subscribed to your channel. I think you you deserve more viewers and subscribers. I would love to own my own hotel. Currently I just own residential BTL properties. Where was your hotel in Maldon advertised for sale? Is it better to start on a smaller scale like a coffee shop or commercial let? I feel I can learn so much from you.
Thanks James, I appreciate the transparency.
How do you present so well on the camera? You are like a tv presenter!
Fair play for showing the profit and loss - eye opener always knew drinks are the money maker but wow
Very engaging video! Will go watch some more now👍🏻👍🏻
4:11 it’s mostly a special kind of person who normally checks in a hotel at midnight 😂😂
Great analysis, James!
Hotels are fantastic businesses to own if done under the right structure, just like your freehold, which gives you more control compared to a leasehold AND with the right room count.
They do still need to be managed carefully, otherwise CAPEX, staffing costs, utilities, distribution costs, and food supplies will eat your margin, or worse.
It's a 24/7 business with high fixed costs and not for the fainthearted, but properly managed can achieve a healthy margin (particularly when occupancy hits over a certain threshold!).
Your property must be getting good reviews by customers spending so much on drinks! Would love to learn more about your hotel over a call.
Bertran from XpertHost
You should do a numbers video on party pieces, i’m in online retail so that would be helpful.
Now this is the kind of adult entertainment I like! And with numbers... nice
Some years back I was part of a team working on the economic development plan for an area in the West Highlands. We had a top hotel consultant on the team, and it was an education. According to him, around 80% of the hospitality businesses in the area would never be more than marginal - simply because they were too small. Dozens of owners had invested their savings in a doomed business because they hadn't done their basic due diligence on the hotel business model that James outlines here.
Excellent content as always thanks James
Glad you enjoyed it
Just stumbled on this video. Surprisingly a well pleasant guy.
Just the best videos - thank you so much!
thanks for this, have no interest in owning a Hotel but have a finance background so this is extremeley iteresting. cheers.
Probably my favourite video yet. It's great to see the numbers!
Glad you enjoyed it!
@James, it would be great if you can compare your average income and operating cost, to the best months, and to the worst months. It will provide an idea on how the business in run. Also thanks for sharing your spreadsheet. A lot of youtubers talk but with no evidence to show, and hype the type of business they are flogging.
Loved this.
A great insight into running a hotel and the associated costs. 👏🏿👏🏿
Superb video! Very informative - well done!
These videos are brilliant. Very eye opening. Thanks for making them.
superb video....really clever man
This was really informative and entertaining. Followed!
Excellent useful video. I thank you for your valuable time and effort in making this knowledgeable video.
Cheers mate
Very interesting and honest video packed with useful insights
Amazing, loved this!
Glad you enjoyed it!
Hotels confuse me. Why would I pay over £100 for a nights sleep in a bed ? You perhaps spend an hour before going to bed and a couple of hours after getting up. Then you leave the hotel to go and do what you intended doing. So, the hotel may be 'nice' - expensive carpets, furniture, artworks. Well dressed staff etc. So what ? UK hotels are crazy prices.
Ya I agree. I like staying in a nice place but there such a waste of money when you think about it
and can only check in at 1600hrs plus !
Like business class because the "company" is paying for it 🤷
@@serenityinside1 and gotta leave before 12:00hrs!
I went to Belfast for treatment from dublin. Needed safe quiet room for one day. Payed £230 for 1 night as cheapest option. Not me, but thete is plenty of ppl with money and plenty of reasons they need temp. accomodation...
This is so informative and inspiring, wow.
Great video James and what a great business this looks like being especially in your capable hands.
Very curious why hotels never offer lower prices than whats on Booking/Expedia etc. if they're taking such a huge chunk. I would happily book direct if there was only a 10% discount or a free breakfast. Is there a reason this doesn't happen? Do these platforms force you to not offer cheaper prices directly?