Timothy B. asked
Do I need a hotel license if a hotel management company runs the property and I collect the cash flow? I am currently leasing a building in NYC, and Hilton manages and runs it. I pay them a management fee and collect the profits. I'm not in the hotel business, Hilton is. Additionally, how is my business valued? Annual net income is $334k, and I lease 6 properties. Is it like 5x the net income or something? In business for 3 years. I don’t own the properties, I only lease them.
February 17th, 2024
Randy T. answered
No, you do not need a hotel license if the property management company, in this case Hilton, has the...
February 17th, 2024
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