There are a lot of business areas and one of them is hospitality. This includes the accommodation, hotels, motels, food and beverages, dining halls, etc. Investing money in hospitality area is very profitable and promising in the future because tourism in all around the world will never die. Thus, if you have enough money and you don't know where to invest, you can invest your money to build hotels in undeveloped and developing countries, since the capital needed is lower.
You can buy a franchise if you don't want to market the hotel well because chain hotel already has loyal customers. You don't have to buy license for 5-stars of 4-stars hotel if your money is not enough. If you decide to use a new brand for your business, there are a lot of things to prepare.
First, find the strategic location. People will not spend a night or have a meeting in your place is in a rural area. If you build hotel or motel near tourism, you should find the place that is very strategic, so tourists will decide to go back to your hotel and recommend the place to their friends.
Second, the employees. You should train the employees to greet and welcome the guests well. Third is the system to record all transactions happened in the hotel. You will not be able to monitor the activities happened, so it's very good if there is a tool to monitor is from remote area. You could hire people to build the system or buy the hotel reservation software from iMagic Hotel Reservation. When you decide to buy existing software, you can get many benefits such as the features are very complete.
Last but not least is to build a network and corporation with tourist destinations, companies, universities, colleges around the place you build the hotel. Thus, they can help you to promote your business.