An important decision you’ll have to make you're looking for profitable hotels in Costa Rica is to buy an existing hotel or build a new one. There are many good deals on existing hotels and raw land in Costa Rica and there are pros and cons to each option.

If you want to buy an existing hotel it will likely be more affordable than building from the scratch. You may also be able to keep some of the hotel staff, and you may even be able to capitalize on the current bookings, branding, etc.

If you're building a new hotel, it will most likely be more expensive but if you are part of a large development or resort group, this is the best way to go. Building a new hotel allows you to design based on your own brand tastes, standards, personal preferences and to target a specific niche or market. Advertising and employment will be other additional up-front expenses that you should plan ahead for. Make sure that when purchasing new land in Costa Rica that you have considered zoning requirements and approvals for a hotels in the area.

So, what’s the next step you may be asking? Do your homework. Here are a few additional recommendations we have before starting your hotel in Costa Rica:

Investigate other hotels and B&B’s in your specific target area. You’ll need to feel out your competition and make notes of how you can find your own competitive advantage to succeed.

Find out what nearby hotels charge per night. When looking at their nightly rates, see where you stand and then go a step further, take a look at the reviews. Remember: customers will pay more for a well-rate and reviewed hotel.

Read the customer reviews online. This will help you see what clients are looking for in your specific area. Is there something that your competitors are missing that you can offer? Are other hotels in the area falling short on amenities or service – find your areas of competitive advantage and opportunity.

Compare the Amenities. Dining, swimming pools, spas, beach access – all add up to additional dollars.

Spend sometime at a few competing hotels. Get up close and personal when analyzing your competition to ensure you can offer equal or more value to your guests.

Determine what extra services your competitors are missing to offer. In Costa Rica vacationers are looking for relaxation, service, access to adventure, beach access and immersion in the culture. See what more you give your guests. But keep in mind that every extra service is an extra cost, so be sure you budget to avoid losing money on extra services offered.

Creating your business plan. A well-written business plan is important for any successful business venture, and hotels are no exception. Make sure you don’t miss this critical step to drawing a road map to your new hotel’s success and it include: a description of services, your target market, earnings projections, and a full breakdown of your costs.

Whether your decided to build or buy your own homes for sale in Costa Rica will determine your final steps. If you decided to build, acquiring land will be your next step and if you decide to buy an already existing hotel then ensuring that the hotel staff is in place or hiring may be next.

When hiring your own hotel staffs be sure to include: housekeepers, maintenance, front desk staff, food and beverage employees if necessary.

Also keep in mind if you buy an existing profitable hotels in Costa Rica staff, procedures, and often existing bookings are already in place.