|
NEWS UPDATE FOR LIMITED SERVICE HOTEL OWNERS…
Quick Fire Consumes Half of Hotel …
Unprepared for Income Loss,
Owner Sells Property
Desperately sad, owner begs other hotel owners
To learn from her tragic (and preventable!) mistake!
It’s every hotel owner’s fear: an early-morning phone call from the desk clerk, with the unthinkable news that your property is on fire.
That’s the call Anita received in the wee hours one June morning. As she raced back to work, her mind flipped through contingency plans. She wasn’t worried about repairing the damage; she had just reviewed her policy the previous month to ensure it covered all replacement costs.
But she had played the odds when it came to business interruption coverage. She never dreamed that she’d be prevented from booking rooms – or even that she’d have to move guests to another hotel.
When Anita screeched to a halt at the scene, she was relieved to see the fire was out. But half the hotel was burned to a crisp, including the property’s restaurant, pool and lobby. With a sinking stomach, she did a quick calculation in her head and realized she was looking at months of drastically reduced income.
Six months later, the hotel was full restored to its former glory – and it was under new ownership.
Sixty percent of the rooms had been damaged or destroyed in the blaze. With the main “living” areas of the hotel shut down, other guests were pulling their business to stay at her competitors’ properties. After tapping her personal savings, Anita finally called it quits, selling the property at a bargain price.
Don’t let a catastrophe endanger your hotel’s ability to provide for you and your family. Take steps now to ensure that even if your business is interrupted, your income won’t be.
Click here to get a Hotel QuickQuote. Or simply click here get your FREE Hotel Insurance Audit – and find out what dangerous gaps are lurking in your insurance policy! (No obligation...just a friendly “consumer awareness” service for Hotel Owners!)
|
The 7 Deadly Sins of Hotel Insurance
