Tybee Island is a popular destination for tourists. Some think travelers need a place where they can rest their heads and keep their stuff. Travelers should create a home from home. A place where they can fully recharge from their worries and travels
Each Coach House guest will find everything they need to feel at ease. Catered meals, chilled wine and champagne are available for special occasions. An additional stipend can be offered. Guests can enjoy cheese, fruit, or wine at the B&B on weekends before returning to their rooms for the night.
B&Bs and other short-term accommodations on Tybee Island have been a significant part of island tourism since long. Of the short-term lodgings on Tybee, ten are categorized as inns, 19 as long-term lease facilities (rentals, condos, and houses) and only four as B&Bs, including the Coach House. According to units, hotels/motels account for the highest percentage of rental properties in the island.
Ironically, on Tybee Island at least, the rise in popularity of Airbnb and other competitors has increased demand for B&Bs, rather than causing us to lose more competition. People are more aware that there is non-hotel lodging. And of course we participate in this new channel with our profile and standing on Airbnb.
The average annual increase in rental units is only 30%. Competitors have reported an average of 30%+ rental increases over three years. Georgianne Inn predicts that the Georgianne Inn will see 50% increases for its next two year before it reaches full capacity. The projection does not include any increase in advertising or exposure. However, it is based upon the average increase in tourism.
Tourists from the North who enjoy the warmth and comfort of B&Bs are our main customers, while local patrons use the facilities to host various events. Subscriptions to various Web services will provide international exposure to potential customers for nominal annual fees.
We are uniquely positioned with Airbnb. Bed and Breakfast offers a unique lodging option that caters to a larger number of travelers. B&Bs provide a sense of belonging, where guests are welcomed into a larger family. The B&B home opens itself to guests, allowing them to participate and share in the richness of a community, while still allowing whatever degree of privacy is preferred. Sharing meals can allow for new connections to be made and enhance existing relationships. Or, guests can enjoy meals in their own rooms.
A variety of settings available in the B&B are situated to enable individuals or small groups to locate the perfect setting for whatever mood or activity one is pursuing (reading, watching television, playing board games, etc.). The B&B considers a guest a guest of the owner’s home and not a customer. It becomes a place where you can return to after a long day or when you are on vacation.
At the Coach House B&B, guests will have the right mix of membership and privacy. Owners have learned to balance being polite and respectful without being intrusive in all walks of their lives.
We start with a critical competitive edge: there is no competitor we know of that can offer the convenience and luxury one will find at the Coach House. We have stayed at many B&Bs and traveled across the country. When searching for B&B lodging, our knowledge is invaluable. We can stand up to the Airbnb competition.
Average monthly fixed costs are approximately $8,000, plus interest payments. Monthly earnings will be affected by the peak and off-season. The first year, the on-season revenues will make up for off-season declines. We anticipate that Coach House B&B will break even in the off-season as it builds its market position with local patrons.
Our high-stakes profitability is unrealistically high. We leave it that way knowing that other expenses will come up. We expect to revise upwards as needed.