Tag Archives: risk

Dear Demeter Clarc, Am I Inn or Am I out?

DRAGONFLY INNDear Demeter Clarc,

There is an interesting opportunity for me to leave my current position and take a very big risk to purchase a small hotel in the mountains.  My boyfriend and I have quit our jobs and are prepared to move out of the city to take on this new challenge.  The owner of the motel is old and burnt out.  He’s ready to retire.  He’s bending over backwards to help us secure financing.  We have never run a motel before or any business for that matter.  Are we crazy to uproot our lives for this unique opportunity? 

Sincerely,

The Newharts

Dear Mizz Newhart,

May I first congratulate you on your courageous spirit of adventure?!  I’m all for calculated risks.  Agree to run the motel for a year.  See if you and your boyfriend like the lifestyle and responsibility before you commit.  There’s no need to go ballsdeep in financial risk when you don’t even know if running the motel is a sustainable and enjoyable choice for you both.  Since the owner is desperate to unload the property (a red flag, btw), when negotiating a year-long management deal write in a right of first refusal, so you get the first option to buy the place should somebody else come sniffing around.  During this year, you will learn all the “inns” and outs which will allow you to make an educated decision about investing your money and taking on a major mortgage.  After a year of hard work at the motel, you’ll discern whether the arrangement is both feasible and sufficiently rewarding enough for you both to commit to this project long-term.  ANTHONY MELCHIORRI

hot tip

I’m about to take an adventure and I went on a Hotwire binge.  I haven’t used the site before, but I do like a deal on lodging.  I like to keep it under $100 a night including taxes and extra expenses.  Free breakfast is an added bonus, free wifi – an obvious necessity.  You’d be surprised how difficult a $100 budget-restraint can be in both major cities and small towns, assuming you don’t want to go the two star route.  In my opinion a 2 star rating pretty much guarantees a dreaded foreign pube encounter. So here is the tricky shit.  If you are willing to risk the unknown, you can do quite well on Hotwire.  The steepest savings lurk in the Hotwire Hot Rates.  Book an accommodation based on a star rating, general geographical area, and/or amenities, but the identity of the hotel remains a mystery until after you reserve a non-refundable stay.  Risky business, I know.  Those who take risks are well-rewarded.  A 2 night stay in a 4 star accommodation listed for $311.02 on Orbitz.  I booked the same hotel for $228.92 on Hotwire –  for a total savings of $82.10.  To be clear, I didn’t know what hotel I was booking at the time of irreversible billing, I just pressed the button and hoped for the best.  I was pleasantly surprised 3 x in a row in three different locations.  When I compared my booking rate to the available published rates, the savings always ranged from super to spectacular.  It is easy to feel smug from the plush cushiness of my own chair, but when I arrive at these hotels, they better live up to their promised cleanliness ratings.  A rogue hair can really spoil an evening.  In keeping with my budget, Hotwire allowed me to upgrade a full class of hotels.  Plus, I enjoy a thrill when confirming a reservation and the big name reveal comes.  I immediately skip to the other travel sites and gloat over what a fantastic deal I scored.  Fear not, I plan to keep you bitches fully informed from the road as to whether choosing this site was a wise or poor decision.