The amount of money a hotel owner makes is largely dependent on how involved she chooses to be in the company. The owner may hire herself as the general manager of her own hotel. Salaries vary on the location and the success of the hotel, but general managers of top-rated hotels can earn between $150,000 and $250,000 a year, according to CNN Money.
As the owner of the hotel, you have a big influence on the way you conduct the business. Many large hotels grow beyond the ability of owners to manage on their own. Smaller boutique-type hotels may prove not only viable but may even benefit from having a full-time, salaried owner-manager.
Because the owner in this case becomes an employee of the company, it is important to consider the tax laws for your region. Some regions do not charge personal income tax, making self-employment by the hotel a desirable solution. Even with a personal income tax, the money paid to employees is a consideration for the taxes of the hotel company and reduces the overall tax burden from the government.
The general manager of a hotel has a wide variety of duties, depending on the size of the hotel. Smaller hotels might allow the owner-manager to take a hands-on approach to the daily necessities of maintaining the facility, while larger hotels and resorts most likely require a management support staff beneath the owner-manager.Learn More
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