Whether you are looking to get several families or a large group of friends together for a holiday or vacation, sometimes renting out a whole hotel or resort can make sense financially.
Also, due to lingering COVID-19 infections, some groups are considering spending their vacation time only with the members of their known group.
Corporate groups also use hotel buy-outs as a way to thank employees and do some teambuilding at the same time.
Whichever group you fall into, there are several considerations when looking into renting out an entire hotel.
Many variables go into a hotel buy-out. The most common is the location, size of the hotel, and the expected occupancy for the time period.
To get to a ballpark price, let’s look at some of these considerations.
If you are booking a hotel (250 rooms) in a large city, the average room rate might be around $250 a night. If you negotiate directly with the hotel, you could probably get a 20% discount. If it is the low season, you may be able to negotiate up to 50% for a buy-out. Depending on the negotiated discount, this means that a week could cost between $220,000–$350,000.
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If you are renting out a hotel for a convention, you will have greater leverage when booking the convention rooms along with the block of hotel rooms.
Many times, the hotel rooms will be heavily discounted or free. This is because the hotel is counting on the food, beverage, and catering services that you will also be reserving.
If you are booking a hotel for a family reunion or convention, don’t forget the catering costs. These can run $100 a day per person.
This can also be negotiated.
Don’t forget to account for the catering charges which can run about 30%. Service charges can be about 10–15% for the rooms.
This of course depends on the location and size of the hotel.
Many hotels have long-standing reservations, so they have to consider reservations that may have been booked many months out.
They also consider the type of event or groups that you are hosting because they don’t want the hotel to be a big party scene.
They also look at the potential for lost revenue from guests wanting to come when your event is going on or having to turn away potential guests who arrive during your party’s stay.
This includes revenue lost by on-site restaurants, spas, and shops.
That being said, it is possible to rent out an entire hotel or resort for a gathering of friends and family.
It just takes some time to do the research and be prepared to negotiate for what your group really needs.
There are a number of hotels that are ready to accommodate your group with a rental of the entire hotel or resort – Some even specialize in it.
In Las Vegas, the Artisan Hotel is available for rent for a base price of $7,500. The 63-room hotel comes with an ultra-lounge, pool, outdoor patio, bar, and wedding chapel.
This means that each room costs $119.
What makes this deal unusual is that the hotel advertised the availability of a buy-out. Most, like Tahiti Village a small Las Vegas resort, will do buy-outs, but it is not widely known.
Each buy-out request is handled individually, and the price is negotiated at the time.
Hotel buy-outs are not limited to the United States. Consider taking friends and family to a place that you’ve all wanted to go.
Again, negotiation and seasonal availability are key. In other words, major holidays, sporting events like the Super Bowl, etc. are going to demand higher prices and lower availability.
This castle, built in 1180, is available for $7,885 a night. With 11 bedrooms, 26 guests can spend time in a medieval Irish castle.
Just 45 minutes from Dublin, the castle provides all the amenities that anyone could hope for including:
- Grand salon
- Rose Garden
- Large courtyard
- Horseback riding
- Spa with hydrotherapy pool
- Off-road treks
- 18-hole golf course
When booking this getaway, the entire service is devoted to the care of your guests. Privacy is guaranteed.
Breakfast is included, but there is also a restaurant and bar available.
Why go on just an ordinary vacation when you can rent an island and a resort? Welcome to Belize and Cayo Espanto.
This property is available for $14,995 a night.
The resort offers seven different villas that can accommodate 18 guests on the four-acre island. The island is three miles off Belize’s coast making it easy to get to.
Six of the villas on the island resort are located on the beach. One is over the water with access to the beach.
Each villa has a pool, butler service, and a dock. The most economical times to book are during the summer and fall or the low season.
High season, Christmas, New Year, and Spring see higher rates. However, the rate includes meals, snacks, and drinks.
It also covers activities (snorkeling, sailing, and fishing) and boat transfers.
To get to this slice of paradise, fly to Belize City then take a commuter flight to San Pedro on Ambergris Caye.
A short boat ride will get you to the island. For those in a hurry to get to the beach, take a private helicopter from Belize City ($1,200 each way).
The short flight from San Pedro, though, offers wonderful views of water so clear that you can see the marine life, other islands, and the second largest barrier reef in the world.
For $372,000, 20 of your guests can enjoy an entire resort. The resort also offers a four-bedroom home.
This is the only resort located on Felicite Island. As the fifth largest island in the Seychelles archipelago, there is a lot to explore and discover.
The island’s diverse terrain from forests to elevations to giant boulders makes exploring an adventure.
The resort has 30 villas (one and two bedrooms), as well as two secluded homes. All meals and activities are included.
Imagine spending your day choosing from a guided snorkeling tour to Koko Island Sanctuary, fishing, or just exploring the beach.
End the day with a sunset cruise to round things out. Maybe just have a snack with a good book and stare at the blue water ocean.
Located just 30 miles from the Seychelles International Airport, Felicite Island is close by. Getting there includes a one-hour boat trip on a motor yacht.
The other option is to take a 20-minute private helicopter ride to the island.
These private islands offer true luxury and privacy for $35,000 a night. In the Maldives, the rule is only one resort per island.
This resort divides itself into two islands. Play is devoted to the vacation desires of those who love ocean adventures.
The companion island, Chill, provides the comforts for those who would rather spend time at the spa and just relax.
If you have a lot of friends and cash, both islands can be booked for $130,000 each night. This price includes personal butlers, all water sports, and every meal.
There is even a kids’ club.
If this is a little too much, 30 villas can be booked at $40,000 per night. This provides accommodations for 65 adults.
While this is not technically a buyout, your guests will still have all the amenities, including access to the resort’s underwater restaurant, Subsix.
Another option is to buy out Naladhu Island. The island has 20 houses that can accommodate 50 people. Each villa has a private pool.
This option is available for $35,000 a night with a three-night minimum. What makes this truly special is that your group will have access to a luxury yacht during the day for snorkeling.
Island hopping is another pleasant pastime.
While many of us don’t have huge bank accounts to be able to jet off and buy out a luxury resort, there are still options that make sense.
There are many islands, particularly in the Caribbean that are available for rent for reasonable prices.
Websites, such as Caribbean Escapes can help you find the right place for the right price. While buying out a hotel may seem like a high roller’s dream, there are many other ways to find a more affordable space with the luxury detailing that you are looking for.
It all comes down to deciding what your group needs, the best time of year to travel, and how to negotiate most effectively.
In the end, if you have done your homework, your group will be sipping something cool while lounging and looking at the most amazing vistas.