As an investor who is eager to diversify his wealth to other areas what do you think about this, Building a hotel as means of investment or buying a bitcoins for a long term investment. If you are to choose among this options, which will you choose base on your personal view of things.
Share your idea and Help someone to think right.
I will not lead you to choose one between Hotel and Bitcoin. But simply there is a basic question about hotels, namely to what extent currently the hotel gets visitors to make it a lodging? we have seen various hotels that compete to provide luxurious services and facilities and that means that you as an investor will spend 2x costs both for repairs, buying facilities, paying employee salaries, etc. Take that into account if as an investor including promotional methods that each hotel will offer each other cheaper prices. In my place, hotels are very quiet even though tourist attractions and tourists are arriving.
Secondly, investing in bitcoin you don't need to spend anything on additional costs just about 1:1+ long term profit.
But can you tell me, as you said, the hotels around your area are very empty, and if the hotel business is as costly and unprofitable as you say, why does it still exist and even grow over time? On the contrary, in my country, the hotel is developing very well and many people are creating a desirable source of passive income despite fierce competition. I guess not only you but many people here have never been in the hotel business and people are talking about things they don't know.
I agree that business is risky, not everyone is successful but that's business. Have you seen any poor people running and managing hotels? Most people who can afford to build hotels are rich and rich people are not as stupid as we think.
You don't give specific advice to the OP but you misrepresent the hotel industry, it's clear you're trying to advise the OP to invest in bitcoin instead of hotels, an area you have no experience in.