Many investors see an attractive opportunity in the Colombian hotel industry: growing tourism, real estate assets with appreciation potential and sustained demand in urban and vacation destinations. But one decision is often overlooked lightly: choosing the right operator. A hotel's profitability is not guaranteed by its location or its design. It is determined, in large part, by who operates it and under what model.

The four models of hotel operation in Colombia

Colombia has, broadly speaking, four ways of operating a hotel:

1. Traditional chains such as Hilton, Marriott or Accor. They demand high standards, charge considerable commissions and often define even the furniture. They bring international recognition, but little flexibility.
2. Franchises such as Wyndham, GHL or Ayenda. They offer a replicable brand model with certain operational guidelines. The investor assumes a large part of the operation but under brand rules.
3. White label operatorsThey manage the hotel without imposing a visible brand to the public. They are local experts who bring operational, commercial and financial knowledge without the additional costs of a franchise.
4. Self-management by the ownerThe company may seem attractive because of its total control, but it often lacks the necessary knowledge in revenue management, distribution channels and cost control.

Why private label can be the most cost-effective model

The white label model allows the investor to control the hotel's value proposition, adjust the concept to the local and international market and reduce corporate commissions. But its true value lies in execution: not just any operator can successfully implement it.

An experienced private label operator can achieve better occupancies, higher revenue per room and optimized EBITDA through operational flexibility. This translates into value for the asset, especially if the objective is to obtain monthly cash flow, sell it or refinance it in the future.

The Blackroom case: real execution, concrete results

Blackroom is one of the youngest and most disruptive hotel operators in Colombia. Since its inception in March 2023, it has managed to operate more than 8 hotels in cities such as Medellin and Cali, and projects 4 new openings in 2025, in addition to 17 contracts signed for future operations until 2027, including international projects.

Its focus is on "selected service" assets of 3 and 4 stars, from 35 rooms, in midsize segments and with efficient operation without intermediaries. Each hotel is managed with a light operating model, adapted to its reality, without burdening the structure with unnecessary fixed costs.

Unlike traditional models, Blackroom customizes each operation according to the asset and the market. In some cases, it has doubled the profitability of hotels that were previously underutilized. It works under private label, which allows it to maintain or create its own brands without paying franchises or losing control.

It operates on a results-based charging scheme: a percentage of profits plus a variable success fee. This directly aligns the incentives between investor and operator.

In addition to day-to-day operations, Blackroom offers support from the hotel design stage, with market studies, architectural analysis, rate definition and process standardization. Its vertical integration allows for commercial management, on-site operations and asset management with a financial and reputational focus.

The results are measurable: in 2024, the average GOP in its hotels was on average 38% higher than that of comparable properties operated under traditional chains in the same locations.

Conclusion: choosing a carrier means choosing profitability

Not all operators are suitable for all hotels. Choosing a chain may make sense for large developments in international destinations. Self-managing may seem viable, but it is often inefficient. For many assets in Colombia, the white label model offers the best balance between control, profitability and adaptability.

Choosing well is not a matter of logos. It's a business decision. And if the goal is efficiency with real results, operators like Blackroom deserve to be in the conversation from day one.

Alejandro Gonzalez
Founder of Blackroom