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I think the GP's comment was unhelpful, but there is always risk in starting a business, particularly in hospitality, and especially as an independent operator.

There's risk in the construction (that budgets/timelines will blow out, contractors will be unable to complete the work to specifications), in whether the hotel will be appealing to customers, in the possibility of a recession or natural disaster or civic crisis that will keep tourists away.

There's a few of the more obvious ones.

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