I am 19 years of age, and made my first million at the age of 17 off penny stocks. I then opened my own S class corporation at the age of 19 and have been funding start ups since. Founder of Blue Grain Corp, Jr. Olympic Champion, renowned chef, personal trainer, life coach, and the list continues.
Fund it for as long as you possibly can. Start-ups are pricey ventures we all know this, and no doubt you're going to need some external support some time or another, but as a rule of thumb, it's always best to make that some time, another time for as long as possible. Keeping the funding on your own back will insure you reap what you sew. You sell a piece of your soul every time you reach out for eternal forms of financial aid, be it a loan or an investment. Now, if not seeking this support means not going through with the app, then by all means it is time to take that step. But as I said before, put it off as long as possible, pay with your own pocket and try to progress at the rate in which your pocket can afford it, this will also help ensure that you have enough time to evaluate every business related decision you are required to make, and can feel confident that you chose the correct direction with each and every decision of YOUR businesses development.
No. Yellow pages, unfortunately so, are a dying utility. Especially as a small hotel, it paints a very specific image as to the type of establishment you are. If I were seeking a place to stay for the night, the place I saw in the yellow pages would be the place I avoided at all costs. Marketing is needed, but you need to be a bit more specific with they type of crowd you are trying to atract , and aim your marketing towards such. Of course yelp is a great place to start, or any tech-based platform. It's great because, well yelp for example is unfiltered. You have no control over the type of things that are publicly said about your establishment, In-turn if you are confident in your business and the service you provide, the business will speak for itself. People are actually getting pretty serious, as A "Professional Yelper" is a real thing now, I even consider myself to be a bit of one. Some reviews mean more than others, and can create quite a bit of traffic. It's pretty easy to get set up now'ah day's, as well as cost efficient . I can think of a million and one different marketing strategies for a small hotel, and the yellow pages isn't one of them.