Not really. And I suspect you would struggle to get funding from the Arts Council.

But it certainly happens:

http://www.torfaen.gov.uk/CouncilAndDemocracy/CouncilNews/2009/October/08-RDPGrantHelpsLocalBusiness.aspx

Have you thought about typing:

"Starting a Bed and Breakfast" into Google? There's books, articles and ideas in there. Better than Mudcat I would have thought.