This boutique hotel property is set in a prime tourist district and offers an incoming owner a growing source of income, easy operations of a rooms only business, and the opportunity for growth if desired.
Growth in revenues year over year for the past 5 years, primarily based on business' growing reputation and marketing efforts. Expectation is for continued growth based on current macro factors, including a local development within one block of this property expected to drive additional demand season round.
Fiscal year end is June 30 - just before tourist season starts.
Cashflow for 2017 year end is expected to be well ahead of '15 and '16 given already generated results as well as current booking profile and secured contracts. Year to date cashflow is $344k in the first 8 months of the year.
Cashflow for 2017 - $375k (awaiting accountant prepared statements)
Cashflow for 2016 - $325k
Cashflow for 2015 - $323k
Prime downtown land provides the perfect street frontage for this operation and it's successful commercial leasing of this 3 storey boutique hotel. Location is ideal, within walking distance from all tourist attractions.
- Top of the line mechanical systems ensure cost of ownership kept to a minimum. All systems are approximately 5 years old.
- Environmental assessment recently completed, all clear.
- Total commercial lease revenue from 3 commercial units
Additional real estate / business opportunity exists with this sale and would be very appealing for a motivated entrepreneur.
Call to find out more.
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