Sale Opportunities
• Hotel
Location: Massachusetts
Primary Category: Services - Hotels & Other Lodging
Secondary Category: Services - Auto Repair, Parts & Svcs
Your Reference ID: 15174
Financial Information
Asking: $6,000,000.
Gross: $3,271,555.
Cash Flow: $869,197.
Furniture, Fixtures & Equipment: $800,000. (Included in asking price)
Inventory: $20,000. (Not included in price)
Real Estate: $5,423,000. (Included in price)
Summary Description
The company is a full service hotel catering to couples who are seeking a get away vacation or to celebrate a special occasion. Romantic packages are offered that include lodging, entertainment, and fine dining. The marketing effort has strongly emphasized the motif of the rooms and as a result, the hotel experiences an occupancy rate of 51%-57% that is well above the regional average.
General Information
Facilities: The hotel is located on a busy street in a resort area and occupies three acres. There are 141 units in three buildings with a Gross Building Area (GBA) of 44,388 square feet. The original building was constructed in 1964 and the current owner added two structures in 1987. The Inn contains a large lobby, a restaurant with a modern kitchen, lounge area, and gift shop. There is an outdoor swimming pool and ample parking. The ownership has invested in furniture, TV's, carpeting and landscaping, so the overall condition of the facility is excellent.
Competition: The hotel is the only one in the region that caters to couples and romantic packages. The success of the hotel in developing an occupancy and average daily rate that is above the norm for the area represents its pricing policy, as well as the quality of the rooms. Other sources of revenue pertain primarily to food and beverage sales and have been consistent in terms of a percentage of room revenue over the last several years (at approximately 20% of total revenue).
Growth and Expansion: The tour bus business contributes a significant (20%) portion of room revenues and is a potential area of opportunity for new marketing activity.
Support/Training: As required for smooth transition.
Reason Selling: Retirement.
Employees: 50
Contact Information
Contact: Ridgway J. Crouch @ The Nery Corporation
Phone: 508-990-9800
Email: nery.corp@verizon.net