MergerPlace

80-Room Independent Hotel

New York


  • Asking Price: $4,600,000
  • Gross Income: $1,208,699
  • Cash Flow: Not Disclosed
  • Real Estate: $3,580,000
  • Inventory: $10,000
  • FF&E: $480,000
  • Listing ID: #203321
  • Established: 1962
  • Employees: 4 FT / 28 PT

Business Description

~Includes full restaurant/bar and event space
~The main banquet room will accommodate approximately 400 persons.
~Recent appraisal: $4,450,000
~All rooms have been completely remodeled, including new floors, bathrooms, fixtures, bedding and balconies.
~$500,000 in weddings and other events have already been booked for 2018.
~The hotel is surrounded by over eighty acres of beautiful foliage, providing spectacular views, incomparable to any others in the area.
~The bar/restaurant includes a patio that can accommodate up to 150 people.
~A heated in-ground pool is situated adjacent to the patio.
~The gardens, ballrooms and hotel rooms are all elegantly decorated.


Business Details

Primary Business Category: Accommodations
Location: New York

Company Information

Year Established: 1962
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 4 FT / 28 PT

Financial Information

Asking Price: $4,600,000
Gross Revenue: $1,208,699
FF&E: $480,000
Inventory: $10,000
Real Estate: $3,580,000
Seller Financing Available: Yes

Property Information

Facilities:

Size of space occupied: 48,000 sq. ft. Size of property: 18.5 acres

Growth & expansion opportunities:

A new owner will want to further develop the wedding and corporate event business with a structured marketing campaign via print, radio and television.

Competition:

There is no other hotel in the area that compares to this one.

Reason for selling:

The seller is involved in several other business and real estate ventures.

Support & Training:

The seller offers a minimum of 8 weeks of training to provide for a smooth transition.

Contact Business Seller

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Business Listed By:

Dave Bradia

Klassen Ingalls