|
Listing
Details
of H03528
| Price |
$3 m |
| City |
San Jose |
| State |
Others |
| Country |
Costa Rica |
| Type |
Others |
| Listed
by |
Broker |
| HOTEL IDEAL FOR AN INVESTMENT GROUP INTERESTED IN BOTTOM LINE!!!! |
Description:-
The owner is asking $2.8 million if you want the owner to finance up to 50% in a first mortgage, or $2.6 million cash. Both options would be financeable by proceeds from the business. The hotel is a good, safe hotel to own, ideal for an investment group who are concerned with the bottom line. The hotel is set up to be easy to run, and is currently operated by the owner and his son who would be more than happy to take their time and show your group how they operate, if you wish.
All existing thirty-four smoke-free hotel rooms are quite modern and spacious and fully loaded, each with two large beds, clean, cool ceramic-tiled floors, private baths (some with bidets), all with large color TV's, wireless internet throughout the hotel, all rooms have A/C, direct dial phones, coffee makers, a small writing table and chairs, an attractive armoir closet and dresser, and an in-room safe. Included are three suites which have in-bath Jacuzzis, microwaves and a small fridge. The hotel has a sixty person bar and restaurant, and a large solarium room , and a new fully-equipped gym.
Actually there are two properties included in this sale, the hotel plus an attached lot. The owner crunched the numbers and decided to demolish the house on the lot to put in a solar-heated pool and Jacuzzi, plus green area, all nicely adjacent to the bar and restaurant. It will be completed in about a month. Room rates across the entire hotel can go up moderately with a pool. A pool also increases multi-day stays by making the hotel more of a destination for people (with families, retirees) touring the nearby rainforests, volcanos, etc. Also, with a pool, the hotel will become a four star hotel. The total hotel is in a prime location.
There are several new condos and two new shopping plazas being built down the street. Our particular area within Costa Rica slowed but never really stopped growing even over the last year, and is presently booming!
The hotel is central to the international airport, San Jose, and the Pavas (domestic) airport, each ten or 15 minutes away.
The hotel is in one Costa Rica's most exclusive neighborhoods . In our price range we have no competition in our area, so the hotel is better priced to ride out any economic slow-down. It's been said that the hotel rooms are as nice, or even better than the Hilton and Ramada. Branding the hotel with a hotel chain is another option, but so far the owner has found good self-marketing is more profitable for them.
The location is multi-purpose, ideal for first and last night stays in Costa Rica for tourists and condo owners, as well as people who want the San Jose experience for part of their vacation, but prefer not to stay right downtown with it's inherent urban third-world problems.
Until the recession, Costa Rica was growing at a fantastic rate along both coasts and the Arenal/Monteverde areas with new hotels and condos all over the country, and now is rebounding. The hotel is poised to continue benefiting from airport arrivals, as people continuously visit their mountain and beach properties. The owner hears daily from many of their guests wanting to retire or invest in Costa Rica to weather the global economic storm, family and friends to follow.
The far smaller Liberia Airport services Guanacaste, but the lower part of the Nicoya Peninsula and all the rest of Costa Rica; the nicer, greener, more mountainous part, generally use the San Jose airport. Tourism remains strong in Costa Rica as quality visitors, largely internet users, keep coming to a quality country.
The best tours in Costa Rica are centered around the Central Valley, like the world-famous Rios Pacuare and Reventazon for whitewater rafting, Poas, Irazu, and further Arenal Volcanos, San Lorenzo - the largest canopy tour in the world, plus some great coffee and butterfly farm tours. The hotel is half way between the two oceans. The owner makes at least a 20% commission on each tour and car rental, plus guests tend to take an extra night's lodging for each tour taken.
In the off-season, the hotel has been keeping the occupancy up until now with week-long medical tourists, conventioneers and Floridians, Texans, even upper-middle class Mexicans and Puerto Ricans, who are not interested in Costa Rica's hot beaches, but rather the cool rainforests and volcanos found in the interior. The hotel has a high year-round occupancy rate, and have seen a marked increase in full paying guests who contact us directly without middleman commissions due.
The hotel is an excellent opportunity for someone wanting to make money immediately, as it is fully-operational turn-key hotel and basically runs itself, and often quite busy. Unlike fire-sale beach and mountain properties, there is a reason with or without the recession, they are very seasonal where the hotel tends to be busier year round, especially with business travelers and convention attendees in the green months.
The hotel also has a good name as the founding member of a 71 member Costa Rica hotel association and member hotels from all over Costa Rica send us guests quite often.
The hotel's near San Jose location also allows it a larger bilingual labor pool to draw from, and convenient proximity to government and other services and suppliers.
Normally, financial information is not given to strangers, but the hotel is netting just under $300,000 per year presently, which gives you a lot of money to service any mortgage you may need to finance. We don't waste people's time, and we appreciate the same courtesy. If you or your investors are serious buyers that have decided it is time to buy a Costa Rican hotel, do yourselves a favor and look at this property, compare it to others.
The owner has owned this hotel for six years, and enjoyed it very much, however, they have decided (before it is too late!) to semi-retire and pursue a lifelong dream as a travel writer, and develop some international hotel portals.
The hotel is completely debt-free and current except for one $825,000 7.5% first mortgage which may need to be retired at closing unless you want to carry on with it. The owner would like to repeat, be careful not to get trapped on the beach or in the mountains with an extremely seasonal business. If you really want to own a good, safe, modern, successful, well-located Costa Rica hotel, with flexible Canadian vendors who are prepared to work with you to help you succeed, this is it.
NOTE: FSBO International Group, Incorporated
www.hotels-fsbo.com is the contracted referral website for this hotel property listing.
All inquiries, in the first instance, must be addressed to either:
info@hotels-fsbo.com
brian@hotels-fsbo.com
|
Rooms
| Total
Rooms |
34 |
| Living Quarters |
no |
| spacious, fully equipped |
Revenue
| Room
Revenue |
$600,000 |
| Other
Revenue |
$200,000 |
| Total
Annual Revenue |
$800,000 |
Amenities
|
Swimming Pool |
87 sq.meter solar-heated infinity pool is being completed |
| Spa |
yes |
| Meeting
Rooms |
yes, under a rancho on the pool deck |
| Exercise
Facilities |
yes, 10 piece gym |
| Laundry
Rooms |
yes |
| Others |
restaurant, bar, computer room, solarium |
Occupancy
| On-Season |
90% |
| Off-Season |
60% |
Finance
| Assumable |
Negotiable |
| Owner
Finance |
Yes |
| Down
Amount |
half |
Reason for Sale:-
Retiring and traveling |
Ratings :-
3 star but applying for 4 star when new pool complete |
|
