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Impressive Profitable Hotel
| Asking Price: | $2,200,000 | Inventory: | |
| Gross Revenue: | $493,408 (comments below) | Real Estate: | $2,000,000 ++ |
| Cash Flow: | $81,296 (comments below) | FF&E: | $200,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
| Gross Revenue Comments: 5.2% increace in 2008 | |||
| Cash Flow Comments: Growing | |||
Perfect location, incredible facility's, 58 room hotel on busy highway in West Michigan. Indoor pool, hot tub, conference rooms, close to everything. Restauarants within walking distance. Wedding and convention center very close nearby. Profitable and growing. Seller has a 8% fixed rate that needs to be reduced. SBA will offer a new 6% or lower to qualifying buyer that makes this business very attractive.
About the Business
Year Established:1997
Employees:3 full time - 2 part time
Franchise:Yes
Facilities:58 rooms, indoor pool and hot tub. exercise room, sauna, lobby with guest computer and wireless internet for all, Lobby kitchen provides continental breakfast. Convention rooms, laundry facility's, ample parking. Awesome building, you'll be impressed
Market Outlook and Competition:Located in a smaller town that is growing. Large construction projects about to begin. Large convention center nearby tha brings the bigger weddings and events. No close competition
About the Sale
Management Training and Support:Seller currently is an absentee owner. Management is in place andis highly trained and capable for transisition. Additionally, Franchisor offers exceptional additional support and training
Reason For Selling:Owner is in his 70's and wishes to retire
Seller Financing:SBA is activity looking to fund opprtunity's like these. In th event seller financing is needed, the seller would entertain proposals
KEYWORDS: Hotel. Motel, Convention Center, Passive, Real Estate, West Michigan, Kent, Ottawa, Holland, Grand Rapids
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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