Asking Price: $16,000,000 Gross Revenue: Not DisclosedCash Flow: Not DisclosedEBITDA: Not DisclosedInventory: $30,000 not included in asking priceFF&E: Not Disclosed included in asking priceReal Estate: Not Disclosed Share this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
Join Traverse City’s booming tourism industry with this lakefront resort. Praised by reviewers as having a professional and accommodating staff, great food, and a perfect event space, this resort makes the most of its location. 80 spacious units are divided into beachfront, courtside and park-facing rooms for guests to relax and refresh between trips to the onsite cocktail lounge or indoor pool and spa.
About the Business
Traverse City, Michigan
Number of Employees:
Building Sq. Ft.:
This gorgeous lakefront business includes 80 spacious units, a casual cocktail lounge, and 450 ft of beach. Everything guests want or need is just an elevator ride away. Romance is in the air with a breezy gazebo and wedding reception area just steps away from the calming waves. The resort also features a spacious meeting room that seats 35, a heated indoor pool and spa, guest laundry, and full menu room service. The guest room mix breaks down to 5 luxurious whirlpool suites, 2 romantic whirlpool rooms, and 3 family-friendly efficiency suites (which include a full-sized fridge and stove). With 44 beachfront, 24 courtside, and 12 park-facing rooms, every guest can find a view they love waking up to.
Traverse City, known best as the four-season playground, draws in tourists with high-quality food, wine, and culture. It’s ranked as one of five top foodie towns in the US, and it’s one of three emerging beer towns. This resort is the perfect landing pad for guests to enjoy everything from the town’s annual week-long National Cherry Festival to hiking at Sleeping Bear Dunes. Guests staying at the resort can also sail, kayak, golf and scuba dive in the summer and ski, snowboard, and snowmobile in the winter. There’s no shortage of profitable events for a new owner to take advantage of with this resort.
Growth & Expansion:
The new owner has ample room for growth and expansion. The facility provides a fantastic space for family and business events. Traverse City’s tourism industry is a top contributor to the area economy and has generated an increase in spending and employment over the last decade. A new owner could advertise alongside Traverse City’s many tourism events, like the annual Traverse City Film Festival, to attract and delight tourists.
Owner will provide training and support for a smooth transition. PLEASE BE ADVISED: PRIOR TO THE RELEASE OF ANY CONFIDENTIAL INFORMATION, THE SELLER REQUIRES ALL BUYERS TO DISCLOSE THEIR FINANCIAL QUALIFICATIONS THROUGH COMPLETION OF A CONFIDENTIAL BUYER QUESTIONNAIRE ALONG WITH A NON-DISCLOSURE AGREEMENT. SELLER’S APPROVAL OF SAME IS REQUIRED BEFORE CONFIDENTIAL INFORMATION IS RELEASED. PLEASE CONTACT OUR OFFICE FOR THE FORMS AT 800-636-7046
Seller will consider some financing for a qualified buyer.
80 Unit Lakefront Resort in the Heart of Traverse City
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. See our
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