Incredible business opportunity for a fun venture!
Buying a business is buying an asset that will provide returns. It is a wise
investment decision which will grow over time. This is a highly profitable business in
a beautiful area with good returns and low expenses, and lots of potential for growth.
Ashland is home to the internationally acclaimed Oregon Shakespeare Festival
bringing hundreds of school groups every year to attend the plays. It's also a
favorite stop of backpackers trekking the 2600 mile Pacific Crest Trail as famed in
the book-turned-movie Wild. The hostel sits next door to the nationally recognized
United Bicycle Institute which brings students in training to stay from 1-3 weeks at
a time. These three groups alone bring in 70% of the hostels revenue, packing it out
almost completely from April to October. The remaining 30% come from travelers
visiting Ashland, small groups, outdoor enthusiasts, and skiers.
This is the last hostel in Ashland, with a growth rate of over 50% for the
past 3 years, and with a 40+ year history in Ashland. There is approximately 4500 sq ft. of living space, 7 bedrooms, 3 kitchens, 6 bathrooms, and 38 beds across 3
separate apartments in a beautifully mosaic tiled building. The building owners are
very involved in the upkeep of the building and invested in the success of the
hostel. At 100% occupancy all year, the hostel revenue potential is more than
$700,000.
You can manage it yourself or hire out and still have profit. The hostel currently
utilizes work trade individuals so there is someone on site at all times. Expenses are
low compared to monthly revenue and will pay for itself in a short time. There is
also potential to increase traffic during slower months or take profit from the high
season and travel in the winter.
Ashland is a small local community that does not experience traffic or much crime.
It is nestled in surrounding mountains with tons of healing activities and local
farmers markets. It has a slow, quiet pace with local residents involved in the city.
Upgrades to the hostel in the past three years: New branded website with online booking platform, extensive SEO work, integration of Cloudbeds (PMS), baclinked OTA's of Airbnb, Expedia, Booking.com, Hostelworld, Marketing strategy list, new $12k HVAC system, House Manual and SOPs, installation of office and laundry room with new hostel washer and dryer, new bunk beds, installation of Google mesh wireless internet.
This is an amazing opportunity to take over a well established business which has
seen major growth in the previous three years and is an integral part of the city.