Ocean Front Hotel
Location British Columbia,Canada
Asking Price Range $2.5M - $5.0M
Gross Revenues $480000
Net Profit / Cash Flow $185000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 1980
Number of Employees 4 - 5
Relocatable No
Number of Employees 4 - 5
Real Estate Owned
Training Available.
Reason for Sale Other business interests.
Description Rare oceanfront hotel property located near one of the most popular and beautiful National Parks in Canada, Pacific Rim National Park. The owner has worked hard to improve the hotel by upgrading FF&E and undertaking significant renovations. Guestts approval of the premises is high, and despite the seasonality of the business, the hotel maintains an impressive annual occupancy rate of approximately 70%. This translates to an effective average room rate of $165. The current owner has done a good job of attracting international clientele through the internet and through agreements with tourism and travel agencies. The hotel also benefits from significant walk inn traffic. This is an ideal opportunity for a visionary to further develop the potential of this underutilized property with many opportunities that range from a boutique hotel to a full fledged first class hotel facility. The current owner of the hotel has made possible significant development of this property through the acquisition of adjacent lands which are also available for purchase, but not included in this offering. With or without the adjacent lands, development of the property could proceed in several ways, including the development of full or quarter share condominiums, increasing rentable rooms, upgrading to a four star rating, adding a restaurant or public house, or a combination of any of the preceding. With zoning changes, it may, alternatively, be possible to redevelop the property for semi detached or condominium style housing. For more information please email or call John Mostowich at 604.696.6111.
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