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Businesses For Sale   >>   Absentee Businesses For Sale   

High Volume Major Hotel Restaurant

Location  New York,United States
Asking Price Range  $10.0M - $20.0M
Gross Revenues  $6000000
Net Profit / Cash Flow  $2750000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Not Disclosed
Year Established  1996
Number of Employees  10 - 19
Inventory  2010000
Relocatable  Not Disclosed
Number of Employees  10 - 19
Real Estate  Leased
Training  Complete training included but Purchaser must have restaurant management experience (see owner qualifications)
Reason for Sale  Retirement / moving out of the country

Description  
Newly renovated, high volume restaurant in a major hotel serving breakfast, lunch and dinner with bar. This restaurant with 147 seats and 10 bar stools has a long term exclusive contract with the hotel to provide room service to 900 hotel rooms, perform hotel catering duties, serve guests meals utilizing hotel vouchers and provide food for the main bar in the hotel. In addition, this restaurant is the beneficiary of the high walk-in traffic it gets from being street level on a corner location of a busy commercial mid-town neighborhood. For dinner this busy restaurant is transformed into a bistro serving upscale food to both hotel guests and locals. Operations Year Established: 1996 Days & Hours of Operation: 24/7 Owner Hours: 40 Employees: 16 Managers: 1 Absentee Owner: No Location Lease Expire: 0000-00-00 Option: yes Lease Security: $100,000 Facilities: Main restaurant in a major hotel with entrances both from the street and inside the hotel Historical Summary: This very successful, high volume restaurant has been open for over 18 years in a well known mid-town hotel. Both the hotel and the restaurant recently underwent major renovations and upgrades. Owner Qualifications: Prior restaurant management experience is a must. This is a very busy, high volume restaurant that the hotel depends on to provide top notch service and high quality meals to its many guests. A buyer for this business will be required to have proven prior experience running a successful high volume establishment capable of managing all facets of the operation. Competition: none Potential Growth: Unlimited Financing/Terms: Negotiable Listed Price: $ 12,000,000 PHONE: 212-661-4160


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