Resort Hotel In NH Four Season Destination Resort Area For Sale

Business description

We are offering for sale a Resort Hotel in an excellent location in NH. If you are looking for a flagged or limited service hotel that you can step in and operate as is, then this opportunity is not for you.

However, here is a business that offers:
• Immediate access to a busy 4-season destination tourist market
• A business with an established customer base, excellent location, and a base level of revenue and profit
• A business that can realize higher value with your improvements to marketing, systems, procedures, and the physical condition
• A business with a high future earnings potential

This is NOT a “Turnaround” business. This is a business that has already begun the turnaround process and is now improving. It needs a new owner who can continue and accelerate the growing success of the business and benefit from the resulting profitability.

This price is intended to reflect the operational and physical conditions of the resort, as well as the valuable location, existing business base, and future potential. This price is:

$1,000,000 below the 2009 appraised value of $3,200,000
$1,010,000 below the 2011 Town assessment of $3,190,000
2.5 times the 2010 room revenue
$29,333 per key

Property information

Real Estate:

Real Property Included

Living accommodation:

Manager currently lives on site in 2 BR house.

Location:

Prime location in very desirable 4-season destination resort town.

The Town offers one of the lowest property tax rates in the state, municipal water and sewer, a very pro-business climate, and an excellent school system.

Premises details:

70+ rooms
200+ seat Restaurant
150+ seat Lounge
Convention space

Business Operation

Expansion potential:

At a 39% occupancy rate, this resort is lower than the current 45-50% average occupancy rate of area competitors. A lack of focus on marketing and technology has caused this resort to lose some of its market share. This provides a huge opportunity for revenue growth. A new owner, with some marketing skill, could bring this back to a level more consistent with other area resorts. At $83.95, the ADR is below average for this type of property and could be increased as the occupancy and physical condition is improved.

Large ballroom could be used for conventions or converted into a small indoor Waterpark

Competition / Market:

The resort is located in a busy 4-season tourist destination area. There are numerous other lodging properties in the area. This area remains very popular and had a very busy summer 2011. This resort underperforms in this proven marketplace, leaving much room for growth for a new owner.

Reasons for selling:

Retirement

Employees:

23

Years established:

40

Other information

Support & training:

The very popular restaurant and lounge are also a part of this resort. The Buyer has the option to lease this back to the current owner. This will allow a new owner to benefit from the onsite food service without having to operate it. An experienced food service operator can choose to operate the restaurant and benefit from its proven profitability.

Furniture / Fixtures value:

$175,000 (included in the asking price)

Inventory / Stock value:

$40,000