Romantic Family Hotel for Sale in Marktplatz 4, Koblenz, Rhineland Palatine, Germany

Romantic, Profitable, Family Run Hotel on Mosel River

Hotel Simonis is a Romantic Family hotel in the Midieval Mosel Village Kobern Gondorf. It is located 15km from Koblenz.
13 recently decorated rooms/Suites plus 4 rented in the next door house. Which is the oldest half timbered house in Germany. We just reduced the price by 40 000 Euro because the rent has been canceled since it will be renovated after the season of 2009. We are not sure what the new rent will be but estimate that this will be about 600 Euro per month after the renovation.

A private apartment of 100m2 is included. This includes a large sunterrace of 5x4m, a large bathroom, one bedroom and a living room. The entrance is on the first stock of the hotel. It was fully renovated in 2008.

The restaurant can hold 50 seats and two terraces (front of hotel 20 seats, back of hotel 80 seats) There is a wine bar with 20 seats and a big screen TV. The lounge has an openfireplace. There is a fully fitted kitchen and all hygiene standards are easily met.

All licences are in place, including all new fire regulations. We placed all fire doors, alarm system and smoke alarms in in 2007. We placed a new heating kettle and boilers in in october 2008.

All Real Estate is included in the €455 000.

We run the property as a couple and have one hourly employed as housekeeper. The hotel is profitable and has potential to grow. The exact number can be viewed upon visiting the hotel. The bookings for 2009 exceed 2008. RevPar is 10.000 in 2008, with an average occupancy growth of 12% in the last four years despite the economic crisis.

Areas of growth

It is a very touristic area where the season starts in April and ends the last week of October. The Holiday Season with ChristMas and New Year can be improved. The Christmas Market season and the Food and Beverage department is unexplored by the current owners.

In 2008 we started exploiting the terrace. But honestly we are no experts. It could be an option to rent it out or, for the right couple, make it a profitable section within the hotel. We serve half board to guests who pre ordered.

The hotel is suitable to upgrade the rooms even further to a boutique hotel. There are no boutique hotels in the region. The rooms are spacious and all have flat screen TV. Wireless internet access is avalable. Minibar and phones are present, a fully fitted bathroom in each room and seating area or seperate living room. The linnen, beds, duvets etc are all new and owned. There are no lease or brewery contracts.

Risks

The rented property which hold the additional 4 rooms will be refurbished in 2010. We have no indication on the extend of this refurbishement, how long it will take and what the rent will be afterwards. However, many other rooms can be rented in the immediate vecinity of the hotel.

Besides having good management to be profitable, like any other village along the Mosel, there is the risk of the Mosel river coming high. Everything in the hotel has been built and fitted to be removed quickly in case the Mosel comes too high. This happens every few years. (last time was 2003 but the hotel kept its feet dry. 1993 was the last time water came inside the hotel) you get 12 hours warning from authorities and the comunity helps the people in the buildings so close to the river when this happens. All electricity, phone etc is fitted on the first floor.