Business Hotel for Sale in Panama City, Panama

Prime Business Hotel Opportunity

This business hotel property is centrally located in the middle of the central business district where many government and private business offices are located.
The opportunity exists to operate with a 12 % Return and significant upside by upgrading the rooms, pushing room rates and increasing occupancy levels.

It has 43 rooms, all have A/C, Cable TV, Queen and Twin Beds, Closet, Safe box, and electronic card key system. The hotel has a ground floor which includes the reception desk, lobby, bar, lounge, Laundry and restaurant. (See attached photos).
The hotel is sitting on an 800m2 land and has approximately 2400m2 of construction (Ground floor plus 4 floors of rooms) The hotel has an annual occupancy of around 70% with an average daily rate of $45.00 The restaurant brings around $10,000 monthly. Additional revenue comes from phone calls that the guests make from their rooms (around $2000 a year) and from using the laundry (around $1000 a year) The hotel has monthly expanses of $25,000 which includes all utilities, salaries, and cost of goods. The owner is asking $2,850,000 and financing will be available for qualified buyers.