Strong Cash Flow Hotel In Booming Carribbean Tourist Town.
Asking Price: $285,000 USD (Negotiable)
Recently constructed to the highest standards with reinforced concrete, high quality fittings and ceramic tiled floors throughout, this boutique hotel features ten private rooms each with an ensuite bathroom. Five rooms have their own private outdoor terrace. Each room contains a comfortable double bed and has access to wifi and electricity. The hotel is on the main road of Palomino with restaurants, shops and bars all close by. Water and electricity are provided by the city at very low cost. Palomino is a picturesque, unspoiled paradise where the jungle meets the Caribbean in idyllic rural Colombia. Palomino has become popular with tourists looking for a quiet, relaxing and secure getaway with unspoiled sandy beaches, tropical jungles and views of the snow capped Sierra Nevadas. The hotel has excellent ratings with online travel agencies and is regularly receiving high reviews from happy clients. Increased customer satisfaction and higher room rates may be accomplished with the addition of air-conditioning, mini bars or pay tv. A power converter has been installed to ensure any future power requirements are met. There is an additional 2400 square feet of unused space on the second floor with architectural plans for an additional 5 rooms, a break out area for the guests or another restaurant. The downstairs restaurant has been built for customer amenity but is doing a roaring trade with tourists seeking delicious vegetarian, vegan and gluten free meals in a quiet,tranquil and romantic setting. The vegetarian market is a very lucrative market in Palomino and our restaurant caters for this demographic. Additional menu options to the restaurant will undoubtedly increase trade. All approvals and permits are in place and the hotel and restaurant are in full compliance with local bi-laws. Staff are in place and wages in Colombia are very low. Occupancy rates are very high. Input costs are very low in Colombia and this business is strongly profitable. The NOI is currently around 30% of the asking price. This level of profitability affords a very comfortable lifestyle. The reason I'm selling is that I am a builder and not a hospitality person. I have built the hotel as a retirement investment and with the influx of tourists, the increase in occupation and the success of the restaurant, there is a lot more work to running it than I had anticipated.
First to view this property will buy. Thank you for your attention.