Property Background and Owner Vision (cont.)
Owners also rescued the high-end furniture in the suites from a now-demolished Miami Beach hotel. Other design features, such as the wood columns, colonial floor tiles and wrought ironwork, are all the craftsmanship of local artisans.
Owners vision and persistence were essential for this labor of love in order to convert the property in 2009 into what it is today: a stylish and intimate space that blends the old with the new.
Property location
This colonial style property is located in a quiet residential street cul-de-sac without bus or car traffic, very close to the Central Square, Cathedral, entertainment and shopping center also known as “La Calzada”. Therefore this property is perfectly located in the historical center of Granada without the noise, automotive and foot traffic.
Details of Property
Each suite is furnished with a fusion of colonial elements and the latest modern amenities. Each suite has a Private Bath with Hot Water, Air Conditioning, Ceiling Fan, Flat Screen Cable TV, Wi-Fi Access, Rooftop Terrace Access and Breakfast.
In addition, the property has an owners apartment and with a kitchen. The bar area provides various seating and lounge areas inside and around the pool area. There is a salt water pool for guests to use.
The overall property size including open guests areas and all rooms is approximately 556 sq meters or 5,984 sq feet and and total suite combined suite size is approximately 456 sq meter or 4908 sq ft for all 8 bedrooms and owners quarters size is approx. 90 sq meters or approximately 1000 sq feet.
Turnkey Purchase
This is a turn key property where most items will be transferred to the new owners, with the exception of a few private paintings and artifacts.
The property includes: an operating Hotel with more than 8 years in service. The property has the following room design and daily rates:
Suite 1 with 3 full beds at US$85
Suite 2 with 2 full beds at US$75
Suite 3 with 1 full bed at US$65
Suite 4 with 2 full beds at US$80
Suite 5 with 2 Queen beds and a twin at US$80
Suite 6 with 1 King bed with Balcony at US$80
Suite 7 with 1 King bed at US$80
Suite 8 with 1 King bed at US$80
Hotel includes all equipment (from office, kitchen, maintenance and pool equipment), furnishings from bedroom suites, tables and chairs and reception area furnishings and all business permits for 2018. Property includes lobby/reception, lounge area, dining, public restrooms, inner patio and garden. Here you will see a large mango tree that is the focal point of the property that was saved and incorporated in the overall BnB design. In addition, a newly installed saltwater swimming pool. The rooftop terrace provides spectacular views of the Cathedral and Volcano Mombacho.
Private apartment currently used by the owners, is approximately 100 sq. mt (approx. 1,050 sq ft): two-story apartment, first floor: spacious kitchen and living area; second floor: one large bedroom (easily convertible into two rooms), large private rooftop terrace with spiral staircase. You can either live here or convert this into one or two additional rental units. You also have a parking area that is not being used. One idea would to be to convert this garage to additional rental space.
The hotel property purchase includes the following:
A fully turnkey business with steady growth and all furnishing and a reliable income stream
Trained and trustworthy employees with great customer engagement
Excellent On-Line Reputation (TripAdvisor, Expedia, Booking, Hotels.com, Google)
Telephone and mobile phone accounts, Website, business emails accounts and social media accounts and guest booking accounts such as Airbnb, Hotels.com and others.
Opportunity for the Buyer
In addition of purchasing this hotel there are some areas a new owner can create their own mark and expand the business further.
The opportunity here is for the new owner to continue the Bnb model, expand with additional rooms, or add additional staff to provide lunch or evening food service. Currently the owner is only offering a breakfast with its room rentals. However, there is an opportunity to provide a romantic weekend getaway packages that include a romantic dinner. There is a bar area that could provide guests a evening beverage and snack before they head out to or when they return for a night cap.
One tourism area that can be developed is the honeymoon business see the link to this article http://www.travelpulse.com/news/destinations/overlooked-destinations-for-married-couples.html
Only Virtuoso advisors were surveyed for the 2017 Brides Honeymoon Awards, and the poll revealed that leading the top 10 unexpected romantic destinations was Iceland, followed by Switzerland, Japan, Sri Lanka, Antarctica, Bhutan, Nicaragua, Myanmar, Cambodia and Canada."
The new owner may also consider to offer tour packages generating extra income or include packages in the room rate and work with a tour operator to provide a discount to hotel owner.