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Highly Profitable Hotel Business In Ibiza For Sale

Sant Antoni de Portmany, Ibiza
Asking Price:
€280,000 Furniture / Fixtures and Inventory / Stock included
Turnover:
€250K - €500K
Net Profit:
€100K - €250K

A stylish, quiet, and comfortable place to sleep, the hotel is located 300 meters from Cala des Moro Beach and within a short walking distance to the entertainment district, world famous sunset bars Café Del Mar and Café Mambo, and outdoor adventure activities such as parasailing, diving, kayaking, snorkeling, hiking, and biking. Stable, profitable, established, business in continuous operation for over 37+ years. Excellent online reputation and customer satisfaction. Ranked in the top 9% in Spain and top 13% worldwide for customer satisfaction on the Trivago Rating Index (TRI), one of the industry's most comprehensive rating. Highly rated on Booking.com for customer satisfaction. Listed as the number 2 on TripAdvisor in San Antonio. Winner of the TripAdvisor Certificate of Excellence two years in a row. Featured in local newspapers “The Ibizan” and “Ultima Hora” in 2015 and listed as a top 10 budget hotel destination on Ibiza by MixMag in July 2015, the world’s largest publication for electronic and dance music fans and professionals. Open all year it is in the top 10 of the most popular hotels on the island of Ibiza in the Winter on Expedia. Business includes a top rated highly profitable 24-room hotel business with reception, lobby, outdoor patio, a cafeteria-bar generating monthly income from sublease to a third party, a two bedroom rooftop apartment that can be leased as is or converted into additional rooms/suite. Original owner retired from business in 2011.

Property information

Real Estate:

Lease

Lease Terms:

10 years left on current lease agreement. Annual property taxes of € 5,500 payable in addition to monthly lease.

Leasehold Rent:

€45,000 per annum

Living Accommodation:

Building includes a two bedroom rooftop apartment that can be used to live in, subleased, or converted into additional rooms/suite.

Location:

Excellent location in the center of San Antonio in a quiet residential neighborhood, 300 meters from the beach and within a 5-minute walk to the harbor, the sunset strip, and the bus station. The location is the second most highly appreciated feature by visitors to this property.

Business Operation

Expansion Potential:

The combination of high demand and excellent reputation make this a fantastic opportunity to convert the hotel into a designer/boutique hotel and significantly increase room revenue. Current owner focused only on growing the hotel business without any additional services. Extra revenue can be generated by adding tour and entertainment ticket sales, vending machines, and other related services.

Competition / Market:

The hotel industry is characterised by the fact that each property is unique. This gives the opportunity for small, family-operated businesses to compete in the same market against large chains and focus on differentiating factors. This business has positioned itself to take advantage of a specific segment that represents the new generation of visitors to Ibiza who look for comfort at an affordable price and currently offers a unique value proposition in the area. Despite many accommodation providers in operation in San Antonio and Ibiza in general, the demand for beds exceeds the supply during the high season. Occupancy rates of this hotel are among the highest on the island during the off-season (Top 10 in Ibiza in reservations on Expedia and Booking.com).

Reasons for selling:

Current owner relocating to US for family reasons.

Trading hours:

Reception is open 7am to midnight 7 days a week.

Employees:
3
Years established:
37

Other Information

Support & training:

Detailed 2016 business, strategic, and marketing plans are included with the sale. No previous hotel experience necessary, seller provides extensive procedures and up to 4 weeks of training and handover support to new owner. On-going consulting and support past the initial 4 weeks negotiable.

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