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Hotel For Sale 38 Rooms In Coastal Zone For Sale

Mallorca, Spain
Asking Price:
€2,995,000 Furniture / Fixtures and Inventory / Stock included
Turnover:
€100K - €250K
Net Profit:
€50K - €100K

Hotel for sale in the Coastal Zone of Mallorca

It is a recently renovated property of 38 rooms.

Current capacity for 68 pax.

Hotel in full operation and with fixed clientele annually. It is sold for retirement.

Total area of 2,717 m2 of which 1,500m2 are built.

Private parking for customers and staff.

Swiming pool, restaurant and sunbathe area.

Possibility of increasing two floors so as to get sea views. (SB+3 license)

This is a "Fonda" , that means that the restaurant can work even if the hotel is closed in winter and everything is invoiced through what is called "modules", offering high profitability.

Energy rating D. Energy efficiency from Natural Gas and Solar Panels.

Underfloor heating throughout the ground floor. Electric heating and ventilation in the rooms.

The adjoining land is rustic so the panoramic views cannot be affected.

350 meters from the sea.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

The Hotel has a flat with one bedroom, kitchen and bathroom for the Director/ Owner. The flat is located inside the Hotel.

Location:

Palma de Mallorca, 35o meters from the sea.

Size in square feet:
3
Planning Consent:

SB+3

Business Operation

Expansion Potential:

SB+3 license means that there is the possibility of expanding the hotel building more floors and adding rooms or chaning the use to residential and building up to 1.500 m2 divided in 16 flats.

Competition / Market:

•This is a Hotel/ Fonda with restaurant. This means that the restaurant can be operated at the same time as the main lodging project.

•The most interesting part of this project is that taxes will be paid by "modules", this means that regardless of the price charged to the client, the same amount of money will always be declared to the state (a much lower amount than if it were a normal hotel).
This means that no matter how much you reform and make a luxury stay and high standing (increasing the price of the rooms) you will continue to pay a low tax per person and overnight stay.

•The hotel has 38 rooms and is in a very touristic area and only 350 m from the sea, the profitability of this is very high as it can attract tourism throughout the year.

•It is located in an area near luxury developments, so the restaurant can also be open and with traffic throughout the year.

Reasons for selling:

Retirement.

Employees:
8
Years established:
50