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Business For Sale
HOTEL - BRANDED WITH 120 UNITS
Attn:
Dan Sperry
North Central Illinois, IL, USA
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Listing Number: "ABB007-132"
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Listing
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Asking Price: |
$2,100,000
USD USA Dollars
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Business for Sale Industry: |
Services: Hotel, Motel, Lodging
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Reason for Selling:
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Wants to retire |
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Yearly Gross Income:
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$650,000 |
Business for Sale Overview:
This property and land recently apprised at over $2.5 Million. In addition it is near a new retail development and restaurants. The hotel is located one block away from a major interstate exit and is located on the main corridor into the city. The city hosts many conventions, tourist attractions, local and state government offices, associations and some major hospitals all which can support the hotel property. The hotel is currently franchised. There will be some PIP required. This property may be an ideal conversion property for a new brand, an assisted living facility, nursing home or apartment complex. Gross revenue as a hotel is consistently around $600,000 to $650,000 range. Lots of ways to grow the business as the owner does little marketing or promotion. Owner is selling because he wishes to retire.
Additional Details:
- The property is owned.
- The owner may be willing to train/assist the new owner.
- The owner is not willing to work for the new owner.
- This is not a homebased business opportunity.
- This is a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
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