Business for Sale Overview:
Parker’s Motel, Lincoln, New Hampshire is located at the gateway to Franconia State Park in the White Mountains region of New Hampshire. It's location is close to Loon and Cannon Mountains, two of the more popular ski resorts in New Hampshire, and in the heart of a four season resort area. This 30 unit property has continued to show revenue growth and profit increases in the last four years that the current owners have operated it, during a declining economy. Parker's motel averages a fifty percent occupancy on an annual basis, with occupancies in the sixty to seventy percent range during the peak season. Average rates have remained consistent over the last few years even with a higher demand for discounting by prospective guests. The motel boasts a sixty percent repeat guest history, and enjoys a three thousand person mailing list, reservation system, and on-line booking capabilities. This business opportunity would be a perfect fit for a couple or young family who are looking to improve their quality of life while enjoying a profitable business experience.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
Originally built in the 1950’s, Parker’s Motel, located in the White Mountains region of New Hampshire has undergone sizable renovations in the 1970’s and 1980’s including multiple additions to the original structure. The property consists of three buildings housing thirty units, an office, a laundry room, game room, garage and workshop, employee apartment, and indoor spa and sauna. Of the thirty units, twenty-four are single room units (two with kitchenettes), three two bedroom units with full kitchens, and two three bedroom units with full kitchens as well. There is also an owner’s apartment consisting of four bedrooms, full kitchen, living/dining area, and two full baths. Since 2005, when the current owners purchased the property, the majority of rooms have had the bathrooms renovated, electrical upgraded, and bedding and soft goods replaced. The current owners have continued to upgrade the property on a consistent basis which has positively impacted the overall guest experience, sixty percent of whom are repeat guests.
Market Competition and Expansion:
The lodging industry in New Hampshire's White Mountains area is viable, as the two towns sit in the heart of the region, a popular tourist destination. The valley is marketed through the Lincoln-Woodstock Chamber of Commerce as “Two Little Towns, One Big Adventure”. When the visitors are here during peak season (June through October and December through March, roughly), the motel is very busy weekends and school vacation periods. During the shoulder seasons and winter midweek periods, the motel is quieter, but still has some repeat base business to warrant keeping it open. Generally speaking, tourism destinations all over the country did find numbers down in 2009 as compared to previous years; however, Parker’s Motel has enjoyed a steady increase in revenues over the full three year period that the current owners have operated the property. Revenues in 2007 were 9% ahead of 2006’s numbers, and revenues in 2008 were 8% ahead of 2007’s. Net Operating Income has also more than doubled in 2008 as compared to 2006. There is no reason to believe that with continued, aggressive marketing and attention to controlling operating expenses, positive growth will continue throughout 2009.
Reason for Selling:
Relocate
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.