70+-Room Finger Lakes Area Hotel

Not Disclosed, NY

Ideal, easily accessible location in Upstate NY

Asking Price: Annual Revenue:
$3,900,000 $914,634

Services: Hotel, Motel, Lodging

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RE: 70+-Room Finger Lakes Area Hotel Broker: Earle Ingalls

Quick Facts

Asking Price: $3,900,000
Annual Revenue: $914,634
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: $2,300,000
FF&E: $480,000
Real Estate: $3,580,000
Year Established: 1962
Employees: 32
BBN Listing #: 805040071
Broker Reference #: 3580

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Business Overview:

This independent hotel property includes 18+ acres and is surrounded by over sixty acres of beautiful fall foliage, providing spectacular views.
Facility & property recently appraised for: $4,450,000.
Includes full restaurant/bar and event space: main banquet room will accommodate roughly 400 people.
All rooms have been completely remodeled, including new floors, bathrooms, fixtures, bedding and balconies.
Weddings and other events sales up significantly in 2018.
Overall sales up despite minimal marketing & advertising.
The seller has many other real estate + outside projects and feels the business needs a full-time owner/operator to manage growth.
Includes full restaurant/bar and event space.
The bar/restaurant includes a patio that can accommodate up to 150 people.
A major franchise affiliation could significantly boost sales!

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Property Features and Assets:

Size of space occupied: 48,000 square feet. Includes full restaurant/bar and event space. Main banquet room and all rooms have been completely remodeled.

Market Competition and Expansion:

Competition: There is no other hotel in the area that compares to this one. Growth & Expansion: A new owner will want to further develop the wedding and corporate event business with a structured marketing campaign via print, radio and television.

Reason for Selling:

Seller’s other business and real estate ventures.

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.

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