Sold by aldes Cliff Bell Nov 2019
Net Profits of R1.46m pa (incl owner addbacks) off a stable turnover of R8.1m pa (incl the restaurant + bar). 60 room hotel that is well known, long established & profitable, focusing on business & holiday clientele. The long term lease is extendable.
The hotel is operated by the elderly owner acting as the GM, with duty managers & well trained staff in place (specifically for night duty). The in-house restaurant & bar services both internal & external clientele.
- Asking Price:
- R2,500,000 Furniture / Fixtures included
- Sales Revenue:
- R8,100,000
- Cash Flow:
- R1,460,000
Property Information
- Real Estate:
-
Lease
- Premises Details:
-
The Hotel, in-house Restaurant, & bar are operated within a strategically positioned building within the Durban CBD, that is on a Long Term Lease, which is extendable (the property cannot be purchased).
Business Operation
- Reasons for selling:
-
Retiring
- Trading hours:
-
24/7
- Employees:
- Hotel: 13 full-time (2 of which are the Housekeeping & Food/Beverages Managers, who also share the role of Duty Manager) & 2 casuals Restaurant : 4 The owner acts as the GM & is full-time during the week-days only
- Years established:
- 60 with 30 being with the present owner
