Hotel, Conference Room & Guest House
This is an amazing opportunity to own ideally positioned commercial properties as well as operate a well established and profitable Hotel and Guest House with excellent occupancies and high average room rates.
The Three-Star Hotel, established in 1965 is the only full-service hotel in Grahamstown and comprises 33 rooms, 2 fully equipped (including audiovisual) Conference and Event Facilities (seats 100 and 45) and a boardroom. There is also a 75 seater restaurant and a popular student action bar. The hotel had a full revamp two years ago.
The Four Star Guesthouse was established in 1995, it has 9 rooms and is located directly opposite the hotel and offers a different accommodation type. It also has a swimming pool and parking for ten vehicles.
Target markets are primarily government and corporate accommodation and conference business. A large percentage also comes from educational centres like Rhodes University and their visiting lecturers and delegates. The schools also provide visiting tour groups and parents. The hotel building has five tenants, including the hotel, two franchised businesses and two smaller businesses. It is ideally located in the High Street of the central business area and is in close proximity to the law courts and legal fraternity, as well as Rhodes University.
The owners have decided to sell, primarily for a life change with a desire to relocate and to pursue separate business interests. The asking price for the business and the properties is R52,000,000 (excluding VAT and Stock)