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Established Resort with freehold for just under 4 acres of beachfront property. There are currently 16 bedrooms each with views of the sea, our own dive operation, and the islands best restaurant.
Turnover usually exceeds $2.5 Million USD/yr and EBITDA is typically around 10%.
Lots of scope for expansion on the site and significant tax benefits associated with owning a business in the TCI.
Real Property Included
The current manager lives on site with his wife in a single story building which also houses the office.
3.9 acres of land on the coast of Grand Turk, Turks & Caicos Islands, British West Indies
Two 8 bedroom accommodation blocks, a dive center, a restaurant and various ancillary buildings.
Planning permission would need to be sought for expansion, but the local government is pro investment.
Less than half the land on the site has been developed, so it would be easy to envisage at least two further accommodation blocks, doubling the size of the hotel, or adding some luxury condos.
Best restaurant on the island, only self-contained Dive Resort on the island (although there are other hotels and other dive operations), very popular Beach bar.
None of the shareholders / owners are close enough (or have the time) to supervise the business closely enough. A business like this should be making more than 20% EBITDA not 10%, so looking for a buyer who has the time to manage the business more closely.
The bar stays open until the last guest heads to bed!
Accounts are run on Sage, supervised by an accountant in the uk. Full technical and commercial support can be offered over a transition period. Complexity of transition would very much depend upon buyers plans for current staff.
When we bought, the seller offered a private mortgage for a number of years to ease the purchase. We would offer a similar arrangement.
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