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10 mins from CBD. Occupancy stays around 90%. Half rent till 30/06/21. Accommodations only. Automated system lowers overheads and enables easier management without having to keep staff on-site.
· Vintage 3-star boutique hotel
· 4-storey brick and concrete construction
· 2 street-front entrances, 16 rooms in total
· Each of the 2 floors from the main entrance has 5 rooms
· Each of the 2 floors from the second entrance has 3 rooms
· 5 room types, all with en-suite bathroom, luxuriously and artistically furnished
· Mixed room sizes, varying from 10 to 22 sqm
· Last renovated in 2017 and costed over $400,000
· Occupancy stays around 90% throughout the year
· Half rent is guaranteed until June 30, 2021
· Simple business model provides no facilities other than accommodations and guests can self check-in/out via Cloudbeds system, which automates operations, lowers overheads and enables easier management without having to keep staff on-site
Financials:
Sales*: ˜ $600,000 p.a
Earning: ˜ $267,000 p.a
Rent: ˜ $163,000 p.a (50% off)
Wages: ˜ $55,000 p.a
Utilities: ˜ $28,000 p.a
*after COGS; during COVID
*stock image used