Working family hotel, 200 metres from the sea, in the historic centre of Benidorm.
The hotel was built in 1984. The hotel consists of: basement-storage area in which are located heating, water heater, utility room. Ground floor - reception, bar, restaurant, toilets. Four floors, with 10 rooms on each floor. 5th floor - 4 rooms, attic, where there is also a technical room. Each floor has an area of 250 square meters, an area of 2000 square meters, a total of 44 rooms, which are decorated in warm colours with tiled floors. Each room has air conditioning and a balcony. All rooms with an area of 16 sqm, a TV and an EN Suite bathroom, fitted wardrobes. The hotel is equipped with Elevator, air conditioning, Central heating. There are rooms and facilities for guests with reduced mobility. The hotel has no own Parking, but there is an agreement with Parking located within walking distance to hotel clients. Parking place is available for a surcharge. There is a possibility to make a swimming pool on the top floor.
The cost of the hotel - 2 500 000 Euro. The hotel operates year-round. Has a regular clientele. Maintenance costs: the hotel serve 8 people - salary - 1 500 Euro + insurance, 21% value added tax and 21% tax on net income after deduction of expenses. Utilities-120 000 euros per year. Net income: EUR per year+ income from bar and restaurant. To reduce taxation, there is the possibility of obtaining subsidies from the state and the provision of cut-price trips for the rest of retirees in the winter months. The hotel occupancy is 90%. Average price of a room - 42 EUR per night. Minimum profitability: 44 rooms cost 40 Euro per day, for 12 months the sum of $ 633 000 euros minus 21% value added tax, for a total of 500 000 euros. Profit: EUR per year. Costs: the 144,000 (staff)-120 000 (public utilities. payments)-133 000 (21% VAT) =397 000 euros.
Asking Price $2,738,000
Sales Between $2,500,000 and $5,000,000
Profit Between $100,000 and $500,000
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