Services - Hotels & Other Lodging | Retail - Bars/Taverns

Asking Price	$1,650,000	Inventory
Gross Income	$522,000	Real Estate	$1,500,000*
Cash Flow	$222,000	Year Established	1950
FF&E	N/A	Employees	9

* included in the asking price

** not included in the asking price

A popular and well-established inn with a restaurant and bar is available for sale! In business for over 50 years the inn has become a popular town fixture and caters to those traveling to the area for local events as well as local clientele for the restaurant and bar. Business has been strong and their 2008 summer season was their best season yet! The inn has 25 sleeping rooms, many with kitchenettes, making the business a popular option for those seeking short-term housing. The owners have the business featured on all of the major hotel websites for easy booking. There are several different types of rooms to accommodate singles up to groups of eight. There is a large restaurant and bar with a seating capacity of 79, with a full liquor license as well as Keno. The bar holds special events such as concerts and karaoke to draw customers. They offer popular bar fare such as burgers and nachos. The owners built a second, smaller bar with a capacity of 33 with a more intimate feel as well as an outdoor patio for use in warm weather. Due to demand they have also expanded their parking lot. An added benefit is lodging for a working owner. There are various rooms, including the managers suite, which can accommodate a working owner and their family or if they employ a full-time manager. They can also benefit from the restaurant and bar on-site for their meals as well as utilizing the kitchenette in their room/apartment.

Facilities: The building is appx. 16,000 square feet on a 23,500 square foot lot. The main restaurant/bar occupies 2,800 square feet with an additional 2,700 square feet of storage. The owners have invested appx. $500,000 in improvements while owning the business including major renovations, adding a second bar and expanding the parking lot. All furniture, fixtures, equipment and inventory are included in the sale price.

Competition: The business has some competition from other nearby hotels and restaurants but it is minimal.

Growth/Expansion: The current owners do very little marketing and a new owner should update the website and include an online booking system. The restaurant can also be expanded to offer more diversity in regards to the menu items. In the past the restaurant was busier because it had many delicious and affordable menu items, and drew a strong local crowd. A new owner could also capitalize on the history of the building and update the exterior and decor to make it more attractive to clientele.

Support/Training: The sellers will provide support and training to a buyer.

Reason Selling: The owners want to retire.