Award Winning 3.5 Star Accommodation
$1,695,000
Resort / Holiday management rights, Port Douglas QLD
This Multi Award Winning Motor Inn sets itself apart from the usual management rights business and provides owners with some unique features.
Originally built very much to traditional motel style, the complex offers fully self-contained accommodation which is a strong point of difference appreciated by many travellers today. Without any owner occupiers and all lots in the letting pool, the business has a built in advantage that enables management to deliver marketing strategies and guest service programs that work very well.
All 22 units in the property have been maintained to a high standard and are fully self-contained with every necessary guest amenity. The business has received industry recognition for excellence as 3.5 star accommodation although this rating probably understates the true situation. The result is this business is over delivering in standard and consequently guests expectations are exceeded from day one.
The managers residence is a very spacious two bedroom two bathroom apartment that is attached to a generous office and guest reception that is all on title. In addition, the owners freehold title includes a generous laundry and housekeeping facility, together with potential for new managers to explore options for expanded private living and revise guest reception.
The vendors have developed a formula that has proved to be very successful. They have steadfastly maintained guest services resulting in repeat business and very positive guest compliments on social media. This is a business that has all the fundamentals for successful trading.
More Information
- Total Purchase Price: $1,695,000
- Net Income: $ 300,235
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 440,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.2
Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Required Office Hours
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?