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Hotel Simonis am Mosel Germany (ID: 14987)
Hotels Under 100 Rooms | Kobern Gondorf, Germany |
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| Price: |
EUR 490,000 |
| Status: |
Expired |
| Year Built: |
1321 |
| Lot: |
1000 SQM |
| Construction: |
900 SQM |
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Property Highlights |
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Profitable |
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Family Hotel in the touristic mosel valley |
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hotel for sale |
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Freehold hotel |
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with 250 000 cash, owning your own hotel |
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newly refurbished |
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Property Description |
We bought this hotel in February 2006. We totally refurbished it and made it healthy in terms of income, fire regulations etc. Our hotel is freehold. The exterior front is a monument and can not be changed. Although we have permission to put a terrace on the market square since march this year. Which we will start using this week.
We want to sell it because we have bought another hotel which is double the size of this hotel. When we started here, we had no idea about doing business in Germany, ( We are Dutch) and decided to work our way up starting with a small hotel. It is very difficult to get a mortgage when you don’t have a history with the German banks. But it has been so successful that within two years, we could start looking at a larger hotel. Naturally we are still investing in refurbishments since Paul and I are doing most of it ourselves. We have invested more than 140 000 in these two years. Which of course puts pressure on net profit. Full financial reports will be provided here.
There are no restrictions in terms of nationality to buy a property in Germany. As long as you bring money, you are welcome in this country wherever you are from. The cost of buying a property including tax is aprox 9.1% of the price and comes on top of the purchase price which is 490 000 Euro. This is including the furniture, business, inventory etc.
Revenue of 2007 was aprox 140 000. We have no employees under contract. Only seasonal help, from April to November. This year we have 3 hourly employees (one housekeeper and 2 servers) and will see if this is enough once the terrace is being used. ( 80 seats) if not, more employees is not a problem. Paul does the kitchen, administration and refurbishment, I, Alexandra, do the service, reception and rooms.
We have created a steady income with internet booking sites. Mainly in Holland and Belgium. This year we have contracted a significant tour operator, to fill our winter season. Besides that, we have a lot of walk ins in summer season due to the touristic nature of the area. The price level of the hotel is higher than average on the Mosel, but that was historically also the case. Average occupancy is 27% in 2007. Estimated 35% in 2008.
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