75+ Unit Hotel - Click for Details
This is a brand new listing, please bare with us while we add in all the details.
The sale of this 2 storey hotel, single fixed roof building, concrete construction, is being structured as a sale of shares. The property is in excellent condition and has seen in excess of $600k in Capital improvements in the past 4 years.
A full package and overview will be provided to a qualified buyer. The minimum expectation is for a prospect to prove not less than $1.2M in equity before release of information.
Average annual room revenues for the past 6 years = $1,290,000
Fiscal 2017 revenues are on track for $1.4M - $1.5M
Normalized EBITDA for the past 6 years = $375k
Expected EBITDA for fiscal 2017 = $400k+
Room revenues are well diversified, from commercial/professionals, contractor, tourism, and sporting teams.
Hotel property sits on approximately 2.4 acres, offering highway frontage, and is serviced by city water and sewer. Additional, neighbouring parcel of land, is approximately 2 acres.
The property is concrete construction, single fixed roof, interior corridors.
- Renovated rooms and lobby
- Breakfast room
- nearly $600k in recent expenditures.
- ample parking for all vehicles
Non Disclosure Agreement
I hereby acknowledge that information regarding the following business(es) and/or Seller(s) is being provided to me in SECRECY AND CONFIDENCE and is to be used solely for the purpose of assessing the prospective purchase of the business(es) through Gateway Business Brokers.
I agree not to disclose any of the information given in connection herewith, either directly or indirectly, to third parties, except direct support people; nor will I use, or assist others to use, any such information for competitive trade purposes or to circumvent Gateway Business Brokers in any transaction or contact with the seller(s). I agree not to make copies of any of the material provided and to return all of it if I discontinue interest in the Business. The material and information furnished is believed to be reliable for the purpose of evaluating the Business. Further, I agree that all inquiries, investigations, negotiations, offers to purchase, and/or letters of intent must be made through Gateway Business Brokers. I agree to protect and not disclose the confidentiality of the information I receive permanently, even if I choose not to purchase the said business.
I agree that any breach of this Non-Disclosure Agreement (the "Agreement"), directly or indirectly, will be harmful to the Seller(s) and Gateway Business Brokers. In consideration for the information given, I agree that the laws of Nova Scotia will govern this Agreement and that all actions that may arise in law and/or equity shall be brought in Nova Scotia.
It is understood that this Agreement also applies to any information previously supplied by Gateway Business Brokers, verbally or in writing. I understand that neither the Seller(s), the Business(es), its officers, directors, employees, nor Gateway Business Brokers ,shall have any liability as a result of furnishing me the material included in this Agreement.
This agreement also acknowledges that the undersigned Buyer(s) has (have) been advised that Gateway Business Brokers provides Client representation for the seller(s) and Customer representation for the buyer(s) in this transaction, as per the terms that have or will be provided. I agree that should I buy, lease or come into possession of the Business, in whole or part, during the listing term or within 1 year from the expiry date of the listing term, Gateway Business Brokers’ right to a fee, as per Gateway Business Brokers’ agreement with the Seller(s), will be deemed earned. I understand I will be personally liable for payment of any applicable fees, as so reasonably determined, if I breach any clause of this agreement. It is agreed, however, that if a purchase is completed with the assistance available from Gateway Business Brokers, I am not liable for a fee.