Business Summary:
Owner will finance -- $400,000 cash down. This 52 room franchise hotel is located in Memphis, Tennessee on three acres of land. Hotel was built in 1999 and renovated in 2008. The renovation included new carpet, paint and \"knockdown\" texture, new vanities, bedding, curtains, and appliances. Also, new in 2008 was the boiler and ice machine. The 2008 revenue was $450,000 and 2009 is on track to do the same. The 2008 ADR was $66.69 per room. The owner’s benefit for 2008 was $155,000. There is another $60,000 that went to employees for payroll. The business is 20% sales professionals, 30% travel/vacation, 20% construction workers & contractors and 30% walk-ins. This is a beautiful hotel that will make a great investment for a family. Memphis is a nice area and is growing.
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