Phuket Hotel Bar and Restaurant Listing ID# BKK14227

9,500,000THB

BUSINESS SUMMARY

(UPDATE: Serious family problems and internal fights between partners now prompted the owner to reduce the asking price to a bottomline of just 1,5 years earnings or 9,500,000 baht to ensure a quick sale)

This Phuket Hotel has a 30 room complex with health club, sauna, swimming pool, bar and restaurant for its customers and is located in the busiest beach on the island. There are extensive and modern facilities, including air-conditioning throughout, and each room has in house video, direct dial telephone and refrigerator. The property was developed around three years ago is only being offered due to owner’s retirement and correlated management issues.

In the last financial year the business earned net profits of 6.7 million Baht after all overheads were deducted from receipts that totaled approximately 15 million Baht. The restaurant alone brought in 2 million Baht net profit in the last financial year. The main outlay was for staff salaries, with eighteen full time employees commanding total monthly wages of 160,000 Baht.

Handily placed to secure the custom of tourists and families, the premises secured a 9 year lease contract at a yearly rate of 3,000,000 with a 8,5 years remaining. The lease contract can be renewed for another term. A fully set-up Thai Limited Company holding all proper licenses is included in the sale as well as an operating website running an online booking payment system, as a full turnkey package.

NEW ASKING PRICE: 9,5 million Baht