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Considering to sell a good rating youth hostel in Langkawi, Malaysia

Buy / Sell a Hostel

Puspita Lie started this discussion 8 years 4 months ago

After 16 years in the business, I am thinking to retire and wonder whether anybody wants to buy it out from me. The hostel has 24 rooms and one dorm with 3 cubicles. All with aircond, new mattresses and new bed (wooden divans). A plunge pool. A big common area with shared kitchen, vending machines (2), library and laundry room (2 washing machines and 3 driers). CCTV covered -wifi system, autogate with card system, channel management for all bookings, wi-fi coverage in all areas with password created for every guest - 100MB speed, etc. A double storey house with 3 bedrooms where I live is in the same site. Big compound with plenty of fruit trees and small duck pond and another small fish pond. Hornbills, monitor lizards, monkeys - are our long term residents as well. It sits on half acre land across the beach. Proper company with audited account. Our sales is about 10 - 15K USD a month.

Let me know the offer.

Regards/

Pit

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Sornelas

8 years

Hello,

My name is Sergio and I am very interested. I have been patiently saving and doing research on owning a hostel. Before I get too far ahead, I have no experience in the hostel business thus far. Its a dream of mine to have my own hostel business. With that said what is the price range that would be acceptable for you? Do have a number or at least a rough amount? I am not too far from Malaysia and would love to visit your place if everything worked out. I hope to hear back from you.

Sergio Ornelas

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Pit_in_Langkawi

8 years

Hi Sergio, the current price range for the land alone (without building and business) is at RM120 or roughly USD35 per square foot. The business is on top of more than 0.5 acre of land. Please feel free to email me at my personal email address at [email protected] for more information. As this is a company with proper account etc, we can even provide you with working permit and all necessary docs for you to stay in Malaysia. Having said that I just have to say, it will not be cheap thing. I am building this place to be like today with a lot of investments - and I am not only talking about money.

It is very easy for me just to sell it to property developer as our land is in the prime area and one can easily build a 5 star resort but here I am being sentimental I guess trying to find someone who does not really want to make investment but also to ensure that hosteling keep its existence here in Langkawi.

Cheers/

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Maria H

8 years

Hi Sir

I am interested as an investor/aprtner as I understand there are restrictions re foreigners owning / operating without significant amounts of capital as collateral?

If interested in discussing further feel free to kindly contact me on [email protected]

Kind Regards

Maria

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Pit_in_Langkawi

8 years

Hi Maria

The business is a proper audited private limited company and you can just buy over the company. On top of that, it can even sponsor you to work legally in Malaysia as the capital/the value of the company enable you to do that. We have solicitor that can help you as well. I am as well a foreigner here.

Regards

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