I am considering the possibility of selling 2 nice hostels in Porto, Portugal. They are both completely licenced.
Here are all the details in case someone is interested:
We have just finished renovations on a 100 year old building which included, among other things:
Totally new plumbing system
Totally new electricity system
7 completely new bathrooms
Painting of the entire building
It has 38 beds spread in only 4 big rooms 2 of them with own private bathroom.
We are expecting 130.000€ turnover and 50.000€ EDITDA in 2016
The rent is 1,500€ per month and we have a 12 year contract
We have only one staff (really good) in cleaning. The rest would leave if we sell.
We could sell the leashold for 190,000€.
Fully Licenced Hostel
Opened since 3 years
11 Rooms all with private bathroom
This hostel has been very profitable over the years. In 2015 we are expecting 110.000€ EDITDA and we are having 35% turnover growth YTD. In 2014 we reached 165,000€ turnover and this year it will get easily to 200,000 €, as you will be able to see proven if we continue with negotiations.
We have 3 receptionists and 2 housekeepers, all working part time.
In this case we own the building and we can sell it for 850,000€ (buiding included).