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X Hostel Bucharest: looking for a managing partner

Business Partners

danielexhostel started this discussion 8 years 5 months ago

Hello,

we are looking for a managing partner.

Hostel info: Central villa from 1917, 85 beds (dorms and 7 ensuite private rooms), large pub and reception in the basement that can hold 100 people, 20 showers and 19 toilets, up to date with all most recent codes and regulations including ISU (fire code where we just invested 25 000 euro).

Building is owned by one of the business partners so no issues with landlord.

We have been operationg in Bucharest for 5 years. We also own hostels in Varna since 2008 and Alicante since 2011.

We just bought a new building next to the hostel that will have 8 additional private rooms and 1 apartment.

Currently we legally employ 13 staff: manager, assistant manager, reception and housekeeping.

Our offer would be in steps:

1 Agreee on value of shares and agree on what % will be sold

2 Potential managing partner comes to Bucharest for due diligence

3 Potential managing partner manages the hostel for 6 months with a basic salary and a contract

4 After 6 months managing partner and current shareholders agree if the sale of shares can proceed

Reason for this choice:

We succesfully worked with this model in Varna and Alicante where the managing partners that bought in have improved the business and have been managing profitably for over 5 years.

The 2 current owners don`t have the time to manage first hand as they have other businesses in other industries and countries.

A paid manager doesnt work as well as a manager with invested interest.

Romania tourism is developing exponentially and Romanian economy is the fastest growing in Europe. Life in Bucharest is really enjoyable: the city is modern and has a young vibe. Still very low cost of life which allows an expat to live very comfortably.

For extra info write to [email protected] please include cv and your potential investment budget (it`s an investment opportunity, not a job offer)

Some extra info:

http://www.hostelworld.com/hosteldetails.php/X-Hostel-Bucharest/Buchares...

http://booking.com/4aad77a0d411cb

https://www.tripadvisor.com/Hotel_Review-g294458-d2627801-Reviews-X_Host...

https://www.facebook.com/xhostelbucharest

https://www.driehaus.com/EM-Commentary-Romania-Poised-to-be-Europes-Fast...

http://www.romania-insider.com/best-year-romania-tourism/