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Florimont Casa Hotel For Sale
Location Bulgaria
Asking Price Range $1.0M - $2.5M
Gross Revenues $430000
Net Profit / Cash Flow $300000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2004
Number of Employees 10 - 19
Relocatable Not Disclosed
Number of Employees 10 - 19
Real Estate Owned
Description Recently constructed, well established in the market and fully operating, Florimont Casa offers a great investment opportunity. The Hotel for sale was designed and constructed by the Z Properties JSC company in 2004 and branded as the well known Florimont chain of commercial and residential buildings in Bulgaria.
The monolith four storey building is constructed to the highest standards, and combines the modern convenience, with the traditional architecture of old Bansko.
Rooms:
Florimont Casa Hotel*** offers 24 luxury double rooms and 4 apartments with private terraces. All units are equipped with premium furniture, satellite TV, wireless access, mini bar, and decorative electrical appliances.
Facilities:
The hotel has 24/7 reception desk and security, spacious onsite restaurant, lobby bar, SPA center with indoors swimming pool, jacuzzi, steam room, sauna, gym, massage cabin, computer room and amusement area.
Business results:
Since the operational opening of Florimont Casa Hotel*** for the 2004/2005 ski season, the company management, has developed well founded relations with tourist agencies from Bulgaria, Greece, Romania, Serbia, United Kingdom and Russia. By providing high standards of accommodation and service, the hotel has reached average occupancy levels of 84%.
Economic Environment and Prospective:
As the most developed ski resort in Bulgaria, Bansko is enjoying the highest tourist activity of all ski resorts on the Balkans. The downturn of the world's economy has affected the rental revenue in 2008/2009 season, and the occupancy levels have dropped down with 17% to 22%. In 2009 Florimont Casa Hotel*** welcomed over 4,700 visitors. The average rack rates for the same period have been 89 euro. Expectations for the 2009/2010 winter period are 8% occupancy increase. Bookings are still being made.
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