Hotel Bar & Restaurant, Food & Beverage Opportunity - Downtown Area

Los Angeles, CA (Los Angeles County)

Hotel Bar & Restaurant, Food & Beverage Opportunity - Downtown Area

Asking Price:$40,000

Cash Flow:N/A

Gross Revenue:N/A

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Established:N/A

Hotel Bar & Restaurant, Food & Beverage Opportunity - Downtown Area

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Business Description

This is an opportunity for an aspiring or an established restaurateur and bar operator to take over the space, room service and potential onsite conference or offsite catering operation of a popular nationally branded hotel in the greater Downtown and Koreatown area of Los Angeles. The venue has a built-in client base due to the hotel venue’s approximately 125 rooms with an 80% average occupancy rate. The hotel also boasts a conference room that is not heavily promoted or booked, but could be shall more focus be placed on this potential revenue generator, an attractive patio, and a main street location that could also attract those in the local community or hipsters attracted to the area.

The restaurant and bar operation has a sizeable kitchen and 1 lengthy bar, and partially a 2nd service bar for the karaoke rooms. The kitchen has wine cooler, an Ecolab dishwashing unit with a three bucket sink, a large hood that covers two Imperial oven / stove combinations, a large grill, a 2 bucket deep fryer and 2 Baker’s Pride convection ovens, as well as a smaller hood that covers a 2 bucket deep fryer and a large griddle. The extraordinarily spacious kitchen has plenty of salad prep and general prep tables, two door coolers, and a spacious walk-in refrigerator and another walk-in freezer. There is manager’s office and 2 restrooms for the bar, restaurant and hotel lobby, and two additional for the karaoke rooms.

Detailed Information

Employees:
0
Facilities:
The 7,500 square foot bar and restaurant space, plus outdoor patio, can accommodate approximately 140 patrons. It includes a bar and restaurant on Olympic Boulevard with a large self-contained bar that seats up to 20 patrons with 5 large flat screen televisions for viewing, a 20 foot by 25 foot room that currently has an open floor layout but was formerly licensed for three 8 foot by 10 foot to 16 foot karaoke rooms, an attached banquet room or storage area, and a 30 foot by 20 foot outdoor patio that had been permitted to serve alcohol from 11 am to 10 pm, while the entire operation was permitted to be open from 6 am to 1:30 am (karaoke room from 11 am). The hotel’s rooms are easily accessible for room service deliveries as is the conference room (alcohol not likely permitted for either).
Competition:
Since this is a location based restaurant, bar and food and beverage operation, the venue is highly sheltered from traditional competition. They do face competition from neighboring restaurant options, none of which are substantive or particularly customer friendly or delivery services that provide an alternative to dining onsite or room service. Conference client may have events catered from any caterer they choose.
Growth & Expansion:
New operators will first seek to establish and maintain a solid restaurant operation that primarily caters to hotel guests, secondarily to local residents and businesses and then they may want to focus on launching and promoting the bar operation (depending on the operator’s vision for serving alcohol), conference and offsite catering opportunities.
Support & Training:
2 Weeks at 20 hrs/wk

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Ryan Clark

Business Listed By:
Ryan Clark

The Veld Group

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Sponsoring Broker:
Michael Wildeveld

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