Landmark Caribbean Hotel & Restaurant

St Thomas, Virgin Islands

Seller Financing Available
Pool Deck

Asking Price:$5,250,000

Cash Flow:N/A

Gross Revenue:N/A





Landmark Caribbean Hotel & Restaurant

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Business Description

Rare opportunity to own a true Caribbean Iconic landmark

This is your opportunity to own one of the most well-known and respected hotel & restaurants in the United States Virgin Islands, as well as the entire Caribbean. The Mafolie Hotel & Restaurant offers 22 well-appointed guest rooms, 2 large owner condominiums, a 150 person restaurant deck and a scenic pool and pool bar. This property has been featured in 3 TV shows within the last 4 years. In 2014, the reality show “Married at First Sight” filmed at the Mafolie. Because of their love of the place, the featured couple chose to return in 2015 with their spinoff show, "Married at First Sight; The First Year".

With St Thomas being a US territory and the gateway to the Virgin Islands, this property stays full almost year round, with an impressive ADR. The Mafolie also boasts one of the most successful restaurants on island. On a recent trip to St Thomas, Jimmy Buffet boasted that the "Mafolie Hotel (& Restaurant) was a favorite hangout.” Known for its world famous view, it offers a 180 degree panoramic view of Charlotte Amalia Harbour and the Caribbean Sea.

The US Virgin Islands also offers some excellent tax benefits. Benefits and advantages for businesses in the EDC program can be up to:
90% reduction in corporate income tax
90% reduction in personal income tax
Reduction in the customs duty from the standard 6% to 1%
100% exemption on excise tax payments
100% exemption on business property tax
100% exemption on gross receipt tax
Tax reduction on royalty income from software developed in the USVI and sold to non-US customers

While The Mafolie is currently not an EDC beneficiary company, we do currently meet many of the requirements needed to become one.

The Mafolie Hotel & Restaurant also currently has solar net metering on all 5 electric meters. A new solar system generates roughly 2/3 of the electric needs, alleviating large electric bills. The solar net metering program in the Virgin Islands has reached is capacity and is no longer available, thereby giving The Mafolie a great competitive advantage over new hotels or hotels without existing system. A large, well maintained generator provides power when needed.
Currently the The Mafolie Hotel & Restaurant is run by a general manager. If you ever dreamed of moving to an island and living the “Caribbean dream” this would be the perfect opportunity! The property is small enough to allow the owners the opportunity to be involved with the guests and the day to day operations. But it generates enough revenue to afford middle management, thus allowing potential owners the leisure to enjoy everything that living in the Caribbean has to offer.

Recent upgrades in the last two years include:
*Solar Panel Installation
*Less then 1 year old hi efficiency Fujitsu A/C units in guest rooms and offices.
*Brand new pool tile with Mafolie mosaic on pool floor.
*Renovated owner’s condominium.
*Entire hotel repainted this year.
*New pool and restaurant furniture
*New furniture in many of the rooms
*New bathrooms
*New restaurant POS system

No passports or US work documentation required for US citizens. US territory status provides easy access to US mobile phone services, internet, banking and US legal protections.

The Mafolie Hotel & Restaurant will offer a commission to any buyer’s agent upon closing.

Attached Documents

Detailed Information

22 Guest Rooms 1 Owners house consisting of 2, 2 bedroom condominiums. High performing restaurant. Pool and Pool bar. New low flow toilets Solar hot water heaters Commercial kitchen with separate dishroom, storage facility and restaurant office. Large collection of Caribbean hotel and restaurant furniture Well known successful restaurant with long time award winning chef and management staff Training and supervision available. No previous hotel or restaurant experience needed. No US passports or US work documentation required for US citizens.
Fantastic location above town. Close to the airport and seaport, we attract vacationers, business travel and transient guests alike.
Growth & Expansion:
Possible expansion.
Seller is willing to finance a portion of this property.
Support & Training:
Business Website:

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Business Listed By:
Adam Israel

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