Seller Financing Available
A highly successful luxury wedding venue & B&B in Texas
How about the #1 B&B in San Antonio, TX?
San Antonio, TX
San Antonio, where both the winters and the people are warm and friendly. The Inn enjoys year-round strong occupancy and has grown revenue year over year since 2007, with additional opportunities not yet tapped. 78% of price is real estate. The property is zoned commercial and could be used for other business purposes. Priced at a Cap rate of 11. Current room revenue at 56% of total with 39% of revenue attributed to weddings capable of growing to greater than 65% of revenue in weddings, all dependent on your appetite for growth. The infrastructure is already in place to handle the additional revenue. Investors will be happy to know that EBITDA/Cash Available to Owner is inclusive of the 3 new hires (Innkeeper, Assistant Innkeeper/Wedding Coordinator and a chef). One's level of involvement will only increase the bottom line.
Most importantly, you don’t have to renovate and build a B&B business from scratch. Strong advanced bookings for both rooms and weddings await your purchase, so you will start right out generating revenue. In addition to the increasing revenue from the current five rooms (all with private baths) the inn hosts intimate weddings, which currently boost annual room related revenue by an additional 90%. There are also opportunities for additional wedding revenue, with no additional investment required.
This turnkey sale includes customer base, reservation management system, furniture, fixtures, linens, cookware, serve-ware, flatware, wedding inventory, new web site (completed in Nov. 2013), business logo, all imprinted inventory (champagne glasses, wine glasses, mugs, robes), and goodwill. Owners are willing to mentor the new owners, if requested, as they plan to remain in San Antonio near their children/grandchildren.
And the best part for the investor? A separate owners or innkeepers living quarters! The beautiful, newly renovated carriage house has a private garage and private laundry facility. Enjoy the privacy you deserve in the up-to-date, modern 1500 sq. foot carriage house with corner jacuzzi tub/shower, beamed cathedral ceiling in the master bedroom, designer kitchen with granite counter tops, and a separate living/dining area with patio.
The inn and carriage house sit on 1/3 acre. Arches lead into a beautiful, “secret” garden on the east side of the main house, the site of the outdoor weddings. A gated area leads into the east end of the carriage house and up to the private balcony. The property boasts towering trees and lush landscaping with a newly paved drive that curves around the back to the lighted parking area. The main house is also in pristine condition and was originally constructed with elements that reflect the Victorian era (as seen in its curved porches) and blended with Arts and Crafts elements as seen in its fabulous woodworking, oak wainscoting and inlaid designs in its hardwood floors. Towering 11 foot ceilings in every room add to the majestic feel. The parlor and dining room fireplaces have been converted to gas while all other fireplaces in the guest rooms are now electric for year-round ambiance.
Our customer base includes both out-of-town guests looking for a romantic getaway or destination wedding as well as many in-town guests looking for a short “staycation” and/or a small, intimate wedding. This popular, historic 1891 inn, with five guest rooms (and a sixth opening soon) is situated in an upscale neighborhood in the heart of San Antonio, centrally located a mile north of the famous River Walk and close to many other of the city’s oldest attractions. While the economy remains strong in Texas, San Antonio is booming and growing in both new business and population while tourists/visitors continue to flood into the center of this vibrant city. New attractions, restaurants, bike lanes and recreational facilities are added each year. All in all, these demographics make downtown SA the perfect place to own a luxury B&B.