TripAdvisor#1 Beach Hostel, Kayak & Activity Center, Bar & Grill

Utila, Bay Islands, Honduras

View from a plane of Beach to the front and Lagoon to the rear.
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Asking Price: Get Financing: $449,500

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 2015

TripAdvisor#1 Beach Hostel, Kayak & Activity Center, Bar & Grill

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Business Description

#1 On TripAdvisor, Booking.com and LonelyPlanet

#1 on TripAdvisor 2016/17 and the highest rated property on Lonely Planet (2016/17), THE VENUE- UTILA has a lot to offer its next owner. Purchased in April 2015, the property was completely re-developed into its current offering. A unique property with a strategic location at the heart of the islands only public beach. There are a handful of other bars and restaurants on the island, but none can offer a one-stop shop for guests and customers. The business is multifaceted with options for accommodation, rentals, tours, restaurant, bar and event spaces.

This stunning Activity Hostel, Bar, Grill and Nightclub set right on Utila's main beach (Chepes Beach). The property also backs onto the tranquil, mangrove-lined, Oyster Bay Lagoon thus giving the property dual water aspects (front and back). The iconic “Champa” (Palm thatched building) that houses THE VENUE is a landmark on the island and can be seen from most vantage points along the bay and from the ocean.

The property needs to be seen to be believed. There is much more to this extraordinary property than first meets the eye. The business can be easily ramped up into a large profit centre or can be scaled to meet the pace of life and income goals of the buyer. This is an island business that will move at the speed you want it to.

HOSTEL:
The property boasts a 5 bedroom (15 bed) hostel that has seen great occupancy in season and a steady trade in the short wet season. This is by far the biggest growth area for the business and the present owners are currently looking to build further accommodation blocks to increase capacity.

KAYAKS + TOURS:
Currently, THE VENUE boasts an impressive kayak rental business. With 40+ kayaks and 10 paddle-boards, this is the largest and best-equipped activity centre on Utila. Given the properties unique position on the Oyster Bay lagoon, the property has virtually sole access to a man-made, mangrove-lined, canal through the island to the uninhabited North-side of Utila. The North-side of the island is where the best fishing, snorkelling and diving is to be found so this offers plenty of scope to build new adventures and trips.

TRIPS AND ADVENTURES:
THE VENUE operates regular SUBWING trips (See Subwing video). Subwing is a relatively new adventure activity and we have two SUBWING boards. These trips are extremely profitable as running costs are low and can be run right off the beach in front of the property. This is proving popular with scuba divers and snorkelers. The business has recently invested in some other towable rides as this sector of the business grows.

RESTAURANT:
The impressive dining space at THE VENUE is located in the cool of the main Champa and can easily seat over 60 guests. Typically this is setup to suit about 30 in a more intimate setting. When there are group bookings or functions the space is extremely flexible. Outside there is additional seating, the only limit here would be your imagination. The restaurant has grown in reputation and often hosts Dive Shop Dinners and Private Functions. The owners don’t currently run this year round as they are happy with the income from the hostel, adventures and bar.

BAR + NIGHT CLUB:
The bar at THE VENUE is the picturesque Caribbean beach bar you've always imagined. Cocktails, Rum Punch, shots and the islands coldest beers!
THE VENUE has held some of the islands largest parties in recent times. New Years, Carnival, Miss Utila, Sunjam Warmup and the UV Colour party are all held here. The VENUE is popular with touring musicians and there is scope to host festivals, and concerts. Events for over 200 paying guests are not uncommon.

OTHER:
A new owner could look to introduce a new dive shop. The location and protection of the lagoon, with direct access to dive sites would be a serious advantage, as would canal access to the North-side, for days when conditions would suit North-side diving.

See Attachment For Full Details!

Attached Documents


Detailed Information

Employees:
3
Facilities:
The 0.25 acre property along with the attached docks as a full turn key business. FULL DETAILS CAN BE FOUND IN THE ATTACHMENT!!!
Competition:
Purchased in April 2015, the property was completely re-developed into its current offering. A unique property with a strategic location at the heart of the islands only public beach. There are a handful of other bars and restaurants on the island, but none can offer a one stop shop for guests and customers. The business is multifaceted with options for accommodation, rentals, tours, restaurant, bar and event spaces. The business can be easily ramped up into a large profit centre or can be scaled to meet the pace of life and income goals of the buyer.
Growth & Expansion:
As mentioned above there is plenty of room for expansion. There is plenty of scope to build additional hostel/hotel accommodation. The existing owners are also looking at building an amazing owners accommodation block to the rear of the property overlooking the lagoon and the longest sunset in Utila. Provisional foundation and infrastructure work has already been done during the initial construction. FULL DETAILS CAN BE FOUND IN THE ATTACHED DOCUMENT!
Support & Training:
Full support can be given to any new owner...
Reason for Selling:
Looking to release funds for another investment.
Business Website:
http://www.thevenueutila,com
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Business Listed By:
Frazer Halliday

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