Otavalo Hosteria Business Opportunity
Jul 20th, 2010 by Gary
By Jean Marie Butterlin
Here is a nice business opportunity in Otavalo, a hosteria for sale in Otavalo in a scenic environment.
Delegates on our latest Imbabura real estate tour saw this unique business opportunity, that just came on the market.
This hosteria is just eight minutes ride from the center of Otavalo in a bucolic environment on 1.2 acres of land.
Delegates…
on…
our…
last…
Imbabura…
real estate tour saw this…
opportunity to…
own…
a hosteria in…
Otavalo.
The hosteria has 10 beautifull rooms all with baths (certain rooms have 3 or 4 beds). The grounds are in a magnificient setting with one building for meeting/seminars and another for entertainment (ping-pong, billard etc…) plus a building to house the manager and a big laundry room. There is also plenty of room for a pool.
The hosteria has an average 50% occupancy rate right now and without counting the income generated by the restaurant, there could be a nice return on investment. There is a young manager who speaks perfect English. There is also a marketing man who does most of the marketing mainly through the internet and through travel agencies in Quito.
I did not get the books but some general figures are that the income is about $5,000 a month right now, with about $2,500 of expenses including the manager and its 5 employee salaries, which would net about $2,500. The restaurant’s income is extra.
The hosteria is booked in August already at 50% capacity.
The asking price is $350,000. Some of our delegates liked it and have interesting ideas like to make it into an assisted living home or use the seminar room to make a Spa with IR sauna, massage room and steam bath.
The Spa concept sells very well here in Ecuador and is always a plus.
Jean Marie Butterlin
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